PBMares Wealth Management LLC Invests $912,000 in Bloom Energy Corporation $BE

PBMares Wealth Management LLC acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,780 shares of the company’s stock, valued at approximately $912,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bayforest Capital Ltd bought a new stake in Bloom Energy during the first quarter worth approximately $2,055,000. AQR Capital Management LLC bought a new stake in shares of Bloom Energy during the 1st quarter worth $1,820,000. NewEdge Advisors LLC grew its stake in Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after buying an additional 1,626 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in Bloom Energy by 50.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock valued at $49,127,000 after buying an additional 836,810 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in Bloom Energy by 30.7% in the 1st quarter. Focus Partners Wealth now owns 20,063 shares of the company’s stock worth $394,000 after acquiring an additional 4,716 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Trading Up 1.8%

BE stock opened at $136.46 on Tuesday. Bloom Energy Corporation has a 1-year low of $15.15 and a 1-year high of $147.86. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The business’s 50 day moving average is $105.23 and its 200-day moving average is $76.80. The firm has a market cap of $32.27 billion, a P/E ratio of 744.83, a P/E/G ratio of 11.29 and a beta of 3.01.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business’s revenue was up 57.1% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.01) earnings per share. Equities analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In related news, insider Satish Chitoori sold 431 shares of Bloom Energy stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total transaction of $37,979.72. Following the completion of the transaction, the insider directly owned 229,449 shares of the company’s stock, valued at $20,219,045.88. This trade represents a 0.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Aman Joshi sold 4,543 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the sale, the insider directly owned 219,818 shares in the company, valued at $23,988,738.34. This represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 120,410 shares of company stock worth $16,557,185 over the last ninety days. Company insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on BE. Royal Bank Of Canada restated an “outperform” rating and set a $123.00 price target on shares of Bloom Energy in a report on Monday, October 20th. Truist Financial set a $68.00 price objective on Bloom Energy in a research report on Friday. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Finally, Mizuho set a $89.00 price target on Bloom Energy in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $96.00.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.