Wilmington Savings Fund Society FSB Grows Stake in Bloom Energy Corporation $BE

Wilmington Savings Fund Society FSB raised its stake in shares of Bloom Energy Corporation (NYSE:BE) by 157.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,215 shares of the company’s stock after purchasing an additional 5,030 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Bloom Energy were worth $695,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. N.E.W. Advisory Services LLC bought a new position in shares of Bloom Energy during the 3rd quarter valued at approximately $32,000. Cranbrook Wealth Management LLC bought a new position in Bloom Energy during the third quarter valued at $39,000. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Bloom Energy in the third quarter valued at $42,000. ORG Partners LLC bought a new stake in shares of Bloom Energy in the 3rd quarter worth about $49,000. Finally, CoreCap Advisors LLC bought a new position in Bloom Energy during the 3rd quarter valued at about $102,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Stock Performance

Shares of BE stock opened at $149.30 on Monday. The company’s 50 day moving average is $105.62 and its 200 day moving average is $80.12. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The firm has a market cap of $35.31 billion, a price-to-earnings ratio of 830.56, a PEG ratio of 12.59 and a beta of 3.01. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $150.84.

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

Analysts Set New Price Targets

Several brokerages have issued reports on BE. Cowen restated a “hold” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Evercore ISI reiterated an “outperform” rating on shares of Bloom Energy in a research report on Thursday, January 8th. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. Jefferies Financial Group reiterated an “underperform” rating and set a $53.00 price objective on shares of Bloom Energy in a report on Friday, October 31st. Finally, Oppenheimer restated a “market perform” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and an average price target of $96.00.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,583 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $105.97, for a total value of $167,750.51. Following the sale, the insider directly owned 221,633 shares in the company, valued at approximately $23,486,449.01. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jim H. Snabe sold 20,000 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total transaction of $2,860,800.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 120,410 shares of company stock valued at $16,557,185. 3.60% of the stock is currently owned by corporate insiders.

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.