Bloom Energy Corporation $BE Stock: Gilliland Jeter Wealth Management LLC Grows Stake

Gilliland Jeter Wealth Management LLC grew its position in shares of Bloom Energy Corporation (NYSE:BE) by 32.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,565 shares of the company’s stock after buying an additional 2,865 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in Bloom Energy were worth $3,203,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. increased its holdings in Bloom Energy by 49.3% in the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 112 shares of the company’s stock valued at $34,000 after buying an additional 37 shares during the period. Compound Planning Inc. raised its position in shares of Bloom Energy by 1.1% in the 1st quarter. Compound Planning Inc. now owns 3,445 shares of the company’s stock valued at $467,000 after buying an additional 38 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in shares of Bloom Energy by 13.8% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 355 shares of the company’s stock valued at $98,000 after buying an additional 43 shares in the last quarter. Carolina Wealth Advisors LLC lifted its holdings in shares of Bloom Energy by 51.7% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 135 shares of the company’s stock worth $41,000 after acquiring an additional 46 shares during the period. Finally, Truefg LLC lifted its holdings in shares of Bloom Energy by 2.4% during the 3rd quarter. Truefg LLC now owns 2,048 shares of the company’s stock worth $567,000 after acquiring an additional 48 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

In other news, insider Satish Chitoori sold 2,870 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $270.06, for a total value of $775,072.20. Following the transaction, the insider owned 202,494 shares in the company, valued at $54,685,529.64. This trade represents a 1.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey R. Immelt sold 30,000 shares of Bloom Energy stock in a transaction on Monday, August 17th. The stock was sold at an average price of $238.91, for a total transaction of $7,167,300.00. Following the transaction, the director directly owned 201,243 shares in the company, valued at $48,078,965.13. This represents a 12.97% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 89,698 shares of company stock valued at $21,780,758 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Key Stories Impacting Bloom Energy

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom Energy’s addition to the S&P 500 in September increases its visibility and can create demand from index-tracking funds. Analysts also see substantial long-term opportunity as data centers and artificial-intelligence infrastructure require reliable power. Bloom Energy Just Joined the S&P 500. Here’s What History Says Happens Next.
• Positive Sentiment: A comparison with Plug Power favors BE on earnings growth, profitability and liquidity, supporting the view that Bloom is one of the stronger companies in the fuel-cell sector. Bloom Energy or Plug Power: Which Offers Better Long-Term Upside Now?
• Positive Sentiment: Recent coverage continues to highlight Bloom’s record quarter and explosive growth potential, while a recent analyst upgrade provided additional support for the stock’s investment case. Bloom Energy stock faces cash-flow test after record quarter

Bloom Energy Stock Performance

NYSE BE opened at $202.46 on Friday. The company has a fifty day simple moving average of $248.16 and a 200 day simple moving average of $219.80. Bloom Energy Corporation has a 12-month low of $75.70 and a 12-month high of $351.28. The company has a current ratio of 3.74, a quick ratio of 3.08 and a debt-to-equity ratio of 1.33. The company has a market cap of $59.86 billion, a P/E ratio of 124.21, a PEG ratio of 2.24 and a beta of 3.77.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.25. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The firm had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the prior year, the company posted $0.15 earnings per share. The business’s revenue was up 138.1% on a year-over-year basis. Sell-side analysts predict that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BE has been the subject of a number of research analyst reports. TD Cowen raised Bloom Energy to a “hold” rating in a report on Monday, October 5th. BMO Capital Markets restated an “outperform” rating and issued a $260.00 price objective on shares of Bloom Energy in a report on Wednesday, October 21st. UBS Group lifted their target price on shares of Bloom Energy from $325.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. BTIG Research lowered their price objective on shares of Bloom Energy from $295.00 to $250.00 and set a “buy” rating for the company in a research note on Friday, October 23rd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $242.00 target price on shares of Bloom Energy in a research report on Friday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and an average target price of $264.33.

Bloom Energy Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.