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

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

Several other institutional investors and hedge funds have also added to or reduced their stakes in BE. Resona Asset Management Co. Ltd. acquired a new position in shares of Bloom Energy during the second quarter worth approximately $108,000. Mizuho Markets Americas LLC raised its position in Bloom Energy by 29.9% in the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock worth $9,460,000 after purchasing an additional 90,980 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in Bloom Energy during the 3rd quarter worth $1,106,000. Jump Financial LLC boosted its position in Bloom Energy by 137.8% in the 2nd quarter. Jump Financial LLC now owns 332,722 shares of the company’s stock valued at $7,959,000 after buying an additional 192,790 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Bloom Energy in the 2nd quarter valued at $9,836,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on BE shares. Daiwa Capital Markets set a $98.00 price target on Bloom Energy in a research note on Tuesday, December 2nd. Evercore ISI reissued an “outperform” rating on shares of Bloom Energy in a report on Thursday. Bank of America upped their target price on shares of Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a research report on Tuesday, November 25th. Robert W. Baird set a $157.00 price target on shares of Bloom Energy in a research report on Wednesday, October 29th. Finally, Wedbush set a $39.00 price objective on shares of Bloom Energy in a report on Tuesday, November 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus price target of $96.00.

Bloom Energy Price Performance

Shares of BE stock opened at $136.46 on Tuesday. The firm has a market capitalization of $32.27 billion, a price-to-earnings ratio of 744.83, a price-to-earnings-growth ratio of 11.29 and a beta of 3.01. Bloom Energy Corporation has a 12-month low of $15.15 and a 12-month high of $147.86. 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 fifty day moving average of $105.23 and a 200-day moving average of $76.80.

Bloom Energy (NYSE:BE) last posted its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping 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 firm had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. During the same period in the previous year, the company posted ($0.01) earnings per share. The company’s revenue for the quarter was up 57.1% on a year-over-year basis. On average, equities research analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Mary K. Bush sold 36,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total transaction of $5,141,520.00. Following the completion of the sale, the director directly owned 133,524 shares of the company’s stock, valued at approximately $19,069,897.68. This represents a 21.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aman Joshi sold 4,543 shares of the firm’s stock in a transaction that occurred on 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 owned 219,818 shares in the company, valued at $23,988,738.34. This trade represents a 2.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 120,410 shares of company stock worth $16,557,185 in the last three months. 3.50% of the stock is owned by corporate insiders.

Bloom Energy Company Profile

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.