Bloom Energy Corporation $BE Stock Position Raised by Elite Wealth Management Inc.

Elite Wealth Management Inc. raised its holdings in shares of Bloom Energy Corporation (NYSE:BE) by 195.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,922 shares of the company’s stock after purchasing an additional 18,484 shares during the quarter. Bloom Energy makes up 1.5% of Elite Wealth Management Inc.’s holdings, making the stock its 18th biggest position. Elite Wealth Management Inc.’s holdings in Bloom Energy were worth $7,734,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M Holdings Securities Inc. bought a new stake in shares of Bloom Energy during the 3rd quarter worth about $999,000. Candriam S.C.A. lifted its position in Bloom Energy by 27.0% during the third quarter. Candriam S.C.A. now owns 43,287 shares of the company’s stock worth $12,033,000 after acquiring an additional 9,193 shares during the last quarter. J. Derek Lewis & Associates Inc. lifted its position in Bloom Energy by 152.0% during the third quarter. J. Derek Lewis & Associates Inc. now owns 2,457 shares of the company’s stock worth $681,000 after acquiring an additional 1,482 shares during the last quarter. Ethic Inc. boosted its holdings in shares of Bloom Energy by 108.2% during the third quarter. Ethic Inc. now owns 11,951 shares of the company’s stock worth $3,310,000 after acquiring an additional 6,211 shares during the period. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of Bloom Energy by 21.0% during the third quarter. Pictet Asset Management Holding SA now owns 169,607 shares of the company’s stock worth $46,978,000 after acquiring an additional 29,410 shares during the period. 77.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. TD Cowen raised Bloom Energy to a “hold” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. dropped their price target on Bloom Energy from $314.00 to $292.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Citigroup lifted their price target on Bloom Energy from $281.00 to $284.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. Evercore restated an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 26th. Finally, Wells Fargo & Company upped their price objective on Bloom Energy from $176.00 to $182.00 and gave the company an “equal weight” rating in a report on Monday, October 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $263.05.

Key Headlines Impacting Bloom Energy

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

• Positive Sentiment: BE shares rebounded as fuel-cell stocks clawed back some post-election losses; a technical-trading report also noted the stock found support near $163. Fuel-cell stocks rebound
• Positive Sentiment: Bloom’s agreement with NTT DATA to deploy 900 megawatts of onsite power across data-center projects supports the company’s growth opportunity in power-hungry facilities. Recent quarterly results also beat estimates, and Bloom raised its full-year outlook. NTT DATA agreement Bloom Energy outlook
• Neutral Sentiment: Director Barbara Burger sold 2,333 shares for about $502,000, reducing her stake by roughly 6%; she still held 36,607 shares after the sale. Director share sale
• Negative Sentiment: Election-related fears about potential changes to data-center approvals and the pace of AI infrastructure investment recently pressured Bloom and other AI-power stocks. That concern remains a risk despite the NTT DATA contract. AI data-center concerns

Insiders Place Their Bets

In related news, Director John Chambers sold 8,828 shares of the stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $203.43, for a total transaction of $1,795,880.04. Following the sale, the director owned 199,505 shares of the company’s stock, valued at $40,585,302.15. This represents a 4.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Satish Chitoori sold 2,870 shares of the firm’s stock in a transaction 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 approximately $54,685,529.64. This trade represents a 1.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 85,859 shares of company stock valued at $20,994,650 in the last quarter. Company insiders own 3.00% of the company’s stock.

Bloom Energy Stock Performance

Shares of NYSE:BE opened at $173.35 on Monday. The company’s 50 day moving average price is $246.00 and its two-hundred day moving average price is $220.98. Bloom Energy Corporation has a 12-month low of $75.70 and a 12-month high of $351.28. The firm has a market cap of $51.25 billion, a PE ratio of 106.35, a PEG ratio of 1.75 and a beta of 3.63. The company has a quick ratio of 3.08, a current ratio of 3.74 and a debt-to-equity ratio of 1.33.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, October 22nd. The company reported $0.94 EPS 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 company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $0.15 earnings per share. The business’s revenue for the quarter was up 138.1% on a year-over-year basis. Equities research analysts predict that Bloom Energy Corporation will post 2.61 earnings per share for the current year.

About Bloom Energy

Bloom Energy Corporation develops solid oxide fuel cell technology for on-site electricity generation and hydrogen production. Its Bloom Energy Server systems generate power near the point of use, helping businesses and institutions meet electricity needs and support resilient energy operations. The company also offers solid oxide electrolyzers designed to produce hydrogen.

Founded in 2001 by K.R. Sridhar, Bloom Energy is headquartered in San Jose, California. It serves customers in the United States and international markets, including countries in Asia.