Pinnacle Wealth Management Advisory Group LLC Takes $576,000 Position in Bloom Energy Corporation $BE

Pinnacle Wealth Management Advisory Group LLC acquired a new stake in Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, HoldingsChannel.com reports. The fund acquired 6,810 shares of the company’s stock, valued at approximately $576,000.

Several other large investors have also bought and sold shares of the company. Advisors Asset Management Inc. boosted its position in shares of Bloom Energy by 43.0% during the 1st quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock valued at $1,704,000 after purchasing an additional 26,077 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new stake in shares of Bloom Energy in the 2nd quarter worth approximately $108,000. Mizuho Markets Americas LLC lifted its stake in Bloom Energy by 29.9% during the second quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after purchasing an additional 90,980 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in Bloom Energy during the third quarter worth approximately $1,106,000. Finally, Jump Financial LLC grew its position in Bloom Energy by 137.8% in the second quarter. Jump Financial LLC now owns 332,722 shares of the company’s stock worth $7,959,000 after buying an additional 192,790 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

BE stock opened at $86.62 on Friday. The firm has a 50 day simple moving average of $106.47 and a 200 day simple moving average of $71.52. Bloom Energy Corporation has a 52 week low of $15.15 and a 52 week high of $147.86. The stock has a market cap of $20.49 billion, a P/E ratio of 482.72, a P/E/G ratio of 54.88 and a beta of 3.02. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40.

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

Analysts Set New Price Targets

BE has been the subject of a number of recent research reports. Susquehanna increased their price objective on Bloom Energy to $157.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. BTIG Research boosted their target price on Bloom Energy to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. UBS Group increased their price target on Bloom Energy to $115.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. JPMorgan Chase & Co. lifted their price target on Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a $123.00 price objective on shares of Bloom Energy in a research note on Monday, October 20th. 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’s stock. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $93.77.

Insider Buying and Selling at Bloom Energy

In other news, insider Aman Joshi sold 4,543 shares of the firm’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 completion of the sale, the insider directly owned 219,818 shares of the company’s stock, valued at $23,988,738.34. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $37,979.72. Following the sale, the insider owned 229,449 shares of the company’s stock, valued at approximately $20,219,045.88. This represents a 0.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 120,410 shares of company stock valued at $16,557,185 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

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.