Udine Wealth Management Inc. Increases Stock Position in Bloom Energy Corporation $BE

Udine Wealth Management Inc. raised its stake in Bloom Energy Corporation (NYSE:BE) by 27.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,967 shares of the company’s stock after acquiring an additional 13,684 shares during the period. Bloom Energy accounts for approximately 2.6% of Udine Wealth Management Inc.’s portfolio, making the stock its 11th largest position. Udine Wealth Management Inc.’s holdings in Bloom Energy were worth $5,325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BE. Bayforest Capital Ltd purchased a new position in Bloom Energy during the 1st quarter worth approximately $2,055,000. AQR Capital Management LLC acquired a new stake in shares of Bloom Energy in the first quarter valued at approximately $1,820,000. NewEdge Advisors LLC boosted its holdings in shares of Bloom Energy by 674.7% in the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after acquiring an additional 1,626 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Bloom Energy by 50.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after acquiring an additional 836,810 shares during the last quarter. Finally, Focus Partners Wealth increased its holdings in shares of Bloom Energy by 30.7% in the 1st quarter. Focus Partners Wealth now owns 20,063 shares of the company’s stock valued at $394,000 after acquiring an additional 4,716 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

Bloom Energy Trading Down 4.6%

NYSE BE opened at $133.31 on Thursday. 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 stock has a market capitalization of $31.53 billion, a P/E ratio of 760.39, a P/E/G ratio of 11.77 and a beta of 3.01. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $147.86. The firm has a 50-day moving average price of $105.31 and a 200 day moving average price of $78.02.

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 the consensus estimate of $0.08 by $0.07. The company had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm’s quarterly revenue was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) EPS. Equities research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity

In other Bloom Energy news, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Aman Joshi sold 4,543 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the sale, the insider directly owned 219,818 shares of the company’s stock, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 120,410 shares of company stock valued at $16,557,185 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BE shares. Robert W. Baird set a $157.00 price target on shares of Bloom Energy in a research note on Wednesday, October 29th. Roth Capital reaffirmed a “neutral” rating and issued a $103.00 target price on shares of Bloom Energy in a report on Wednesday, October 29th. TD Cowen raised their price target on Bloom Energy to $105.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Morgan Stanley upped their price objective on Bloom Energy to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bloom Energy in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, Bloom Energy currently has an average rating of “Hold” and an average price target of $96.00.

Bloom Energy 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.