Sage Rhino Capital LLC Makes New $602,000 Investment in Bloom Energy Corporation $BE

Sage Rhino Capital LLC bought a new stake in Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 7,115 shares of the company’s stock, valued at approximately $602,000.

A number of other large investors have also recently made changes to their positions in the company. N.E.W. Advisory Services LLC acquired a new position in Bloom Energy during the third quarter worth approximately $32,000. Parkside Financial Bank & Trust increased its holdings in shares of Bloom Energy by 250.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after acquiring an additional 281 shares during the period. Elevation Point Wealth Partners LLC acquired a new position in shares of Bloom Energy in the 2nd quarter valued at $36,000. NewEdge Advisors LLC raised its position in Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock valued at $37,000 after purchasing an additional 1,626 shares during the last quarter. Finally, Cranbrook Wealth Management LLC purchased a new position in Bloom Energy during the 3rd quarter worth $39,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 431 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $88.12, for a total value of $37,979.72. Following the completion of the transaction, the insider owned 229,449 shares in the company, valued at $20,219,045.88. This trade represents a 0.19% 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 Shawn Marie Soderberg sold 1,583 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $105.97, for a total transaction of $167,750.51. Following the completion of the sale, the insider owned 221,633 shares in the company, valued at $23,486,449.01. This represents a 0.71% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 120,410 shares of company stock worth $16,557,185. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BE shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. Wells Fargo & Company upped their price objective on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Jefferies Financial Group reiterated an “underperform” rating and issued a $53.00 target price on shares of Bloom Energy in a research note on Friday, October 31st. Roth Mkm restated a “neutral” rating and set a $103.00 price target on shares of Bloom Energy in a research note on Wednesday, October 29th. Finally, UBS Group lifted their price objective on shares of Bloom Energy to $115.00 and gave the company a “buy” rating in a research report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.57.

Bloom Energy Trading Down 0.7%

Shares of BE stock opened at $144.63 on Monday. The business’s fifty day moving average price is $108.30 and its 200 day moving average price is $84.45. The firm has a market capitalization of $34.21 billion, a PE ratio of 804.94, a P/E/G ratio of 12.20 and a beta of 3.01. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. Bloom Energy Corporation has a 1-year low of $15.15 and a 1-year high of $155.87.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating 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 business had revenue of $519.05 million during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter last year, the firm posted ($0.01) EPS. The business’s revenue was up 57.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

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.