Meridian Wealth Management LLC Invests $553,000 in Bloom Energy Corporation $BE

Meridian Wealth Management LLC acquired a new position in shares of Bloom Energy Corporation (NYSE:BE) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 6,543 shares of the company’s stock, valued at approximately $553,000.

A number of other large investors also recently modified their holdings of BE. CWM LLC grew its holdings in Bloom Energy by 3.3% during the third quarter. CWM LLC now owns 5,111 shares of the company’s stock worth $432,000 after buying an additional 162 shares in the last quarter. Seelaus Asset Management LLC grew its stake in shares of Bloom Energy by 2.4% in the 3rd quarter. Seelaus Asset Management LLC now owns 11,420 shares of the company’s stock worth $966,000 after acquiring an additional 270 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Bloom Energy by 250.9% in the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after purchasing an additional 281 shares during the last quarter. Prospera Financial Services Inc lifted its position in shares of Bloom Energy by 0.3% during the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company’s stock valued at $2,285,000 after purchasing an additional 313 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Bloom Energy by 14.1% during the third quarter. GAMMA Investing LLC now owns 2,708 shares of the company’s stock worth $229,000 after purchasing an additional 335 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Up 8.1%

NYSE:BE opened at $168.71 on Wednesday. The company has a market capitalization of $39.90 billion, a PE ratio of 867.39, a P/E/G ratio of 13.15 and a beta of 3.07. 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 $176.49. The firm’s 50-day moving average price is $116.21 and its 200-day moving average price is $90.88.

Wall Street Analyst Weigh In

BE has been the subject of a number of research analyst reports. Oppenheimer reaffirmed a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Morgan Stanley raised their price target on Bloom Energy to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research report on Tuesday, January 27th. Susquehanna boosted their target price on Bloom Energy to $157.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group reaffirmed an “underperform” rating and set a $92.00 price objective on shares of Bloom Energy in a report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $111.13.

Insider Activity

In related news, insider Satish Chitoori sold 431 shares of the company’s stock in a transaction that occurred 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 transaction, the insider directly owned 229,449 shares of the company’s stock, valued at approximately $20,219,045.88. This represents a 0.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction on Friday, November 14th. The stock was 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. The trade was a 2.02% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 14,639 shares of company stock valued at $1,496,660 in the last quarter. 3.50% of the stock is owned by company insiders.

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.