Palumbo Wealth Management LLC Acquires 7,368 Shares of Bloom Energy Corporation $BE

Palumbo Wealth Management LLC boosted its holdings in Bloom Energy Corporation (NYSE:BE) by 45.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,444 shares of the company’s stock after purchasing an additional 7,368 shares during the quarter. Palumbo Wealth Management LLC’s holdings in Bloom Energy were worth $1,983,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BE. Graticule Asia Macro Advisors LLC bought a new position in shares of Bloom Energy during the third quarter worth $402,494,000. Trivest Advisors Ltd lifted its stake in Bloom Energy by 1,461.6% in the 3rd quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company’s stock worth $289,229,000 after purchasing an additional 3,201,000 shares in the last quarter. Norges Bank bought a new position in shares of Bloom Energy during the 2nd quarter valued at about $57,821,000. Man Group plc grew its position in shares of Bloom Energy by 177.4% during the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock valued at $57,239,000 after purchasing an additional 1,530,167 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Bloom Energy by 6.3% during the third quarter. Vanguard Group Inc. now owns 20,807,920 shares of the company’s stock valued at $1,759,726,000 after purchasing an additional 1,240,819 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Up 8.5%

Shares of BE opened at $160.14 on Tuesday. The company has a quick ratio of 4.95, a current ratio of 5.98 and a debt-to-equity ratio of 3.54. The business has a fifty day moving average of $128.20 and a 200 day moving average of $102.12. The company has a market cap of $44.93 billion, a PE ratio of -421.43, a P/E/G ratio of 6.10 and a beta of 3.07. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $176.49.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, February 5th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.20. The business had revenue of $777.68 million for the quarter, compared to the consensus estimate of $647.59 million. Bloom Energy had a negative net margin of 4.37% and a positive return on equity of 7.88%. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.43 earnings per share. Bloom Energy has set its FY 2026 guidance at 1.330-1.480 EPS. On average, sell-side analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity

In other news, insider Aman Joshi sold 3,746 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $139.81, for a total transaction of $523,728.26. Following the transaction, the insider owned 201,072 shares of the company’s stock, valued at approximately $28,111,876.32. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Shawn Marie Soderberg sold 3,332 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $139.56, for a total value of $465,013.92. Following the completion of the sale, the insider owned 219,871 shares in the company, valued at approximately $30,685,196.76. The trade was a 1.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 12,294 shares of company stock valued at $1,520,974. Company insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Mizuho increased their price target on Bloom Energy to $110.00 and gave the company a “neutral” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. raised their target price on shares of Bloom Energy to $166.00 and gave the company an “overweight” rating in a report on Friday, February 6th. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research report on Tuesday, January 27th. Morgan Stanley increased their price objective on shares of Bloom Energy to $184.00 and gave the company an “overweight” rating in a research report on Friday, February 6th. Finally, UBS Group reissued a “buy” rating and issued a $170.00 price objective on shares of Bloom Energy in a research note on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $130.50.

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.