Straight Path Wealth Management Makes New Investment in Bloom Energy Corporation $BE

Straight Path Wealth Management purchased a new stake in Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, Holdings Channel.com reports. The fund purchased 13,000 shares of the company’s stock, valued at approximately $1,099,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. N.E.W. Advisory Services LLC purchased a new position in shares of Bloom Energy in the 3rd quarter worth $32,000. Parkside Financial Bank & Trust raised its stake in shares of Bloom Energy by 250.9% during 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 period. Cranbrook Wealth Management LLC purchased a new position in shares of Bloom Energy in the third quarter valued at $39,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Bloom Energy in the 3rd quarter worth $42,000. Finally, ORG Partners LLC acquired a new stake in shares of Bloom Energy during the third quarter valued at about $49,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BE has been the subject of several research analyst reports. Zacks Research lowered Bloom Energy from a “strong-buy” rating to a “hold” rating in a report on Monday, November 3rd. Royal Bank Of Canada set a $143.00 target price on shares of Bloom Energy in a report on Tuesday, January 20th. BMO Capital Markets set a $136.00 target price on Bloom Energy in a research note on Wednesday, October 29th. Susquehanna upped their price target on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Finally, BTIG Research lifted their price objective on shares of Bloom Energy to $145.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. 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 given a Sell rating to the stock. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and an average price target of $102.43.

Bloom Energy Price Performance

BE opened at $139.07 on Tuesday. The firm has a market capitalization of $32.89 billion, a P/E ratio of 804.94, a PEG ratio of 12.20 and a beta of 3.01. Bloom Energy Corporation has a 12-month low of $15.15 and a 12-month high of $155.87. 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 fifty day moving average of $108.94 and a 200-day moving average of $85.25.

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

Insider Buying and Selling at Bloom Energy

In other news, insider Aman Joshi sold 4,543 shares of Bloom Energy 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 in the company, valued at $23,988,738.34. The trade was a 2.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Satish Chitoori sold 431 shares of the 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 completion of the transaction, the insider owned 229,449 shares in the company, valued at $20,219,045.88. This represents a 0.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 120,410 shares of company stock valued at $16,557,185 in the last quarter. Corporate insiders own 3.50% of the company’s stock.

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.