Pinnacle Wealth Management Advisory Group LLC Acquires New Position in Bloom Energy Corporation $BE

Pinnacle Wealth Management Advisory Group LLC acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,810 shares of the company’s stock, valued at approximately $576,000.

Several other hedge funds also recently made changes to their positions in BE. Cranbrook Wealth Management LLC acquired a new stake in shares of Bloom Energy during the 3rd quarter valued at approximately $39,000. Elevation Point Wealth Partners LLC bought a new stake in Bloom Energy during the second quarter valued at $36,000. Sound Income Strategies LLC increased its stake in Bloom Energy by 75.7% during the third quarter. Sound Income Strategies LLC now owns 1,553 shares of the company’s stock valued at $135,000 after purchasing an additional 669 shares during the last quarter. Banque Transatlantique SA raised its holdings in shares of Bloom Energy by 227.6% during the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock worth $30,000 after purchasing an additional 1,161 shares during the period. Finally, NewEdge Advisors LLC lifted its position in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after buying an additional 1,626 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Stock Performance

BE opened at $86.62 on Friday. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The business’s 50 day moving average is $106.47 and its 200-day moving average is $71.52. The stock has a market cap of $20.49 billion, a PE ratio of 482.72, a price-to-earnings-growth ratio of 54.88 and a beta of 3.02. Bloom Energy Corporation has a twelve month low of $15.15 and a twelve month high of $147.86.

Bloom Energy (NYSE:BE) last posted its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The firm 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 revenue was up 57.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.01) EPS. On average, analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BE. Daiwa Capital Markets set a $98.00 price objective on shares of Bloom Energy in a research report on Tuesday, December 2nd. Jefferies Financial Group restated an “underperform” rating and issued a $53.00 target price on shares of Bloom Energy in a research note on Friday, October 31st. Susquehanna increased their price target on Bloom Energy to $157.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Royal Bank Of Canada reissued an “outperform” rating and issued a $123.00 price target on shares of Bloom Energy in a report on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research report on Thursday, October 30th. One 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.com, the stock has a consensus rating of “Hold” and a consensus target price of $93.77.

Insider Buying and Selling at Bloom Energy

In related news, insider Maciej Kurzymski sold 3,264 shares of the company’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $86.48, for a total value of $282,270.72. Following the completion of the sale, the insider owned 90,005 shares of the company’s stock, valued at $7,783,632.40. This represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,583 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $105.97, for a total transaction of $167,750.51. Following the transaction, the insider directly owned 221,633 shares in the company, valued at approximately $23,486,449.01. The trade was a 0.71% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 120,410 shares of company stock valued at $16,557,185. 3.60% of the stock is currently owned by insiders.

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.