Bloom Energy Co. (NYSE:BE) Shares Purchased by Gilliland Jeter Wealth Management LLC

Gilliland Jeter Wealth Management LLC lifted its stake in shares of Bloom Energy Co. (NYSE:BE) by 97.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 8,500 shares of the company’s stock after acquiring an additional 4,200 shares during the quarter. Gilliland Jeter Wealth Management LLC’s holdings in Bloom Energy were worth $90,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. BNP Paribas purchased a new position in Bloom Energy in the 1st quarter worth about $38,000. ORG Partners LLC acquired a new stake in shares of Bloom Energy during the second quarter valued at approximately $40,000. Quest Partners LLC lifted its position in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after acquiring an additional 3,475 shares in the last quarter. Mather Group LLC. acquired a new position in Bloom Energy in the 2nd quarter worth approximately $66,000. Finally, Itau Unibanco Holding S.A. purchased a new position in Bloom Energy during the 2nd quarter worth approximately $103,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Truist Financial lowered their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and cut their price target for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Piper Sandler boosted their price target on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Bank of America raised their price objective on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and an average target price of $15.68.

Bloom Energy Stock Performance

Shares of Bloom Energy stock opened at $10.16 on Monday. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $18.14. The firm has a market capitalization of $2.31 billion, a PE ratio of -7.53 and a beta of 2.69. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. The company’s fifty day moving average price is $10.83 and its two-hundred day moving average price is $12.16.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.32) earnings per share. On average, analysts expect that Bloom Energy Co. will post -0.25 EPS for the current year.

Bloom Energy Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.