Long Run Wealth Advisors LLC Invests $541,000 in Bloom Energy Corporation $BE

Long Run Wealth Advisors LLC bought a new stake in Bloom Energy Corporation (NYSE:BE) in the 3rd quarter, Holdings Channel.com reports. The firm bought 6,398 shares of the company’s stock, valued at approximately $541,000.

A number of other hedge funds have also recently added to or reduced their stakes in BE. Elevation Point Wealth Partners LLC acquired a new position in Bloom Energy during the second quarter worth approximately $36,000. Banque Transatlantique SA boosted its holdings in shares of Bloom Energy by 227.6% in the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after acquiring an additional 1,161 shares during the period. NewEdge Advisors LLC grew its position in shares of Bloom Energy by 674.7% during the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after acquiring an additional 1,626 shares during the last quarter. IFP Advisors Inc increased its holdings in shares of Bloom Energy by 1,560.8% in the 2nd quarter. IFP Advisors Inc now owns 2,076 shares of the company’s stock valued at $50,000 after acquiring an additional 1,951 shares during the period. Finally, Bernard Wealth Management Corp. raised its position in Bloom Energy by 150.0% in the 2nd quarter. Bernard Wealth Management Corp. now owns 2,500 shares of the company’s stock valued at $60,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insiders Place Their Bets

In related news, Director Jim H. Snabe sold 20,000 shares of Bloom Energy stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total transaction of $2,860,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Satish Chitoori sold 431 shares of Bloom Energy stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $88.12, for a total transaction of $37,979.72. Following the sale, the insider owned 229,449 shares of the company’s stock, valued at approximately $20,219,045.88. This trade represents a 0.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 120,410 shares of company stock valued at $16,557,185. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. UBS Group boosted their price objective on shares of Bloom Energy to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. TD Cowen lifted their price objective on Bloom Energy to $105.00 and gave the company a “hold” rating in a report on Wednesday, October 29th. Jefferies Financial Group reissued an “underperform” rating and issued a $53.00 price target on shares of Bloom Energy in a report on Friday, October 31st. Finally, Cowen restated a “hold” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $93.77.

Bloom Energy Price Performance

BE stock opened at $80.05 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 company has a market cap of $18.93 billion, a price-to-earnings ratio of 486.72, a PEG ratio of 48.61 and a beta of 3.00. Bloom Energy Corporation has a 12-month low of $15.15 and a 12-month high of $147.86. The firm has a 50 day moving average of $109.86 and a 200-day moving average of $66.77.

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

About Bloom Energy

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.