Udine Wealth Management Inc. Raises Stake in Bloom Energy Corporation $BE

Udine Wealth Management Inc. lifted its position in shares of Bloom Energy Corporation (NYSE:BE) by 22.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 49,283 shares of the company’s stock after purchasing an additional 8,886 shares during the quarter. Udine Wealth Management Inc.’s holdings in Bloom Energy were worth $1,179,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of BE. Banque Transatlantique SA boosted its holdings in Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock worth $30,000 after acquiring an additional 1,161 shares during the period. Harbour Investments Inc. boosted its holdings in Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock worth $31,000 after acquiring an additional 1,512 shares during the period. NewEdge Advisors LLC boosted its holdings in 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 acquiring an additional 1,626 shares during the period. Vision Financial Markets LLC purchased a new position in Bloom Energy in the 1st quarter worth approximately $39,000. Finally, ORG Wealth Partners LLC purchased a new position in Bloom Energy in the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling at Bloom Energy

In related news, insider Satish Chitoori sold 400 shares of the company’s stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $71.16, for a total transaction of $28,464.00. Following the sale, the insider directly owned 231,965 shares of the company’s stock, valued at approximately $16,506,629.40. This represents a 0.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Aman Joshi sold 4,870 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the sale, the insider directly owned 224,361 shares in the company, valued at approximately $9,728,292.96. This represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 302,205 shares of company stock worth $14,919,283. 3.60% of the stock is owned by insiders.

Bloom Energy Stock Performance

BE stock opened at $86.93 on Friday. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The firm has a market cap of $20.34 billion, a P/E ratio of 2,173.79, a P/E/G ratio of 137.79 and a beta of 3.48. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $95.69. The stock’s 50 day simple moving average is $61.58 and its 200 day simple moving average is $35.48.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The business had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The business’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current year.

Analyst Upgrades and Downgrades

BE has been the subject of a number of analyst reports. Wells Fargo & Company upped their price target on Bloom Energy from $38.00 to $65.00 and gave the stock an “equal weight” rating in a report on Friday, September 12th. Jefferies Financial Group cut Bloom Energy from a “hold” rating to an “underperform” rating and upped their price target for the stock from $24.00 to $31.00 in a report on Wednesday, September 24th. BTIG Research increased their target price on Bloom Energy from $42.00 to $80.00 and gave the company a “buy” rating in a research note on Monday, September 29th. UBS Group reiterated an “underperform” rating on shares of Bloom Energy in a research note on Wednesday, October 1st. Finally, Bank of America increased their target price on Bloom Energy from $21.00 to $24.00 and gave the company an “underperform” rating in a research note on Tuesday, September 23rd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, ten have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average price target of $50.38.

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.