Gilliland Jeter Wealth Management LLC Raises Position in Bloom Energy Co. (NYSE:BE)

Gilliland Jeter Wealth Management LLC raised its position in Bloom Energy Co. (NYSE:BE) by 97.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 quarter.

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

Bloom Energy Price Performance

Bloom Energy stock opened at $10.16 on Monday. The company’s 50-day moving average price is $10.83 and its two-hundred day moving average price is $12.16. The stock has a market cap of $2.31 billion, a price-to-earnings ratio of -7.53 and a beta of 2.69. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $18.14. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Susquehanna dropped their price objective on Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a report on Wednesday, October 16th. JPMorgan Chase & Co. increased their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Piper Sandler lifted their target price on Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Finally, Truist Financial reduced their price objective 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. 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’s stock. According to data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $15.68.

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.