18,484 Bloom Energy Corporation $BE Shares Purchased by Elite Wealth Management Inc.

Key Points

• Elite Wealth Management increased its Bloom Energy stake by 195.8%, buying 18,484 shares in the third quarter to hold 27,922 shares worth about $7.7 million.
• Bloom Energy reported quarterly EPS of $0.94, beating the $0.69 estimate, while revenue of $1.24 billion rose 138.1% year over year. Its agreement with NTT DATA to deploy 900 megawatts of onsite power also highlights growth potential in data centers.
• Analysts’ consensus rating is Hold, with an average price target of $263.05. The article also notes risks from concerns about data-center approvals and AI infrastructure spending, alongside recent insider share sales.

Elite Wealth Management Inc. lifted its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 195.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,922 shares of the company's stock after buying an additional 18,484 shares during the period. Bloom Energy comprises 1.5% of Elite Wealth Management Inc.'s holdings, making the stock its 18th largest position. Elite Wealth Management Inc.'s holdings in Bloom Energy were worth $7,734,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BE. Continuum Advisory LLC acquired a new stake in shares of Bloom Energy during the second quarter worth $25,000. Trifecta Capital Advisors LLC acquired a new stake in Bloom Energy in the 3rd quarter valued at $26,000. Anchor Investment Management LLC acquired a new stake in Bloom Energy in the 1st quarter valued at $27,000. REAP Financial Group LLC bought a new stake in Bloom Energy during the 3rd quarter worth about $28,000. Finally, MJT & Associates Financial Advisory Group Inc. lifted its position in Bloom Energy by 49.3% during the 2nd quarter. MJT & Associates Financial Advisory Group Inc. now owns 112 shares of the company's stock worth $34,000 after buying an additional 37 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 2,870 shares of the firm's stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $270.06, for a total value of $775,072.20. Following the completion of the sale, the insider directly owned 202,494 shares in the company, valued at approximately $54,685,529.64. This trade represents a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aman Joshi sold 8,437 shares of the firm's stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $277.17, for a total transaction of $2,338,483.29. Following the completion of the sale, the insider owned 147,092 shares of the company's stock, valued at $40,769,489.64. This trade represents a 5.42% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 85,859 shares of company stock worth $20,994,650 over the last ninety days. Company insiders own 3.00% of the company's stock.

Analyst Upgrades and Downgrades

BE has been the subject of a number of recent research reports. Weiss Ratings restated a "hold (c)" rating on shares of Bloom Energy in a research note on Monday, October 19th. Oppenheimer reaffirmed a "market perform" rating on shares of Bloom Energy in a research report on Friday, October 23rd. Sanford C. Bernstein upped their target price on Bloom Energy from $282.00 to $306.00 and gave the stock a "market perform" rating in a report on Friday, October 23rd. Zacks Research lowered Bloom Energy from a "strong-buy" rating to a "hold" rating in a report on Friday, October 2nd. Finally, Mizuho increased their price target on Bloom Energy from $242.00 to $351.00 and gave the company an "outperform" rating in a research report on Monday, September 14th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $263.05.

Bloom Energy News Roundup

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: BE shares rebounded as fuel-cell stocks clawed back some post-election losses; a technical-trading report also noted the stock found support near $163. Fuel-cell stocks rebound
• Positive Sentiment: Bloom’s agreement with NTT DATA to deploy 900 megawatts of onsite power across data-center projects supports the company’s growth opportunity in power-hungry facilities. Recent quarterly results also beat estimates, and Bloom raised its full-year outlook. NTT DATA agreement Bloom Energy outlook
• Neutral Sentiment: Director Barbara Burger sold 2,333 shares for about $502,000, reducing her stake by roughly 6%; she still held 36,607 shares after the sale. Director share sale
• Negative Sentiment: Election-related fears about potential changes to data-center approvals and the pace of AI infrastructure investment recently pressured Bloom and other AI-power stocks. That concern remains a risk despite the NTT DATA contract. AI data-center concerns

Bloom Energy Price Performance

Shares of BE opened at $173.35 on Monday. The company has a market cap of $51.25 billion, a price-to-earnings ratio of 106.35, a PEG ratio of 1.75 and a beta of 3.63. Bloom Energy Corporation has a 1-year low of $75.70 and a 1-year high of $351.28. The company's fifty day simple moving average is $246.00 and its 200 day simple moving average is $220.98. The company has a current ratio of 3.74, a quick ratio of 3.08 and a debt-to-equity ratio of 1.33.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.25. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.07 billion. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The company's quarterly revenue was up 138.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. On average, research analysts forecast that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

About Bloom Energy

Bloom Energy Corporation develops solid oxide fuel cell technology for on-site electricity generation and hydrogen production. Its Bloom Energy Server systems generate power near the point of use, helping businesses and institutions meet electricity needs and support resilient energy operations. The company also offers solid oxide electrolyzers designed to produce hydrogen.

Founded in 2001 by K.R. Sridhar, Bloom Energy is headquartered in San Jose, California. It serves customers in the United States and international markets, including countries in Asia.

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