Gilliland Jeter Wealth Management LLC Invests $203,000 in Bloom Energy Corporation $BE

Key Points

• Gilliland Jeter Wealth Management LLC has acquired a new stake in Bloom Energy Corporation worth approximately $203,000, consisting of 8,500 shares.
• Bloom Energy reports a 19.5% increase in quarterly revenue compared to the same period last year, with earnings per share exceeding expectations at $0.10.
• The company has a current market cap of $20.28 billion and a high P/E ratio of 2,167.29, indicating potential growth and investor interest.

Gilliland Jeter Wealth Management LLC acquired a new stake in Bloom Energy Corporation (NYSE:BE - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 8,500 shares of the company's stock, valued at approximately $203,000.

Several other hedge funds have also recently bought and sold shares of the company. IFP Advisors Inc lifted its position in 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 purchasing an additional 1,951 shares during the last quarter. Blair William & Co. IL lifted its position in Bloom Energy by 2.8% in the 2nd quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock valued at $389,000 after purchasing an additional 437 shares during the last quarter. KLP Kapitalforvaltning AS lifted its position in Bloom Energy by 6.8% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 42,500 shares of the company's stock valued at $1,017,000 after purchasing an additional 2,700 shares during the last quarter. Joule Financial LLC lifted its position in Bloom Energy by 7.3% in the 2nd quarter. Joule Financial LLC now owns 33,525 shares of the company's stock valued at $802,000 after purchasing an additional 2,276 shares during the last quarter. Finally, Pacific Point Advisors LLC bought a new stake in Bloom Energy in the 2nd quarter valued at about $718,000. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Stock Performance

Bloom Energy stock opened at $86.67 on Friday. The firm's 50 day simple moving average is $60.58 and its 200-day simple moving average is $34.95. The company has a market cap of $20.28 billion, a P/E ratio of 2,167.29, a price-to-earnings-growth ratio of 138.92 and a beta of 3.48. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. Bloom Energy Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $95.69.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.08. The business had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.06) earnings per share. 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

Several equities analysts have commented on the stock. Royal Bank Of Canada set a $75.00 target price on shares of Bloom Energy in a research note on Tuesday, September 30th. UBS Group reissued an "underperform" rating on shares of Bloom Energy in a research note on Wednesday, October 1st. Weiss Ratings reissued a "hold (c-)" rating on shares of Bloom Energy in a research note on Wednesday. Wells Fargo & Company raised their target price on shares of Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a research note on Friday, September 12th. Finally, Zacks Research raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Friday, October 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, nine have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat.com, Bloom Energy has an average rating of "Hold" and an average price target of $50.38.

Insider Buying and Selling at Bloom Energy

In related news, insider Satish Chitoori sold 400 shares of the firm's stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $71.16, for a total transaction of $28,464.00. Following the completion of the sale, the insider directly owned 231,965 shares in the company, valued at approximately $16,506,629.40. This trade represents a 0.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the sale, the insider owned 225,949 shares of the company's stock, valued at approximately $11,749,348. This represents a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 302,205 shares of company stock valued at $14,919,283 in the last 90 days. Corporate insiders own 3.60% of the company's stock.

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.

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