Bloom Energy Corporation $BE Shares Purchased by Canton Hathaway LLC

Canton Hathaway LLC boosted its stake in Bloom Energy Corporation (NYSE:BE) by 207.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 74,085 shares of the company’s stock after purchasing an additional 49,985 shares during the period. Bloom Energy comprises approximately 1.2% of Canton Hathaway LLC’s portfolio, making the stock its 11th largest position. Canton Hathaway LLC’s holdings in Bloom Energy were worth $6,265,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cranbrook Wealth Management LLC purchased a new position in shares of Bloom Energy during the third quarter worth $39,000. E Fund Management Hong Kong Co. Ltd. acquired a new position in Bloom Energy during the 3rd quarter worth about $42,000. CoreCap Advisors LLC purchased a new position in Bloom Energy during the 3rd quarter valued at about $102,000. Elevation Point Wealth Partners LLC acquired a new position in Bloom Energy in the 2nd quarter valued at about $36,000. Finally, Sound Income Strategies LLC grew its position in Bloom Energy by 75.7% in the 3rd quarter. Sound Income Strategies LLC now owns 1,553 shares of the company’s stock valued at $135,000 after acquiring an additional 669 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Buying and Selling

In other news, Director Mary K. Bush sold 36,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total value of $5,141,520.00. Following the completion of the sale, the director directly owned 133,524 shares of the company’s stock, valued at approximately $19,069,897.68. This represents a 21.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction on Friday, November 14th. The shares were sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the transaction, the insider directly owned 219,818 shares in the company, valued at $23,988,738.34. The trade was a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 120,410 shares of company stock valued at $16,557,185 over the last ninety days. Company insiders own 3.60% of the company’s stock.

Bloom Energy Stock Performance

Shares of BE opened at $107.94 on Thursday. The company has a market capitalization of $25.53 billion, a price-to-earnings ratio of 572.50, a price-to-earnings-growth ratio of 8.68 and a beta of 3.01. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $147.86. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The stock has a 50 day moving average price of $105.45 and a 200 day moving average price of $74.15.

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

Analyst Ratings Changes

Several brokerages recently weighed in on BE. BTIG Research upped their target price on shares of Bloom Energy to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Wells Fargo & Company upped their price objective on Bloom Energy to $95.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 21st. Cowen reiterated a “hold” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Evercore ISI reissued an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 13th. Finally, Morgan Stanley increased their price target on Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report 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 given a Sell rating to the company. According to data from MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus price target of $93.77.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.