Forum Financial Management LP Acquires Shares of 5,618 Bloom Energy Corporation $BE

Forum Financial Management LP bought a new stake in Bloom Energy Corporation (NYSE:BE) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,618 shares of the company’s stock, valued at approximately $475,000.

A number of other institutional investors also recently modified their holdings of the business. Cranbrook Wealth Management LLC acquired a new position in Bloom Energy during the third quarter worth about $39,000. E Fund Management Hong Kong Co. Ltd. bought a new position in Bloom Energy in the 3rd quarter valued at approximately $42,000. ORG Partners LLC acquired a new stake in Bloom Energy in the third quarter valued at approximately $49,000. CoreCap Advisors LLC acquired a new position in shares of Bloom Energy during the third quarter worth $102,000. Finally, Elevation Point Wealth Partners LLC bought a new position in shares of Bloom Energy in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 36,666 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total value of $5,169,906.00. Following the transaction, the insider directly owned 225,949 shares of the company’s stock, valued at $31,858,809. The trade was a 13.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Aman Joshi sold 4,543 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the sale, the insider owned 219,818 shares in the company, valued at approximately $23,988,738.34. The trade was a 2.02% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 120,410 shares of company stock valued at $16,557,185 over the last three months. 3.50% of the stock is currently owned by corporate insiders.

Bloom Energy Price Performance

Bloom Energy stock opened at $140.01 on Wednesday. The stock’s 50 day moving average is $105.45 and its 200 day moving average is $77.63. Bloom Energy Corporation has a one year low of $15.15 and a one year high of $147.86. The firm has a market cap of $33.11 billion, a P/E ratio of 760.39, a P/E/G ratio of 11.53 and a beta of 3.01. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter was up 57.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.01) EPS. As a group, research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BE. Cowen restated a “hold” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Bank of America boosted their price target on Bloom Energy from $26.00 to $39.00 and gave the stock an “underperform” rating in a report on Tuesday, November 25th. Roth Capital reiterated a “neutral” rating and issued a $103.00 price objective on shares of Bloom Energy in a report on Wednesday, October 29th. Mizuho set a $89.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. Finally, Wedbush set a $39.00 price target on shares of Bloom Energy in a research report on Tuesday, November 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $96.00.

Bloom Energy Company Profile

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.