Pinnacle Associates Ltd. lessened its stake in shares of Bloom Energy Corporation (NYSE:BE – Free Report) by 29.0% during the 4th quarter, Holdings Channel reports. The firm owned 236,027 shares of the company’s stock after selling 96,288 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Bloom Energy were worth $20,508,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently bought and sold shares of BE. WPG Advisers LLC boosted its holdings in shares of Bloom Energy by 26.4% in the 4th quarter. WPG Advisers LLC now owns 321 shares of the company’s stock valued at $28,000 after acquiring an additional 67 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Bloom Energy in the 3rd quarter valued at $32,000. N.E.W. Advisory Services LLC purchased a new stake in shares of Bloom Energy in the 3rd quarter valued at $32,000. Parkside Financial Bank & Trust boosted its holdings in shares of Bloom Energy by 250.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after acquiring an additional 281 shares during the last quarter. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Bloom Energy in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.
Bloom Energy Stock Performance
BE opened at $290.05 on Thursday. The company has a debt-to-equity ratio of 2.90, a current ratio of 5.03 and a quick ratio of 4.10. The firm has a fifty day moving average price of $188.64 and a 200 day moving average price of $146.87. Bloom Energy Corporation has a 1 year low of $17.01 and a 1 year high of $302.99. The stock has a market cap of $82.50 billion, a P/E ratio of -5,799.74 and a beta of 3.82.
Bloom Energy News Summary
Here are the key news stories impacting Bloom Energy this week:
- Positive Sentiment: Bloom Energy landed a large AI data center-related order, with Federal Pacific announcing its biggest-ever single contract to supply medium-voltage switchgear and engineering services for a Bloom-backed project, reinforcing demand for Bloom’s power solutions in AI infrastructure. Bloom Energy Lands Record AI Deal As Valuation Stretches Above Targets
- Positive Sentiment: Jim Cramer publicly backed Bloom Energy, saying investors “should buy it” and highlighting that data centers are “going crazy for it,” which may be boosting sentiment around the stock’s role in AI power demand. Jim Cramer on Bloom Energy: “All the Data Centers Are Going Crazy for It”
- Positive Sentiment: Barclays reportedly raised its price target on Bloom Energy, adding to the view that the company’s AI data center power opportunity is getting bigger. Barclays Just Hiked Bloom Energy Price Target to $254: AI Data Center Power Story Just Got Bigger
- Neutral Sentiment: Multiple articles framed Bloom Energy as a high-momentum, long-term growth stock, but these pieces are more commentary than new business developments. 2 Reasons Bloom Energy Is a Once-in-a-Decade Stock Pick for Long-Term Investors
- Neutral Sentiment: The company is also being mentioned in broader clean-energy and solid-oxide fuel cell market coverage, but this does not appear to be a direct near-term stock-moving catalyst. $143.66 Bn Solid Oxide Fuel Cell Market, 2040 with Adelan, Aisin, AVL List, Bloom Energy, Ceres Power Leading
Wall Street Analysts Forecast Growth
Several analysts have recently commented on BE shares. Evercore reaffirmed an “outperform” rating and issued a $179.00 price objective on shares of Bloom Energy in a report on Friday, February 6th. Barclays upped their price objective on shares of Bloom Energy to $254.00 and gave the company an “equal weight” rating in a report on Monday. Robert W. Baird upped their price objective on shares of Bloom Energy to $242.00 and gave the company an “outperform” rating in a report on Wednesday, April 22nd. China Renaissance started coverage on shares of Bloom Energy in a report on Wednesday, January 28th. They issued a “buy” rating and a $207.00 price objective on the stock. Finally, TD Cowen upped their price objective on shares of Bloom Energy to $235.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $217.48.
Check Out Our Latest Analysis on BE
Insider Transactions at Bloom Energy
In related news, insider Shawn Marie Soderberg sold 35,000 shares of the business’s stock in a transaction on Wednesday, April 29th. The shares were sold at an average price of $279.00, for a total value of $9,765,000.00. Following the completion of the transaction, the insider directly owned 341,731 shares in the company, valued at $95,342,949. The trade was a 9.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Satish Chitoori sold 20,000 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $204.23, for a total transaction of $4,084,600.00. Following the completion of the transaction, the insider owned 212,365 shares of the company’s stock, valued at approximately $43,371,303.95. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 515,092 shares of company stock worth $95,003,475. Insiders own 3.00% of the company’s stock.
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.
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