Wealth Enhancement Advisory Services LLC Has $490,000 Position in Bloom Energy Co. (NYSE:BE)

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Bloom Energy Co. (NYSE:BE) by 57.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,400 shares of the company’s stock after purchasing an additional 16,973 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Bloom Energy were worth $490,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in BE. Electron Capital Partners LLC lifted its position in shares of Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after buying an additional 1,790,733 shares during the period. Artemis Investment Management LLP acquired a new position in Bloom Energy during the second quarter worth $7,502,000. DigitalBridge Group Inc. lifted its holdings in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after acquiring an additional 462,581 shares during the period. Pier Capital LLC acquired a new stake in shares of Bloom Energy in the 2nd quarter valued at $5,602,000. Finally, DekaBank Deutsche Girozentrale grew its holdings in shares of Bloom Energy by 762.3% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock worth $5,712,000 after purchasing an additional 446,074 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler reissued a “neutral” rating and set a $10.00 price target (down from $11.00) on shares of Bloom Energy in a report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. Truist Financial lowered their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Finally, Susquehanna reduced their price target on shares of Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $14.92.

Bloom Energy Stock Performance

BE stock opened at $13.17 on Friday. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $18.14. The business’s fifty day moving average is $10.42 and its 200-day moving average is $12.10. The company has a market cap of $3.00 billion, a P/E ratio of -10.13 and a beta of 2.71.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.32) EPS. Equities research analysts forecast that Bloom Energy Co. will post -0.27 EPS for the current year.

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.