Bloom Energy Corporation $BE Shares Newly Bought by Retirement Systems of Alabama

Retirement Systems of Alabama acquired a new position in Bloom Energy Corporation (NYSE:BE) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 61,766 shares of the company’s stock, valued at approximately $17,108,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BE. Montanova Capital LLC purchased a new position in shares of Bloom Energy during the 2nd quarter valued at about $10,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Bloom Energy by 78.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock valued at $401,849,000 after purchasing an additional 583,135 shares in the last quarter. Militia Capital Management LLC purchased a new position in Bloom Energy during the first quarter valued at approximately $813,000. Assenagon Asset Management S.A. lifted its holdings in Bloom Energy by 3,398.3% during the second quarter. Assenagon Asset Management S.A. now owns 239,877 shares of the company’s stock valued at $72,611,000 after purchasing an additional 233,020 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Bloom Energy by 28.7% in the first quarter. Sei Investments Co. now owns 365,975 shares of the company’s stock worth $49,586,000 after purchasing an additional 81,584 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Bloom Energy

In other news, insider Aman Joshi sold 8,437 shares of the company’s stock in a transaction dated Thursday, October 1st. The shares were sold at an average price of $277.17, for a total value of $2,338,483.29. Following the transaction, the insider directly owned 147,092 shares in the company, valued at approximately $40,769,489.64. This represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John T. Chambers sold 8,828 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $203.43, for a total transaction of $1,795,880.04. Following the completion of the sale, the director directly owned 199,505 shares of the company’s stock, valued at approximately $40,585,302.15. This trade represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 61,234 shares of company stock valued at $14,941,626. Company insiders own 3.00% of the company’s stock.

Latest Bloom Energy News

Investors following BE have been watching these news items:

• Positive Sentiment: Strong third-quarter results from major customer CoreWeave eased fears about AI data-center spending and lifted sentiment across power suppliers, helping BE rally on Wednesday. Bloom Energy stock surges as CoreWeave earnings spur rally in power stocks
• Positive Sentiment: Bloom’s fuel cells have attracted AI hyperscalers, and reported large-scale orders and a record quarter underscore the potential for data-center power demand to expand its market. RBC also assigned the stock an “Outperform” rating. Bloom Energy Has Found an Unexpected Customer: AI
• Negative Sentiment: Investors remain concerned that any slowdown in AI infrastructure investment could curb electricity demand. Coverage also highlights cash-burn and valuation concerns, which may weigh on shares despite the growth opportunity. These Energy Stocks Can’t Escape Nvidia’s Wake

Analysts Set New Price Targets

BE has been the subject of several recent analyst reports. Mizuho upped their target price on shares of Bloom Energy from $242.00 to $351.00 and gave the stock an “outperform” rating in a report on Monday, September 14th. Wells Fargo & Company increased their target price on Bloom Energy from $176.00 to $182.00 and gave the stock an “equal weight” rating in a research report on Monday, October 26th. Zacks Research cut Bloom Energy from a “strong-buy” rating to a “hold” rating in a report on Friday, October 2nd. Truist Financial lifted their price objective on shares of Bloom Energy from $218.00 to $240.00 and gave the company a “hold” rating in a research report on Friday, October 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $335.00 target price on shares of Bloom Energy in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $263.05.

Bloom Energy Price Performance

NYSE:BE opened at $202.03 on Friday. The firm has a market capitalization of $59.73 billion, a price-to-earnings ratio of 109.67, a PEG ratio of 2.12 and a beta of 3.63. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08. The business has a 50 day simple moving average of $244.91 and a 200-day simple moving average of $222.04. Bloom Energy Corporation has a 1 year low of $75.70 and a 1 year high of $351.28.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.25. The company had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.07 billion. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. Bloom Energy’s revenue was up 138.1% on a year-over-year basis. During the same period last year, the company earned $0.15 earnings per share. Equities analysts forecast that Bloom Energy Corporation will post 2.61 EPS for the current year.

Bloom Energy Company Profile

Bloom Energy Corporation develops solid oxide fuel cell technology for on-site electricity generation and hydrogen production. Its Bloom Energy Server systems generate power near the point of use, helping businesses and institutions meet electricity needs and support resilient energy operations. The company also offers solid oxide electrolyzers designed to produce hydrogen. Founded in 2001 by K.R. Sridhar, Bloom Energy is headquartered in San Jose, California. It serves customers in the United States and international markets, including countries in Asia.