Retirement Systems of Alabama Purchases New Position in Bloom Energy Corporation $BE

Retirement Systems of Alabama acquired a new stake in shares of Bloom Energy Corporation (NYSE:BE) during the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 61,766 shares of the company’s stock, valued at approximately $17,108,000.

Other large investors have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. raised its holdings in Bloom Energy by 49.3% in the second quarter. MJT & Associates Financial Advisory Group Inc. now owns 112 shares of the company’s stock worth $34,000 after purchasing an additional 37 shares in the last quarter. Compound Planning Inc. grew its position in shares of Bloom Energy by 1.1% in the 1st quarter. Compound Planning Inc. now owns 3,445 shares of the company’s stock worth $467,000 after buying an additional 38 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Bloom Energy by 13.8% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 355 shares of the company’s stock worth $98,000 after acquiring an additional 43 shares in the last quarter. Carolina Wealth Advisors LLC raised its stake in shares of Bloom Energy by 51.7% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 135 shares of the company’s stock worth $41,000 after acquiring an additional 46 shares in the last quarter. Finally, Truefg LLC grew its holdings in Bloom Energy by 2.4% in the third quarter. Truefg LLC now owns 2,048 shares of the company’s stock worth $567,000 after purchasing an additional 48 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Bloom Energy news, Director John T. Chambers sold 8,828 shares of Bloom Energy 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 transaction, the director directly owned 199,505 shares of the company’s stock, valued at $40,585,302.15. The trade was a 4.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Soderberg sold 2,870 shares of the stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $270.07, for a total transaction of $775,100.90. Following the completion of the sale, the insider directly owned 126,500 shares of the company’s stock, valued at approximately $34,163,855. This trade represents a 2.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 61,234 shares of company stock worth $14,941,626. 3.00% of the stock is currently owned by insiders.

Trending Headlines about Bloom Energy

Investors following BE have been watching these headlines:

• 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
• Neutral Sentiment: The AI-driven outlook has made BE highly sensitive to news about data-center customers and spending, contributing to sharp swings in the stock. What’s Propelling Bloom Energy’s (BE) 13% Run?

Analysts Set New Price Targets

Several analysts have recently commented on the company. Wells Fargo & Company increased their price objective on Bloom Energy from $176.00 to $182.00 and gave the company an “equal weight” rating in a report on Monday, October 26th. Oppenheimer reissued a “market perform” rating on shares of Bloom Energy in a report on Friday, October 23rd. Evercore reissued an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 26th. JPMorgan Chase & Co. decreased their price target on shares of Bloom Energy from $314.00 to $292.00 and set an “overweight” rating for the company in a report on Friday, October 23rd. Finally, Barclays raised shares of Bloom Energy from an “equal weight” rating to an “overweight” rating and dropped their price objective for the company from $316.00 to $289.00 in a report on Tuesday, November 3rd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $263.05.

Bloom Energy Trading Down 3.6%

Shares of NYSE:BE opened at $202.03 on Friday. The company has a current ratio of 3.74, a quick ratio of 3.08 and a debt-to-equity ratio of 1.33. The business has a 50 day moving average of $244.91 and a two-hundred day moving average of $222.04. Bloom Energy Corporation has a 12-month low of $75.70 and a 12-month high of $351.28. The company has a market capitalization of $59.73 billion, a PE ratio of 109.67, a PEG ratio of 2.12 and a beta of 3.63.

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 for 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 for the quarter was up 138.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.15 earnings per share. As a group, 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.