Bloom Energy Corporation $BE Shares Newly Purchased by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board bought a new position in Bloom Energy Corporation (NYSE:BE) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 14,700 shares of the company’s stock, valued at approximately $4,072,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Maryland State Retirement & Pension System boosted its holdings in Bloom Energy by 15.5% in the third quarter. Maryland State Retirement & Pension System now owns 16,886 shares of the company’s stock valued at $4,677,000 after acquiring an additional 2,260 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Bloom Energy by 16.9% in the 3rd quarter. Ritholtz Wealth Management now owns 8,605 shares of the company’s stock worth $2,383,000 after purchasing an additional 1,241 shares in the last quarter. Jacobi Capital Management LLC purchased a new stake in shares of Bloom Energy in the 3rd quarter worth about $94,000. First Command Advisory Services Inc. lifted its position in shares of Bloom Energy by 443.7% in the 3rd quarter. First Command Advisory Services Inc. now owns 995 shares of the company’s stock worth $276,000 after purchasing an additional 812 shares during the period. Finally, Lido Advisors LLC lifted its position in shares of Bloom Energy by 31.0% in the 3rd quarter. Lido Advisors LLC now owns 13,774 shares of the company’s stock worth $3,815,000 after purchasing an additional 3,256 shares during the period. Institutional investors own 77.04% of the company’s stock.

Insider Activity

In other news, insider Satish Chitoori sold 2,870 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $270.06, for a total value of $775,072.20. Following the sale, the insider directly owned 202,494 shares of the company’s stock, valued at $54,685,529.64. The trade was a 1.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Aman Joshi sold 8,437 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $40,769,489.64. This trade represents a 5.42% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 70,859 shares of company stock valued at $17,244,650. 3.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BE shares. Mizuho boosted their price target on shares of Bloom Energy from $242.00 to $351.00 and gave the company an “outperform” rating in a research report on Monday, September 14th. BTIG Research lowered their price objective on shares of Bloom Energy from $295.00 to $250.00 and set a “buy” rating for the company in a report on Friday, October 23rd. KeyCorp reaffirmed a “sector weight” rating on shares of Bloom Energy in a research report on Friday, October 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bloom Energy in a research report on Monday, October 19th. Finally, Barclays raised Bloom Energy from an “equal weight” rating to an “overweight” rating and decreased their target price for the stock from $316.00 to $289.00 in a research report on Tuesday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $263.05.

Top Bloom Energy Stories

These are some of the BE stories that stood out recently:

• Positive Sentiment: Bloom Energy joined a rally in power stocks after CoreWeave’s strong earnings renewed enthusiasm for AI infrastructure and the companies supplying power to data centers. Bloom Energy stock surges as CoreWeave earnings spur rally in power stocks
• Positive Sentiment: Royal Bank of Canada assigned Bloom Energy an “Outperform” rating, adding an analyst endorsement amid investor focus on the company’s AI-power opportunity. Bloom Energy earns Outperform rating from Royal Bank of Canada
• Positive Sentiment: Recent coverage also highlighted Bloom Energy’s AI data-center business and reported revenue growth, reinforcing the potential demand story behind its fuel-cell systems. Bloom Energy lands a major AI data center deal as revenue surges

Bloom Energy Stock Up 13.2%

Shares of Bloom Energy stock opened at $209.93 on Thursday. Bloom Energy Corporation has a 1 year low of $75.70 and a 1 year high of $351.28. The firm has a market cap of $62.07 billion, a price-to-earnings ratio of 128.79, a PEG ratio of 1.87 and a beta of 3.63. The company has a 50-day moving average of $245.20 and a 200 day moving average of $221.73. The company has a debt-to-equity ratio of 1.33, a current ratio of 3.74 and a quick ratio of 3.08.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.69 by $0.25. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.07 billion. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. Bloom Energy’s quarterly revenue was up 138.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. As a group, sell-side analysts anticipate that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

Bloom Energy 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.