Allstate Corp Purchases New Position in Bloom Energy Corporation $BE

Key Points

• Allstate Corp disclosed a new fourth-quarter stake in Bloom Energy, buying 16,599 shares worth about $1.44 million.
• Bloom Energy has attracted substantial analyst optimism, including upgrades and price targets as high as $335, with a consensus rating of Moderate Buy and an average target of $217.48.
• The company posted strong quarterly results, with EPS of $0.44 versus $0.12 expected and revenue of $751.05 million, up 130.4% year over year, though the stock recently slipped on profit-taking after a sharp run-up.

Allstate Corp purchased a new stake in Bloom Energy Corporation (NYSE:BE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,599 shares of the company's stock, valued at approximately $1,442,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. WPG Advisers LLC raised its holdings in shares of Bloom Energy by 26.4% in the fourth quarter. WPG Advisers LLC now owns 321 shares of the company's stock valued at $28,000 after buying an additional 67 shares during the last quarter. Orion Capital Management LLC raised its holdings in shares of Bloom Energy by 0.7% in the fourth quarter. Orion Capital Management LLC now owns 12,083 shares of the company's stock valued at $1,050,000 after buying an additional 83 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Bloom Energy by 1.5% in the fourth quarter. Ritholtz Wealth Management now owns 5,765 shares of the company's stock valued at $501,000 after buying an additional 87 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of Bloom Energy by 7.3% in the fourth quarter. CoreCap Advisors LLC now owns 1,295 shares of the company's stock valued at $113,000 after buying an additional 88 shares during the last quarter. Finally, Reliant Investment Management LLC raised its holdings in shares of Bloom Energy by 3.6% in the fourth quarter. Reliant Investment Management LLC now owns 2,556 shares of the company's stock valued at $222,000 after buying an additional 90 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Key Headlines Impacting Bloom Energy

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom Energy continues to get bullish attention from analysts and media, including a recent Daiwa upgrade to Outperform with a $324 price target, citing an inflection in orders, capacity, and margins. Here’s Why Bloom Energy (BE) Is Among the Best Future Stocks to Buy Right Now
• Positive Sentiment: Recent commentary also highlights Bloom Energy’s strong growth outlook, with articles pointing to rising interest in its fuel-cell technology and improving earnings potential. Bloom Energy: Spare Capacity May Lead To Surging EPS Growth
• Neutral Sentiment: Several comparison pieces versus FuelCell Energy kept Bloom in the spotlight, with analysts favoring BE’s estimate upgrades and return on invested capital over FCEL’s lower leverage. Bloom Energy vs. FuelCell Energy: Which Clean Energy Stock Leads?
• Negative Sentiment: The main driver of weakness appears to be profit-taking after a steep recent move, as traders unwind positions tied to the AI data-center power-demand theme. Bloom Energy Stock Is Sliding: What's Driving The Move?
• Negative Sentiment: Another note from Thursday said BE was already slipping as investors reassessed how much upside was left after the recent surge. What's Going On With Bloom Energy Stock Today?

Bloom Energy Stock Down 1.9%

BE stock opened at $284.48 on Friday. The company's 50 day simple moving average is $220.81 and its 200-day simple moving average is $160.23. The firm has a market capitalization of $80.92 billion, a PE ratio of -5,688.50 and a beta of 3.82. Bloom Energy Corporation has a 12 month low of $18.12 and a 12 month high of $322.83. The company has a debt-to-equity ratio of 2.90, a current ratio of 5.03 and a quick ratio of 4.10.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.12 by $0.32. The business had revenue of $751.05 million for the quarter, compared to analyst estimates of $539.94 million. Bloom Energy had a net margin of 0.25% and a return on equity of 21.05%. The company's quarterly revenue was up 130.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.03 earnings per share. Bloom Energy has set its FY 2026 guidance at 1.850-2.250 EPS. Equities analysts expect that Bloom Energy Corporation will post 1.31 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mary K. Bush sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $266.96, for a total transaction of $6,674,000.00. Following the transaction, the director owned 108,524 shares of the company's stock, valued at approximately $28,971,567.04. This represents a 18.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Aman Joshi sold 19,944 shares of the stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $154.85, for a total transaction of $3,088,328.40. Following the transaction, the insider directly owned 190,521 shares in the company, valued at approximately $29,502,176.85. This represents a 9.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 268,777 shares of company stock worth $55,112,564. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada upped their target price on shares of Bloom Energy to $335.00 and gave the company an "outperform" rating in a report on Wednesday, April 29th. BMO Capital Markets upped their target price on shares of Bloom Energy to $149.00 and gave the company a "market perform" rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Bloom Energy in a report on Friday, April 24th. Susquehanna upped their target price on shares of Bloom Energy to $293.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Finally, Morgan Stanley reiterated an "overweight" rating and set a $310.00 price target on shares of Bloom Energy in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Bloom Energy has an average rating of "Moderate Buy" and a consensus price target of $217.48.

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.

Want to see what other hedge funds are holding BE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bloom Energy Corporation (NYSE:BE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.