Bloom Energy Corporation (NYSE:BE) Stake Raised by M.E. Allison & CO. Inc.

M.E. Allison & CO. Inc. grew its stake in Bloom Energy Corporation (NYSE:BE - Free Report) by 59.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,030 shares of the company's stock after acquiring an additional 19,000 shares during the quarter. Bloom Energy comprises approximately 1.0% of M.E. Allison & CO. Inc.'s portfolio, making the stock its 26th biggest holding. M.E. Allison & CO. Inc.'s holdings in Bloom Energy were worth $1,003,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Wesbanco Bank Inc. lifted its stake in shares of Bloom Energy by 37.4% during the 1st quarter. Wesbanco Bank Inc. now owns 147,000 shares of the company's stock worth $2,890,000 after purchasing an additional 40,000 shares during the period. Joule Financial LLC boosted its stake in Bloom Energy by 99.7% in the 1st quarter. Joule Financial LLC now owns 31,249 shares of the company's stock worth $614,000 after buying an additional 15,598 shares during the last quarter. Udine Wealth Management Inc. purchased a new stake in Bloom Energy in the 1st quarter valued at about $794,000. MRA Advisory Group acquired a new position in shares of Bloom Energy during the 1st quarter valued at about $374,000. Finally, Chesley Taft & Associates LLC boosted its position in shares of Bloom Energy by 27.7% in the first quarter. Chesley Taft & Associates LLC now owns 12,956 shares of the company's stock worth $255,000 after acquiring an additional 2,807 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BE shares. Piper Sandler cut their price target on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. TD Cowen increased their target price on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a research report on Friday, February 28th. Susquehanna lowered their price target on Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Mizuho upgraded Bloom Energy from a "neutral" rating to an "outperform" rating and cut their price objective for the stock from $28.00 to $26.00 in a report on Monday, May 5th. Finally, Redburn Atlantic cut Bloom Energy from a "neutral" rating to a "sell" rating and decreased their target price for the stock from $14.50 to $10.00 in a report on Wednesday, April 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.97.

Bloom Energy Stock Up 1.1%

NYSE:BE traded up $0.23 during mid-day trading on Thursday, reaching $21.57. The stock had a trading volume of 5,148,687 shares, compared to its average volume of 4,242,435. The stock's 50 day simple moving average is $18.99 and its two-hundred day simple moving average is $21.97. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $29.83. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of -431.31 and a beta of 3.20. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The company had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. During the same quarter last year, the firm earned ($0.17) EPS. The business's revenue was up 38.5% on a year-over-year basis. Equities analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity

In other Bloom Energy news, insider Maciej Kurzymski sold 8,733 shares of the business's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $22.79, for a total transaction of $199,025.07. Following the completion of the transaction, the insider now directly owns 109,860 shares of the company's stock, valued at $2,503,709.40. The trade was a 7.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 2,780 shares of Bloom Energy stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $54,821.60. Following the sale, the insider now directly owns 152,890 shares in the company, valued at approximately $3,014,990.80. This trade represents a 1.79% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 62,501 shares of company stock valued at $1,236,191. Company insiders own 3.60% of the company's stock.

Bloom Energy Profile

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.