Bloom Energy Co. (NYSE:BE) CEO Sells $811,210.62 in Stock

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 42,383 shares of the business’s stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the sale, the chief executive officer now directly owns 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Bloom Energy Stock Performance

Shares of BE stock opened at $19.81 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a 50 day moving average price of $19.55 and a 200-day moving average price of $21.55. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The firm has a market capitalization of $4.60 billion, a PE ratio of -35.37 and a beta of 3.25.

Bloom Energy (NYSE:BE) last posted its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. The business had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The firm’s revenue was up 38.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) EPS. As a group, equities research analysts expect that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Institutional Trading of Bloom Energy

Several large investors have recently modified their holdings of BE. Norges Bank purchased a new position in Bloom Energy in the fourth quarter worth about $93,951,000. Fuller & Thaler Asset Management Inc. bought a new position in shares of Bloom Energy in the 4th quarter worth approximately $61,968,000. Elemental Capital Partners LLC purchased a new position in shares of Bloom Energy in the fourth quarter worth approximately $33,612,000. Trivest Advisors Ltd bought a new stake in Bloom Energy during the fourth quarter valued at approximately $30,539,000. Finally, Tree Line Advisors Hong Kong Ltd. purchased a new stake in Bloom Energy during the first quarter valued at approximately $22,609,000. Institutional investors own 77.04% of the company’s stock.

Analysts Set New Price Targets

BE has been the topic of a number of analyst reports. Mizuho raised Bloom Energy from a “neutral” rating to an “outperform” rating and dropped their price target for the stock from $28.00 to $26.00 in a research report on Monday, May 5th. Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Jefferies Financial Group cut their target price on Bloom Energy from $25.00 to $19.00 and set a “hold” rating on the stock in a research note on Wednesday, April 16th. Bank of America reduced their price target on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Finally, Royal Bank of Canada set a $26.00 price target on Bloom Energy in a research report on Monday, April 14th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.47.

About Bloom Energy

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.