Bloom Energy Co. (NYSE:BE) Insider Sells $40,209.74 in Stock

Bloom Energy Co. (NYSE:BE) insider Satish Chitoori sold 2,038 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total value of $40,209.74. Following the completion of the sale, the insider now directly owns 176,618 shares of the company’s stock, valued at approximately $3,484,673.14. This trade represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Satish Chitoori also recently made the following trade(s):

• On Monday, March 17th, Satish Chitoori sold 1,020 shares of Bloom Energy stock. The shares were sold at an average price of $25.09, for a total value of $25,591.80.

Bloom Energy Trading Up 1.6%

Shares of Bloom Energy stock opened at $20.14 on Friday. Bloom Energy Co. has a 12-month low of $9.02 and a 12-month high of $29.83. The stock has a market cap of $4.68 billion, a P/E ratio of -35.96 and a beta of 3.25. 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 business’s 50 day moving average is $19.45 and its 200-day moving average is $21.70.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The company had revenue of $326.02 million for the quarter, compared to analysts’ expectations of $294.27 million. During the same quarter in the prior year, the business posted ($0.17) EPS. The business’s revenue was up 38.5% compared to the same quarter last year. Equities research analysts predict that Bloom Energy Co. will post -0.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mainstream Capital Management LLC bought a new stake in Bloom Energy in the 4th quarter valued at $28,000. Smartleaf Asset Management LLC raised its stake in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the period. Banque Transatlantique SA raised its stake in Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after acquiring an additional 1,161 shares during the period. Harbour Investments Inc. raised its stake in Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after acquiring an additional 1,512 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares during the period. Institutional investors own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BE. Truist Financial lowered their price target on Bloom Energy from $22.00 to $19.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Mizuho upgraded Bloom Energy from a “neutral” rating to an “outperform” rating and decreased their price objective for the company from $28.00 to $26.00 in a research report on Monday, May 5th. BMO Capital Markets reiterated a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. Redburn Atlantic lowered Bloom Energy from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Finally, HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.47.

Bloom Energy Company 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.