Insider Selling: Bloom Energy Co. (NYSE:BE) Insider Sells 1,496 Shares of Stock

Bloom Energy Co. (NYSE:BE) insider Shawn Marie Soderberg sold 1,496 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $19.89, for a total value of $29,755.44. Following the completion of the sale, the insider now directly owns 229,682 shares of the company’s stock, valued at approximately $4,568,374.98. This represents a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shawn Marie Soderberg also recently made the following trade(s):

• On Wednesday, May 14th, Shawn Marie Soderberg sold 2,780 shares of Bloom Energy stock. The shares were sold at an average price of $19.72, for a total value of $54,821.60.

Bloom Energy Trading Up 1.6%

BE opened at $20.14 on Friday. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The business has a fifty day simple moving average of $19.45 and a 200-day simple moving average of $21.70. The firm 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.

Bloom Energy (NYSE:BE) last released its quarterly 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 negative return on equity of 20.32% and a negative net margin of 10.29%. The business had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. During the same period last year, the business posted ($0.17) earnings per share. The company’s quarterly revenue was up 38.5% on a year-over-year basis. On average, equities analysts expect that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BE shares. Robert W. Baird cut their price target on Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. Truist Financial lowered their price objective on Bloom Energy from $22.00 to $19.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Redburn Atlantic lowered Bloom Energy from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $14.50 to $10.00 in a research report on Wednesday, April 9th. Finally, Piper Sandler lowered their price objective on Bloom Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.47.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Bloom Energy by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock worth $427,194,000 after buying an additional 356,317 shares during the period. Norges Bank purchased a new position in shares of Bloom Energy during the fourth quarter worth $93,951,000. Public Investment Fund boosted its holdings in Bloom Energy by 16.8% in the first quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock valued at $74,782,000 after purchasing an additional 546,372 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Bloom Energy by 29.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock valued at $71,010,000 after purchasing an additional 821,814 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock valued at $49,127,000 after purchasing an additional 836,810 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.