Bloom Energy Corporation (NYSE:BE – Get Free Report) insider Satish Chitoori sold 2,837 shares of the business’s stock in a transaction dated Tuesday, June 16th. The stock was sold at an average price of $289.11, for a total value of $820,205.07. Following the transaction, the insider directly owned 207,417 shares of the company’s stock, valued at $59,966,328.87. This represents a 1.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Satish Chitoori also recently made the following trade(s):
- On Thursday, May 14th, Satish Chitoori sold 2,111 shares of Bloom Energy stock. The stock was sold at an average price of $288.24, for a total value of $608,474.64.
- On Tuesday, April 14th, Satish Chitoori sold 20,000 shares of Bloom Energy stock. The stock was sold at an average price of $204.23, for a total value of $4,084,600.00.
Bloom Energy Stock Performance
Shares of NYSE BE traded up $4.21 during trading hours on Wednesday, hitting $285.09. 10,976,519 shares of the company’s stock were exchanged, compared to its average volume of 10,093,469. Bloom Energy Corporation has a 1-year low of $20.93 and a 1-year 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. The stock has a market capitalization of $81.09 billion, a price-to-earnings ratio of -5,700.68 and a beta of 3.73. The company’s 50-day moving average price is $254.92 and its 200-day moving average price is $175.55.
Analysts Set New Price Targets
Several equities analysts recently issued reports on the company. Robert W. Baird boosted their price target on Bloom Energy to $242.00 and gave the company an “outperform” rating in a research note on Wednesday, April 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $335.00 price target on shares of Bloom Energy in a research note on Wednesday, June 10th. Jefferies Financial Group upgraded Bloom Energy from an “underperform” rating to a “hold” rating and set a $187.00 price target on the stock in a research note on Tuesday, April 14th. JPMorgan Chase & Co. upped their price objective on Bloom Energy to $267.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Bloom Energy in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Bloom Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $220.14.
View Our Latest Analysis on Bloom Energy
Institutional Investors Weigh In On Bloom Energy
A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Bloom Energy by 6.3% during the 3rd quarter. Vanguard Group Inc. now owns 20,807,920 shares of the company’s stock worth $1,759,726,000 after acquiring an additional 1,240,819 shares during the last quarter. Geode Capital Management LLC grew its position in Bloom Energy by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 5,277,461 shares of the company’s stock worth $461,272,000 after acquiring an additional 269,662 shares during the last quarter. Graticule Asia Macro Advisors LLC bought a new stake in Bloom Energy during the 3rd quarter worth approximately $402,494,000. Brooklands Fund Management Ltd bought a new stake in Bloom Energy during the 4th quarter worth approximately $347,560,000. Finally, Trivest Advisors Ltd grew its position in Bloom Energy by 1,461.6% during the 3rd quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company’s stock worth $289,229,000 after acquiring an additional 3,201,000 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.
More Bloom Energy News
Here are the key news stories impacting Bloom Energy this week:
- Positive Sentiment: Zacks called Bloom Energy a “Bull of the Day,” citing strong demand for its solid oxide fuel cells as a fast-deployable power solution for AI datacenter buildout. Bull of the Day: Bloom Energy (BE)
- Neutral Sentiment: Bernstein initiated coverage with a “Market Perform” rating and a $276 target, suggesting the stock may be fairly valued after its recent run-up. Has BE Stock Peaked Yet? Here’s What Wall Street And Retail Think
- Negative Sentiment: Four Bloom Energy insiders, including Shawn Marie Soderberg, Satish Chitoori, Maciej Kurzymski and Aman Joshi, sold shares near $289, which can create short-term pressure despite the sales being tied to tax withholding. SEC filing for Shawn Marie Soderberg sale
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.
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