Insider Selling: Bloom Energy Co. (NYSE:BE) Insider Sells 1,020 Shares of Stock

Bloom Energy Co. (NYSE:BE - Get Free Report) insider Satish Chitoori sold 1,020 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Bloom Energy Stock Down 5.9 %

Bloom Energy stock traded down $1.51 during trading hours on Friday, reaching $23.90. The stock had a trading volume of 7,838,588 shares, compared to its average volume of 6,718,207. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a market cap of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The business's 50 day moving average price is $24.10 and its 200-day moving average price is $19.30.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millburn Ridgefield Corp increased its position in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock worth $25,000 after purchasing an additional 528 shares in the last quarter. Mainstream Capital Management LLC acquired a new position in Bloom Energy during the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC raised its stake in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after buying an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after acquiring an additional 812 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Bloom Energy during the third quarter worth about $34,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BE shares. JPMorgan Chase & Co. lifted their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday, January 23rd. Truist Financial lifted their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, January 16th. Roth Capital upgraded shares of Bloom Energy to a "hold" rating in a research note on Tuesday, December 10th. BTIG Research lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the company a "buy" rating in a research note on Monday, December 16th. Finally, Bank of America dropped their price objective on Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.06.

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.