Shawn Marie Soderberg Sells 2,086 Shares of Bloom Energy Co. (NYSE:BE) Stock

Bloom Energy Co. (NYSE:BE - Get Free Report) insider Shawn Marie Soderberg sold 2,086 shares of the firm's stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $10.50, for a total value of $21,903.00. Following the completion of the sale, the insider now owns 169,850 shares of the company's stock, valued at approximately $1,783,425. This represents a 0.00 % 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.

Bloom Energy Price Performance

Shares of BE traded down $0.25 during trading hours on Thursday, hitting $10.16. 3,851,702 shares of the stock were exchanged, compared to its average volume of 5,805,584. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $18.14. The company has a market cap of $2.31 billion, a price-to-earnings ratio of -7.51 and a beta of 2.69. The stock's 50-day moving average price is $10.87 and its two-hundred day moving average price is $12.18.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The company had revenue of $335.80 million during the quarter, compared to analysts' expectations of $307.73 million. During the same period in the prior year, the business earned ($0.32) EPS. The firm's quarterly revenue was up 11.5% on a year-over-year basis. Research analysts expect that Bloom Energy Co. will post -0.25 earnings per share for the current year.

Hedge Funds Weigh In On Bloom Energy

Several large investors have recently modified their holdings of the business. Gruss & Co. LLC acquired a new position in shares of Bloom Energy in the 3rd quarter valued at $158,000. Wesbanco Bank Inc. lifted its stake in Bloom Energy by 66.1% during the 3rd quarter. Wesbanco Bank Inc. now owns 103,000 shares of the company's stock worth $1,088,000 after acquiring an additional 41,000 shares in the last quarter. Artemis Investment Management LLP lifted its stake in Bloom Energy by 20.5% during the 3rd quarter. Artemis Investment Management LLP now owns 738,673 shares of the company's stock worth $7,800,000 after acquiring an additional 125,757 shares in the last quarter. B. Riley Wealth Advisors Inc. purchased a new stake in Bloom Energy during the 2nd quarter worth about $215,000. Finally, Creative Planning increased its holdings in Bloom Energy by 31.5% during the 2nd quarter. Creative Planning now owns 34,394 shares of the company's stock worth $421,000 after purchasing an additional 8,244 shares during the period. Institutional investors and hedge funds own 77.04% of the company's stock.

Wall Street Analyst Weigh In

BE has been the subject of several research analyst reports. UBS Group decreased their target price on Bloom Energy from $25.00 to $23.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Piper Sandler raised their price target on Bloom Energy from $10.00 to $11.00 and gave the company a "neutral" rating in a research note on Monday, July 22nd. Truist Financial cut their price target on Bloom Energy from $13.00 to $12.00 and set a "hold" rating on the stock in a research note on Wednesday. Bank of America raised their price target on Bloom Energy from $8.00 to $9.00 and gave the company an "underperform" rating in a research note on Wednesday, July 17th. Finally, JPMorgan Chase & Co. raised their price target on Bloom Energy from $12.00 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $15.68.

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.

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