Insider Selling: Bloom Energy Co. (NYSE:BE) CEO Sells 177,786 Shares of Stock

Bloom Energy Co. (NYSE:BE – Get Rating) CEO Kr Sridhar sold 177,786 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $18.06, for a total transaction of $3,210,815.16. Following the completion of the transaction, the chief executive officer now owns 662,872 shares of the company’s stock, valued at $11,971,468.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Kr Sridhar also recently made the following trade(s):

• On Wednesday, February 22nd, Kr Sridhar sold 63,777 shares of Bloom Energy stock. The shares were sold at an average price of $22.26, for a total transaction of $1,419,676.02.
• On Thursday, February 16th, Kr Sridhar sold 7,487 shares of Bloom Energy stock. The stock was sold at an average price of $23.61, for a total transaction of $176,768.07.

Bloom Energy Trading Down 4.8 %

BE stock opened at $17.15 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.95 and a quick ratio of 1.45. The company has a market capitalization of $3.53 billion, a price-to-earnings ratio of -10.39 and a beta of 2.89. Bloom Energy Co. has a 1-year low of $11.47 and a 1-year high of $31.47. The business has a 50 day simple moving average of $22.85 and a two-hundred day simple moving average of $21.44.

Bloom Energy (NYSE:BE – Get Rating) last announced its quarterly earnings results on Thursday, February 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $462.60 million for the quarter, compared to analysts’ expectations of $398.36 million. Bloom Energy had a negative net margin of 25.14% and a negative return on equity of 194.49%. The business’s quarterly revenue was up 35.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.16) EPS. Research analysts anticipate that Bloom Energy Co. will post -0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on BE. UBS Group assumed coverage on shares of Bloom Energy in a research report on Tuesday, December 13th. They issued a “buy” rating and a $35.00 price objective for the company. TheStreet upgraded shares of Bloom Energy from a “d” rating to a “c-” rating in a research report on Thursday, February 9th. Morgan Stanley upgraded shares of Bloom Energy from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $37.00 to $35.00 in a research report on Tuesday, January 10th. JPMorgan Chase & Co. lowered shares of Bloom Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $29.00 to $27.00 in a research report on Friday, February 10th. Finally, Truist Financial lifted their target price on shares of Bloom Energy from $20.00 to $26.00 and gave the company a “hold” rating in a research report on Tuesday, February 7th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.40.

Institutional Trading of Bloom Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Private Trust Co. NA acquired a new position in Bloom Energy during the fourth quarter worth $57,000. Quent Capital LLC acquired a new stake in Bloom Energy during the 4th quarter worth $57,000. Counterpoint Mutual Funds LLC acquired a new position in shares of Bloom Energy in the third quarter valued at approximately $89,000. Sandia Investment Management LP acquired a new position in Bloom Energy during the third quarter worth $100,000. Finally, Quantbot Technologies LP boosted its position in Bloom Energy by 27.8% during the first quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock worth $112,000 after purchasing an additional 1,017 shares in the last quarter. 79.55% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

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Bloom Energy Corp. engages in the manufacture and installation of a solid oxide fuel-cell based power generation platform. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K.