Insider Selling: Bloom Energy Co. (NYSE:BE) Insider Sells $88,375.18 in Stock

Bloom Energy Co. (NYSE:BE) insider Shawn Marie Soderberg sold 8,963 shares of the business’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total value of $88,375.18. Following the transaction, the insider now directly owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, March 18th, Shawn Marie Soderberg sold 2,160 shares of Bloom Energy stock. The stock was sold at an average price of $9.31, for a total value of $20,109.60.
• On Friday, February 16th, Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock. The stock was sold at an average price of $9.34, for a total value of $122,540.80.

Bloom Energy Trading Down 1.1 %

Shares of BE stock opened at $9.64 on Friday. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -6.65 and a beta of 2.79. The stock has a 50-day moving average of $10.29 and a 200-day moving average of $11.74. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $18.76.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The company had revenue of $356.92 million during the quarter, compared to analysts’ expectations of $481.90 million. On average, equities research analysts forecast that Bloom Energy Co. will post -0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BE. Piper Sandler lowered their target price on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a report on Friday, February 16th. BMO Capital Markets lowered their target price on Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, February 16th. Raymond James lowered their target price on Bloom Energy from $20.00 to $16.00 and set an “outperform” rating for the company in a report on Friday, February 16th. Susquehanna lowered their target price on Bloom Energy from $18.00 to $16.00 and set a “positive” rating for the company in a report on Wednesday, March 27th. Finally, Bank of America cut Bloom Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $16.00 to $10.00 in a report on Monday, January 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $16.69.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position in shares of Bloom Energy by 1.3% during the 1st quarter. BlackRock Inc. now owns 21,141,205 shares of the company’s stock valued at $421,344,000 after purchasing an additional 263,507 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Bloom Energy by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock worth $289,026,000 after acquiring an additional 307,627 shares in the last quarter. Norges Bank bought a new position in Bloom Energy in the fourth quarter worth approximately $82,678,000. State Street Corp boosted its holdings in Bloom Energy by 2.8% in the first quarter. State Street Corp now owns 4,586,967 shares of the company’s stock worth $91,417,000 after acquiring an additional 125,720 shares in the last quarter. Finally, Coatue Management LLC boosted its holdings in Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock worth $65,666,000 after acquiring an additional 978,053 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

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.