Bloom Energy Target of Unusually Large Options Trading (NYSE:BE)

Bloom Energy Co. (NYSE:BE) was the target of some unusual options trading on Wednesday. Investors bought 20,135 call options on the stock. This is an increase of approximately 227% compared to the average volume of 6,153 call options.

Bloom Energy Trading Down 7.6 %

NYSE BE opened at $15.71 on Friday. The firm has a market cap of $3.53 billion, a P/E ratio of -11.64 and a beta of 2.77. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97. The stock’s 50-day moving average is $11.14 and its 200-day moving average is $11.82. Bloom Energy has a one year low of $8.41 and a one year high of $18.76.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The firm had revenue of $235.30 million during the quarter, compared to analyst estimates of $254.06 million. Sell-side analysts anticipate that Bloom Energy will post -0.26 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In related news, Director Eddy Zervigon sold 28,150 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now owns 111,161 shares of the company’s stock, valued at approximately $1,429,530.46. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eddy Zervigon sold 28,150 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now owns 111,161 shares in the company, valued at approximately $1,429,530.46. The disclosure for this sale can be found here. Insiders have sold a total of 131,291 shares of company stock valued at $1,457,413 in the last 90 days. 8.81% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Bloom Energy by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after buying an additional 156,434 shares during the last quarter. Norges Bank bought a new position in Bloom Energy in the fourth quarter valued at approximately $82,678,000. Coatue Management LLC grew its stake in Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after purchasing an additional 978,053 shares in the last quarter. FMR LLC grew its stake in Bloom Energy by 168.8% in the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock valued at $46,733,000 after purchasing an additional 2,213,167 shares in the last quarter. Finally, Northern Trust Corp grew its stake in Bloom Energy by 3.8% in the third quarter. Northern Trust Corp now owns 1,920,938 shares of the company’s stock valued at $25,472,000 after purchasing an additional 70,248 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BE. KeyCorp cut Bloom Energy from an “overweight” rating to a “sector weight” rating in a report on Friday, February 16th. Bank of America cut Bloom Energy from a “neutral” rating to an “underperform” rating and decreased their price target for the company from $16.00 to $10.00 in a report on Monday, January 29th. Piper Sandler decreased their price target on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $14.00 price target on shares of Bloom Energy in a report on Tuesday. Finally, BTIG Research initiated coverage on Bloom Energy in a report on Thursday, January 25th. They issued a “buy” rating and a $21.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $15.64.

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.