Bloom Energy Sees Unusually High Options Volume (NYSE:BE)

Bloom Energy Corp (NYSE:BE) was the target of unusually large options trading activity on Tuesday. Traders acquired 13,425 call options on the company. This is an increase of 400% compared to the typical daily volume of 2,685 call options.

In other Bloom Energy news, COO Susan Seilheimer Brennan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.25, for a total value of $82,500.00. Following the transaction, the chief operating officer now directly owns 120,854 shares in the company, valued at approximately $997,045.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Christopher White sold 22,755 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $9.25, for a total transaction of $210,483.75. Following the transaction, the executive vice president now owns 307,245 shares in the company, valued at $2,842,016.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,755 shares of company stock worth $309,104. Corporate insiders own 26.82% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Mine & Arao Wealth Creation & Management LLC. bought a new position in shares of Bloom Energy during the fourth quarter worth about $26,000. Great West Life Assurance Co. Can bought a new position in Bloom Energy in the fourth quarter valued at approximately $27,000. Gradient Investments LLC bought a new position in Bloom Energy in the first quarter valued at approximately $28,000. Verus Capital Partners LLC acquired a new stake in shares of Bloom Energy in the fourth quarter valued at approximately $51,000. Finally, Rockefeller Capital Management L.P. lifted its position in shares of Bloom Energy by 454.8% in the first quarter. Rockefeller Capital Management L.P. now owns 10,003 shares of the company’s stock valued at $52,000 after buying an additional 8,200 shares during the last quarter. 40.19% of the stock is currently owned by hedge funds and other institutional investors.

Shares of BE stock opened at $10.88 on Wednesday. Bloom Energy has a 12 month low of $2.44 and a 12 month high of $14.51. The firm has a market cap of $973.78 million, a PE ratio of -5.36 and a beta of 3.19. The stock has a 50 day moving average of $8.42 and a 200-day moving average of $7.98.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Monday, May 11th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.31. The firm had revenue of $156.70 million for the quarter, compared to analysts’ expectations of $152.45 million. Bloom Energy had a negative return on equity of 1,384.87% and a negative net margin of 28.37%. The business’s revenue was down 22.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.22) earnings per share. On average, equities analysts expect that Bloom Energy will post -1.93 EPS for the current fiscal year.

BE has been the topic of several research reports. ValuEngine lowered shares of Bloom Energy from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 23rd. Zacks Investment Research raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating and set a $9.50 price target for the company in a research report on Tuesday, May 19th. JPMorgan Chase & Co. lifted their price objective on shares of Bloom Energy from $14.00 to $17.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Finally, Morgan Stanley raised their target price on Bloom Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Wednesday, June 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $10.79.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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