Shawn Marie Soderberg Sells 2,780 Shares of Bloom Energy Co. (NYSE:BE) Stock

Bloom Energy Co. (NYSE:BE) insider Shawn Marie Soderberg sold 2,780 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $54,821.60. Following the completion of the sale, the insider now directly owns 152,890 shares in the company, valued at approximately $3,014,990.80. This represents a 1.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Bloom Energy Trading Down 2.2%

BE opened at $19.81 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The firm has a market capitalization of $4.60 billion, a PE ratio of -35.37 and a beta of 3.25. The company’s 50-day moving average is $19.55 and its 200 day moving average is $21.55.

Bloom Energy (NYSE:BE) last posted its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The company had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same quarter in the prior year, the business posted ($0.17) EPS. The firm’s revenue was up 38.5% compared to the same quarter last year. As a group, research analysts predict that Bloom Energy Co. will post -0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Jefferies Financial Group cut their price target on shares of Bloom Energy from $25.00 to $19.00 and set a “hold” rating on the stock in a research report on Wednesday, April 16th. Piper Sandler cut their price target on shares of Bloom Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Susquehanna cut their price target on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a research report on Monday, April 14th. Robert W. Baird dropped their price objective on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, TD Cowen upped their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy has an average rating of “Moderate Buy” and an average price target of $22.47.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after buying an additional 356,317 shares during the last quarter. Norges Bank purchased a new stake in Bloom Energy in the 4th quarter valued at about $93,951,000. Public Investment Fund increased its stake in Bloom Energy by 16.8% in the 1st quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock valued at $74,782,000 after buying an additional 546,372 shares during the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Bloom Energy by 29.5% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock valued at $71,010,000 after buying an additional 821,814 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Bloom Energy by 7.3% in the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock valued at $47,381,000 after buying an additional 144,616 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.