Kr Sridhar Sells 42,383 Shares of Bloom Energy Co. (NYSE:BE) Stock

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 42,383 shares of the firm’s stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the transaction, the chief executive officer now owns 2,724,613 shares of the company’s stock, valued at $52,149,092.82. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Bloom Energy Stock Up 1.6%

Shares of Bloom Energy stock opened at $20.14 on Friday. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The business has a fifty day simple moving average of $19.45 and a 200 day simple moving average of $21.62. The stock has a market cap of $4.68 billion, a PE ratio of -35.96 and a beta of 3.25.

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research report on Tuesday, April 8th. TD Cowen lifted their price objective on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, February 28th. Piper Sandler cut their price objective on Bloom Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Finally, Susquehanna cut their price objective on Bloom Energy from $33.00 to $26.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Bloom Energy presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.47.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently made changes to their positions in the stock. CWM LLC lifted its holdings in shares of Bloom Energy by 23.7% in the first quarter. CWM LLC now owns 3,360 shares of the company’s stock valued at $66,000 after purchasing an additional 644 shares in the last quarter. Arizona State Retirement System lifted its holdings in shares of Bloom Energy by 1.3% in the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock valued at $1,324,000 after purchasing an additional 759 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after purchasing an additional 812 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of Bloom Energy by 6.4% in the first quarter. Xponance Inc. now owns 15,484 shares of the company’s stock valued at $304,000 after purchasing an additional 935 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

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.