Bloom Energy Corporation (NYSE:BE) Insider Sells $199,025.07 in Stock

Bloom Energy Corporation (NYSE:BE) insider Maciej Kurzymski sold 8,733 shares of Bloom Energy stock in a transaction on Monday, June 16th. The stock was sold at an average price of $22.79, for a total transaction of $199,025.07. Following the sale, the insider now directly owns 109,860 shares in the company, valued at approximately $2,503,709.40. This trade represents a 7.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Bloom Energy Trading Up 1.1%

Shares of BE stock opened at $21.57 on Friday. Bloom Energy Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The company has a 50 day moving average price of $19.09 and a 200 day moving average price of $21.93. The stock has a market capitalization of $5.01 billion, a P/E ratio of -431.31 and a beta of 3.20. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. The business had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. Equities research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently bought and sold shares of BE. Sender Co & Partners Inc. acquired a new stake in shares of Bloom Energy in the 4th quarter valued at $283,000. Select Equity Group L.P. increased its holdings in Bloom Energy by 125.5% in the fourth quarter. Select Equity Group L.P. now owns 278,515 shares of the company’s stock valued at $6,186,000 after buying an additional 154,993 shares during the last quarter. SIR Capital Management L.P. raised its stake in Bloom Energy by 155.1% in the fourth quarter. SIR Capital Management L.P. now owns 572,798 shares of the company’s stock valued at $12,722,000 after buying an additional 348,279 shares in the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in Bloom Energy during the 4th quarter worth about $4,442,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Bloom Energy during the 4th quarter worth about $19,629,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Wall Street Analyst Weigh In

BE has been the topic of a number of research reports. Morgan Stanley decreased their target price on shares of Bloom Energy from $35.00 to $30.00 and set an “overweight” rating on the stock in a research note on Thursday, May 1st. Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 8th. Piper Sandler lowered their price objective on Bloom Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Monday, May 5th. HSBC raised Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, April 8th. Finally, Redburn Atlantic cut shares of Bloom Energy from a “neutral” rating to a “sell” rating and lowered their price target for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Moderate Buy” and an average target price of $22.97.

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.