Jim Snabe Sells 20,000 Shares of Bloom Energy (NYSE:BE) Stock

Bloom Energy Corporation (NYSE:BE) Director Jim Snabe sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bloom Energy Stock Down 0.8%

BE stock opened at $135.71 on Friday. Bloom Energy Corporation has a twelve month low of $11.02 and a twelve month high of $147.82. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $31.76 billion, a P/E ratio of 751.17, a PEG ratio of 76.19 and a beta of 3.43. The firm has a 50 day simple moving average of $91.63 and a 200-day simple moving average of $49.75.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. During the same period in the prior year, the company posted ($0.01) earnings per share. The firm’s quarterly revenue was up 57.1% on a year-over-year basis. On average, equities research analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Institutional Trading of Bloom Energy

A number of large investors have recently modified their holdings of BE. Cambridge Investment Research Advisors Inc. boosted its stake in Bloom Energy by 54.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,669 shares of the company’s stock valued at $485,000 after purchasing an additional 8,743 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Bloom Energy by 662.4% during the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company’s stock valued at $1,445,000 after buying an additional 63,875 shares during the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Bloom Energy by 208.9% during the first quarter. Concurrent Investment Advisors LLC now owns 39,925 shares of the company’s stock worth $785,000 after buying an additional 27,001 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Bloom Energy by 43.3% during the first quarter. Envestnet Asset Management Inc. now owns 24,965 shares of the company’s stock worth $491,000 after buying an additional 7,540 shares during the period. Finally, M&T Bank Corp grew its holdings in Bloom Energy by 14.7% in the 1st quarter. M&T Bank Corp now owns 54,922 shares of the company’s stock worth $1,080,000 after buying an additional 7,023 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on BE shares. UBS Group increased their price target on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a research report on Tuesday, October 14th. BMO Capital Markets set a $136.00 target price on Bloom Energy in a report on Wednesday, October 29th. Jefferies Financial Group reiterated an “underperform” rating and issued a $53.00 target price on shares of Bloom Energy in a research report on Friday, October 31st. Susquehanna upped their price target on Bloom Energy to $157.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $95.65.

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.