Aman Joshi Sells 4,543 Shares of Bloom Energy (NYSE:BE) Stock

Bloom Energy Corporation (NYSE:BE) insider Aman Joshi sold 4,543 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the sale, the insider owned 219,818 shares in the company, valued at approximately $23,988,738.34. The trade was a 2.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Bloom Energy Price Performance

Shares of BE traded down $2.26 during mid-day trading on Tuesday, reaching $104.85. The stock had a trading volume of 13,028,846 shares, compared to its average volume of 9,277,600. The business has a fifty day moving average of $99.46 and a 200 day moving average of $54.22. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The firm has a market cap of $24.80 billion, a price-to-earnings ratio of 621.61, a PEG ratio of 63.05 and a beta of 3.43. Bloom Energy Corporation has a 12 month low of $15.15 and a 12 month high of $147.86.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company had revenue of $508.69 million for the quarter, compared to analysts’ expectations of $425.18 million. During the same quarter in the previous year, the company earned ($0.01) EPS. Bloom Energy’s revenue for the quarter was up 57.1% on a year-over-year basis. Equities analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on BE. Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Cowen restated a “hold” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Oppenheimer reiterated a “market perform” rating on shares of Bloom Energy in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a research report on Thursday, October 30th. Finally, TD Cowen raised their target price on shares of Bloom Energy to $105.00 and gave the company a “hold” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus price target of $95.65.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock worth $1,704,000 after purchasing an additional 26,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Bloom Energy by 634.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company’s stock worth $11,763,000 after purchasing an additional 516,833 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Bloom Energy in the 2nd quarter worth about $108,000. Mizuho Markets Americas LLC lifted its holdings in Bloom Energy by 29.9% during the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after buying an additional 90,980 shares in the last quarter. Finally, Comerica Bank boosted its position in Bloom Energy by 5.8% in the 1st quarter. Comerica Bank now owns 88,554 shares of the company’s stock valued at $1,741,000 after buying an additional 4,885 shares during the period. 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.