Bloom Energy Co. (NYSE:BE) Insider Satish Chitoori Sells 2,038 Shares

Bloom Energy Co. (NYSE:BE) insider Satish Chitoori sold 2,038 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $19.73, for a total value of $40,209.74. Following the transaction, the insider now owns 176,618 shares in the company, valued at $3,484,673.14. The trade was a 1.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Satish Chitoori also recently made the following trade(s):

• On Monday, March 17th, Satish Chitoori sold 1,020 shares of Bloom Energy stock. The shares were sold at an average price of $25.09, for a total value of $25,591.80.

Bloom Energy Stock Performance

Shares of BE stock opened at $20.14 on Friday. The business’s 50-day moving average price is $19.45 and its 200-day moving average price is $21.70. Bloom Energy Co. has a 12 month low of $9.02 and a 12 month high of $29.83. The firm has a market capitalization of $4.68 billion, a price-to-earnings ratio of -35.96 and a beta of 3.25. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating 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 firm had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same period last year, the firm posted ($0.17) earnings per share. The business’s revenue for the quarter was up 38.5% on a year-over-year basis. Equities research analysts forecast that Bloom Energy Co. will post -0.23 EPS for the current year.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently made changes to their positions in the stock. Smartleaf Asset Management LLC raised its position in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares during the last quarter. Mainstream Capital Management LLC bought a new position in shares of Bloom Energy during the fourth quarter worth about $28,000. Jones Financial Companies Lllp raised its position in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after acquiring an additional 812 shares during the last quarter. Quarry LP bought a new position in shares of Bloom Energy during the fourth quarter worth about $35,000. Finally, Harbour Investments Inc. raised its position in shares of Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock worth $31,000 after acquiring an additional 1,512 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Susquehanna cut their price target on Bloom Energy from $33.00 to $26.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 8th. Jefferies Financial Group reduced their target price on Bloom Energy from $25.00 to $19.00 and set a “hold” rating on the stock in a report on Wednesday, April 16th. Bank of America reduced their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Finally, TD Cowen increased their target price on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, February 28th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy presently has an average rating of “Moderate Buy” and an average target price of $22.47.

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.