Bloom Energy Co. (NYSE:BE) Insider Sells $88,375.18 in Stock

Bloom Energy Co. (NYSE:BE) insider Shawn Marie Soderberg sold 8,963 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the sale, the insider now owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shawn Marie Soderberg also recently made the following trade(s):

• On Monday, March 18th, Shawn Marie Soderberg sold 2,160 shares of Bloom Energy stock. The shares were sold at an average price of $9.31, for a total transaction of $20,109.60.
• On Friday, February 16th, Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80.

Bloom Energy Stock Performance

Shares of BE stock traded down $0.08 on Wednesday, reaching $9.80. The stock had a trading volume of 4,280,647 shares, compared to its average volume of 5,484,385. The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. The firm’s 50-day moving average is $10.38 and its two-hundred day moving average is $11.79. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -6.76 and a beta of 2.79. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.77.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The firm had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. On average, research analysts expect that Bloom Energy Co. will post -0.17 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BE. Bank of America cut shares of Bloom Energy from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $16.00 to $10.00 in a research report on Monday, January 29th. Evercore ISI initiated coverage on shares of Bloom Energy in a research note on Monday, April 1st. They issued an “outperform” rating and a $21.00 target price for the company. BMO Capital Markets reduced their target price on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a research note on Friday, February 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $22.00 target price on shares of Bloom Energy in a research note on Monday, March 25th. Finally, Piper Sandler reduced their target price on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Bloom Energy currently has a consensus rating of “Moderate Buy” and an average price target of $16.69.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG grew its position in shares of Bloom Energy by 6.2% in the third quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock valued at $12,878,000 after purchasing an additional 57,090 shares during the last quarter. FMR LLC grew its position in Bloom Energy by 168.8% during the third quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after buying an additional 2,213,167 shares in the last quarter. Dark Forest Capital Management LP acquired a new stake in Bloom Energy during the third quarter worth approximately $1,567,000. Vanguard Group Inc. grew its position in Bloom Energy by 9.3% during the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company’s stock worth $254,873,000 after buying an additional 1,635,738 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its position in Bloom Energy by 65.2% during the third quarter. Pinnacle Associates Ltd. now owns 582,039 shares of the company’s stock worth $7,718,000 after buying an additional 229,639 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Company Profile

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.