Bloom Energy (NYSE:BE) Trading Down 2.1% After Insider Selling

Bloom Energy Corporation (NYSE:BE)’s stock price was down 2.1% on Tuesday following insider selling activity. The stock traded as low as $103.00 and last traded at $104.8520. Approximately 13,016,714 shares traded hands during trading, an increase of 40% from the average daily volume of 9,277,092 shares. The stock had previously closed at $107.11.

Specifically, insider Satish Chitoori sold 2,085 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $104.08, for a total value of $217,006.80. Following the sale, the insider directly owned 229,880 shares in the company, valued at $23,925,910.40. This trade represents a 0.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Aman Joshi sold 4,543 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. In related news, insider Shawn Marie Soderberg sold 1,583 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $105.97, for a total transaction of $167,750.51. Following the completion of the sale, the insider owned 221,633 shares in the company, valued at $23,486,449.01. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Analyst Ratings Changes

A number of analysts have weighed in on BE shares. Robert W. Baird set a $157.00 price objective on shares of Bloom Energy in a report on Wednesday, October 29th. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research note on Wednesday, October 29th. Zacks Research downgraded shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Hsbc Global Res upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Finally, Morgan Stanley upped their target price on Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $95.65.

Bloom Energy Stock Down 2.1%

The business has a 50-day simple moving average of $99.46 and a two-hundred day simple moving average of $54.22. The company has a market capitalization of $24.80 billion, a price-to-earnings ratio of 621.61, a PEG ratio of 63.05 and a beta of 3.43. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40.

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

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in Bloom Energy by 3.3% in the 3rd quarter. CWM LLC now owns 5,111 shares of the company’s stock valued at $432,000 after purchasing an additional 162 shares in the last quarter. Seelaus Asset Management LLC grew its stake in shares of Bloom Energy by 2.4% during the 3rd quarter. Seelaus Asset Management LLC now owns 11,420 shares of the company’s stock worth $966,000 after purchasing an additional 270 shares during the period. Parkside Financial Bank & Trust boosted its holdings in Bloom Energy by 250.9% during the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after buying an additional 281 shares in the last quarter. Rothschild Investment LLC lifted its position in shares of Bloom Energy by 74.4% during the 3rd quarter. Rothschild Investment LLC now owns 680 shares of the company’s stock valued at $58,000 after acquiring an additional 290 shares during the period. Finally, Prospera Financial Services Inc boosted its stake in shares of Bloom Energy by 0.3% during the 2nd quarter. Prospera Financial Services Inc now owns 95,532 shares of the company’s stock worth $2,285,000 after acquiring an additional 313 shares in the last quarter. Institutional investors and hedge funds 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.