Traders Buy Large Volume of Call Options on Bloom Energy (NYSE:BE)

Bloom Energy Corporation (NYSE:BE) was the target of unusually large options trading activity on Thursday. Traders purchased 104,408 call options on the stock. This represents an increase of approximately 52% compared to the average volume of 68,737 call options.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BE. Wells Fargo & Company raised their price objective on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Morgan Stanley increased their target price on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Cowen reaffirmed a “hold” rating on shares of Bloom Energy in a report 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. Finally, BTIG Research increased their price objective on shares of Bloom Energy to $145.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average target price of $93.77.

Bloom Energy Trading Up 15.2%

Shares of BE stock traded up $15.61 during trading hours on Thursday, hitting $118.11. 20,044,696 shares of the company’s stock traded hands, compared to its average volume of 9,659,180. The stock has a market cap of $27.93 billion, a PE ratio of 583.33, a price-to-earnings-growth ratio of 66.32 and a beta of 3.00. The stock’s 50 day simple moving average is $106.17 and its 200 day simple moving average is $60.89. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. Bloom Energy has a 12 month low of $15.15 and a 12 month high of $147.86.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data 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 company had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. Bloom Energy’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, sell-side analysts anticipate that Bloom Energy will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other Bloom Energy news, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the transaction, the insider directly owned 219,818 shares in the company, valued at $23,988,738.34. The trade was a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Maciej Kurzymski sold 13,105 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total value of $1,888,299.45. Following the sale, the insider owned 93,269 shares of the company’s stock, valued at $13,439,130.21. The trade was a 12.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 119,589 shares of company stock valued at $16,439,742 over the last three months. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in shares of Bloom Energy by 43.3% in the first quarter. Envestnet Asset Management Inc. now owns 24,965 shares of the company’s stock worth $491,000 after acquiring an additional 7,540 shares during the period. Cetera Investment Advisers raised its holdings in Bloom Energy by 29.9% during the 1st quarter. Cetera Investment Advisers now owns 30,977 shares of the company’s stock worth $609,000 after purchasing an additional 7,135 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Bloom Energy in the 1st quarter worth approximately $2,055,000. Harbour Investments Inc. lifted its position in shares of Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock worth $31,000 after purchasing an additional 1,512 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Bloom Energy by 11.2% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,611 shares of the company’s stock valued at $248,000 after purchasing an additional 1,273 shares during 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.