Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar Sells 72,903 Shares

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the transaction, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Kr Sridhar also recently made the following trade(s):

• On Friday, November 22nd, Kr Sridhar sold 46,697 shares of Bloom Energy stock. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00.

Bloom Energy Stock Performance

Shares of BE opened at $25.77 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The firm has a 50-day moving average price of $11.91 and a 200 day moving average price of $12.61. Bloom Energy Co. has a 52-week low of $8.41 and a 52-week high of $26.26.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BE. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Truist Financial cut their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. BTIG Research raised their price target on shares of Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a report on Wednesday. Finally, Jefferies Financial Group raised their price objective on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy has an average rating of “Hold” and an average price target of $18.66.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Millburn Ridgefield Corp grew its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares during the period. ORG Partners LLC acquired a new position in shares of Bloom Energy in the 2nd quarter worth approximately $40,000. Quest Partners LLC raised its holdings in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in Bloom Energy during the second quarter worth approximately $53,000. Finally, Mather Group LLC. acquired a new position in Bloom Energy in the second quarter worth approximately $66,000. 77.04% of the stock is currently owned by institutional investors.

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.