Insider Selling: Bloom Energy Co. (NYSE:BE) Insider Sells 1,020 Shares of Stock

Bloom Energy Co. (NYSE:BE) insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Bloom Energy Trading Down 1.3 %

Shares of Bloom Energy stock traded down $0.31 on Tuesday, reaching $23.88. 5,423,474 shares of the company were exchanged, compared to its average volume of 6,647,343. The stock has a fifty day moving average price of $24.08 and a 200-day moving average price of $19.14. The firm has a market capitalization of $5.50 billion, a price-to-earnings ratio of -42.64 and a beta of 3.30. 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 Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently modified their holdings of BE. SPX Gestao de Recursos Ltda purchased a new position in Bloom Energy in the fourth quarter valued at about $4,442,000. Duff & Phelps Investment Management Co. purchased a new position in Bloom Energy in the third quarter valued at about $517,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Bloom Energy by 184.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company’s stock valued at $9,209,000 after purchasing an additional 262,247 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Bloom Energy in the third quarter valued at about $3,274,000. Finally, Bailard Inc. purchased a new position in Bloom Energy in the fourth quarter valued at about $1,278,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Roth Capital upgraded Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. BTIG Research boosted their price target on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Finally, Royal Bank of Canada boosted their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, November 18th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $24.67.

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.