Bloom Energy Co. (NYSE:BE) Insider Shawn Marie Soderberg Sells 2,086 Shares of Stock

Bloom Energy Co. (NYSE:BE) insider Shawn Marie Soderberg sold 2,086 shares of the stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $10.50, for a total value of $21,903.00. Following the transaction, the insider now directly owns 169,850 shares of the company’s stock, valued at approximately $1,783,425. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Bloom Energy Stock Down 2.4 %

Bloom Energy stock opened at $10.16 on Friday. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $18.14. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. The firm has a market cap of $2.31 billion, a PE ratio of -7.52 and a beta of 2.69. The firm’s 50 day moving average price is $10.86 and its two-hundred day moving average price is $12.17.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The business had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. Bloom Energy’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.32) earnings per share. On average, research analysts predict that Bloom Energy Co. will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Electron Capital Partners LLC increased its holdings in Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after buying an additional 1,790,733 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Bloom Energy during the 2nd quarter valued at $7,502,000. DigitalBridge Group Inc. lifted its stake in shares of Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after purchasing an additional 462,581 shares during the last quarter. Pier Capital LLC bought a new stake in Bloom Energy in the second quarter worth $5,602,000. Finally, DekaBank Deutsche Girozentrale increased its position in Bloom Energy by 762.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock worth $5,712,000 after buying an additional 446,074 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 target price on shares of Bloom Energy in a research note on Thursday, June 20th. Piper Sandler raised their price objective on shares of Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Truist Financial lowered their price objective on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday. Susquehanna cut their target price on shares of Bloom Energy from $16.00 to $13.00 and set a “positive” rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group cut Bloom Energy from a “buy” rating to a “hold” rating and dropped their price target for the company from $15.00 to $11.00 in a report on Friday, September 6th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Bloom Energy has a consensus rating of “Hold” and an average target price of $15.68.

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.