Aman Joshi Sells 4,543 Shares of Bloom Energy (NYSE:BE) Stock

Bloom Energy Corporation (NYSE:BE) insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction on Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the sale, the insider directly owned 219,818 shares of the company’s stock, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Bloom Energy Stock Down 2.1%

Shares of BE traded down $2.26 during midday trading on Tuesday, reaching $104.85. 13,028,846 shares of the stock were exchanged, compared to its average volume of 9,277,600. The company has a market capitalization of $24.80 billion, a P/E ratio of 621.61, a PEG ratio of 63.05 and a beta of 3.43. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. Bloom Energy Corporation has a 52 week low of $15.15 and a 52 week high of $147.86. The company’s 50 day moving average is $99.46 and its two-hundred day moving average is $54.22.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company had revenue of $508.69 million during the quarter, compared to analyst estimates of $425.18 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 57.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BE. Jefferies Financial Group reaffirmed an “underperform” rating and set a $53.00 target price on shares of Bloom Energy in a research report on Friday, October 31st. Roth Capital reaffirmed a “neutral” rating and set a $103.00 price objective on shares of Bloom Energy in a research report on Wednesday, October 29th. UBS Group lifted their target price on Bloom Energy to $115.00 and gave the company a “buy” rating in a research note on Tuesday, October 14th. Morgan Stanley increased their price target on shares of Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. Finally, BTIG Research raised their price target on shares of Bloom Energy to $145.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $95.65.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds have recently modified their holdings of BE. Banque Transatlantique SA raised its holdings in shares of Bloom Energy by 227.6% in the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock worth $30,000 after buying an additional 1,161 shares during the last quarter. Harbour Investments Inc. increased 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 valued at $31,000 after acquiring an additional 1,512 shares during the period. N.E.W. Advisory Services LLC purchased a new position in Bloom Energy in the 3rd quarter worth $32,000. Fifth Third Bancorp acquired a new stake in Bloom Energy during the 3rd quarter worth about $32,000. Finally, Parkside Financial Bank & Trust lifted its position in Bloom Energy by 250.9% during the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after acquiring an additional 281 shares during the period. 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.