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 company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the transaction, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Bloom Energy Stock Performance

NYSE:BE opened at $25.46 on Friday. The stock has a market capitalization of $5.87 billion, a P/E ratio of -45.46 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 1 year low of $9.02 and a 1 year high of $29.83. The firm has a 50 day moving average of $24.10 and a 200-day moving average of $19.22.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its holdings in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after purchasing an additional 934 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in Bloom Energy during the 4th quarter worth about $28,000. Jones Financial Companies Lllp increased its position in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares in the last quarter. Quarry LP bought a new position in shares of Bloom Energy in the fourth quarter worth about $35,000. Finally, Avior Wealth Management LLC acquired a new position in shares of Bloom Energy during the fourth quarter worth approximately $40,000. Institutional investors own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BE shares. Jefferies Financial Group boosted their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Roth Capital raised Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Bank of America decreased their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. TD Cowen upped their target price on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday, February 28th. Finally, Roth Mkm started coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target on the stock. One 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 given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.06.

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.