Insider Selling: Bloom Energy Co. (NYSE:BE) CEO Sells $1,167,425.00 in Stock

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 46,697 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the transaction, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, November 20th, Kr Sridhar sold 72,903 shares of Bloom Energy stock. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06.

Bloom Energy Trading Up 7.6 %

NYSE BE opened at $25.76 on Monday. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of -46.00 and a beta of 2.71. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $26.26. The stock’s 50 day moving average price is $12.22 and its two-hundred day moving average price is $12.71. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds have recently modified their holdings of BE. Vanguard Group Inc. grew its stake in Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after purchasing an additional 156,434 shares in the last quarter. Electron Capital Partners LLC grew its stake in shares of Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after buying an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP increased its holdings in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after buying an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. raised its position in Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after acquiring an additional 462,581 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its stake in Bloom Energy by 48.6% in the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after acquiring an additional 284,298 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BE shares. Truist Financial cut their target price 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, October 16th. Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. BTIG Research upped their target price on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. BMO Capital Markets raised their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. Finally, Bank of America decreased their price target on Bloom Energy from $8.00 to $7.00 and set an “underperform” rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus price target of $18.66.

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.