Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar Sells 42,383 Shares

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 42,383 shares of the stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the transaction, the chief executive officer now owns 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Bloom Energy Price Performance

Shares of Bloom Energy stock opened at $19.81 on Friday. The business has a 50 day moving average of $19.55 and a 200 day moving average of $21.55. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a market cap of $4.60 billion, a PE ratio of -35.37 and a beta of 3.25. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The business had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same period in the previous year, the firm earned ($0.17) EPS. The company’s quarterly revenue was up 38.5% compared to the same quarter last year. As a group, equities research analysts forecast that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Analyst Ratings Changes

BE has been the subject of a number of research reports. HSBC raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a research note on Tuesday, April 8th. Robert W. Baird cut their price target on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Mizuho raised Bloom Energy from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $28.00 to $26.00 in a research note on Monday, May 5th. JPMorgan Chase & Co. boosted their target price on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Finally, Bank of America dropped their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.47.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Mainstream Capital Management LLC purchased a new stake in Bloom Energy in the fourth quarter worth about $28,000. Smartleaf Asset Management LLC raised its position in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares in the last quarter. Banque Transatlantique SA lifted its stake in shares of Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after purchasing an additional 1,161 shares during the period. Harbour Investments Inc. lifted its stake 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 purchasing an additional 1,512 shares during the period. Finally, Jones Financial Companies Lllp boosted its position in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after purchasing an additional 812 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.