Bloom Energy (NYSE:BE) Insider Satish Chitoori Sells 2,085 Shares of Stock

Bloom Energy Corporation (NYSE:BE) insider Satish Chitoori sold 2,085 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $104.08, for a total transaction of $217,006.80. Following the transaction, the insider directly owned 229,880 shares in the company, valued at $23,925,910.40. This trade represents a 0.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Satish Chitoori also recently made the following trade(s):

• On Tuesday, September 16th, Satish Chitoori sold 400 shares of Bloom Energy stock. The shares were sold at an average price of $71.16, for a total transaction of $28,464.00.

Bloom Energy Stock Performance

NYSE:BE opened at $104.85 on Wednesday. The firm’s 50-day moving average is $100.46 and its 200-day moving average is $54.85. The company has a market cap of $24.80 billion, a price-to-earnings ratio of 595.06, a PEG ratio of 60.36 and a beta of 3.43. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. Bloom Energy Corporation has a 52-week low of $15.15 and a 52-week high of $147.86.

Bloom Energy (NYSE:BE) last released its earnings results 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 return on equity of 8.74% and a net margin of 0.84%.The business had revenue of $508.69 million for the quarter, compared to the consensus estimate of $425.18 million. During the same period last year, the business earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 57.1% compared to the same quarter last year. Equities research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently bought and sold shares of BE. Advisory Services Network LLC acquired a new position in Bloom Energy during the 3rd quarter worth about $139,000. Abel Hall LLC acquired a new position in shares of Bloom Energy during the third quarter worth approximately $362,000. Harvest Investment Services LLC acquired a new position in shares of Bloom Energy during the third quarter worth approximately $1,359,000. Kestra Private Wealth Services LLC bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $617,000. Finally, Revere Asset Management Inc acquired a new stake in shares of Bloom Energy in the third quarter valued at approximately $3,517,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BE shares. Mizuho set a $89.00 price objective on Bloom Energy in a research report on Wednesday, October 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $123.00 price objective on shares of Bloom Energy in a report on Monday, October 20th. Wells Fargo & Company boosted their price target on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Zacks Research lowered Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Finally, Bank of America lifted their price objective on Bloom Energy from $24.00 to $26.00 and gave the company an “underperform” rating in a report on Monday, October 20th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Bloom Energy currently has an average rating of “Hold” and a consensus price target of $95.65.

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.