Insider Selling: Bloom Energy Co. (NYSE:BE) CEO Sells $1,824,033.06 in Stock

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 72,903 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the transaction, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Friday, November 22nd, Kr Sridhar sold 46,697 shares of Bloom Energy stock. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00.

Bloom Energy Stock Performance

Shares of BE opened at $25.76 on Monday. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The stock has a 50-day moving average of $12.22 and a two-hundred day moving average of $12.71. The stock has a market cap of $5.89 billion, a P/E ratio of -46.00 and a beta of 2.71. Bloom Energy Co. has a one year low of $8.41 and a one year high of $26.26.

Wall Street Analyst Weigh In

BE has been the subject of several recent analyst reports. Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Robert W. Baird cut their target price on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a report on Friday, November 8th. BTIG Research boosted their price objective on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Susquehanna increased their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research note on Tuesday, November 12th. Finally, Marathon Capitl upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $18.66.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently bought and sold shares of the company. Millburn Ridgefield Corp grew its position in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the period. Xponance Inc. grew its holdings in Bloom Energy by 7.8% during the second quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after acquiring an additional 903 shares during the period. Kovitz Investment Group Partners LLC raised its position in Bloom Energy by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after acquiring an additional 1,349 shares in the last quarter. Arizona State Retirement System lifted its holdings in Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after acquiring an additional 1,470 shares during the period. Finally, Quest Partners LLC boosted its position in Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. Hedge funds and other institutional investors 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.