Insider Selling: Bloom Energy Co. (NYSE:BE) Insider Sells $25,591.80 in Stock

Bloom Energy Co. (NYSE:BE) insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the sale, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Bloom Energy Stock Performance

Shares of NYSE BE opened at $25.46 on Friday. 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 firm has a market cap of $5.87 billion, a price-to-earnings ratio of -45.46 and a beta of 3.30. The business’s 50-day simple moving average is $24.10 and its 200-day simple moving average is $19.22. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83.

Wall Street Analysts Forecast Growth

BE has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Robert W. Baird boosted their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Mizuho initiated coverage on Bloom Energy in a research report on Tuesday. They set a “neutral” rating and a $28.00 price target on the stock. Jefferies Financial Group upped their price target on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Finally, Susquehanna upped their target price on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus price target of $25.06.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its stake in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares during the last quarter. Mainstream Capital Management LLC acquired a new position in Bloom Energy during the 4th quarter worth $28,000. Jones Financial Companies Lllp lifted its position in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after acquiring an additional 812 shares during the last quarter. Quarry LP bought a new stake in Bloom Energy during the fourth quarter valued at about $35,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of Bloom Energy in the fourth quarter valued at about $40,000. Institutional investors and hedge funds 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.