Bloom Energy Co. (NYSE:BE) Insider Sells $31,657.84 in Stock

Bloom Energy Co. (NYSE:BE) insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shawn Marie Soderberg also recently made the following trade(s):

• On Wednesday, October 16th, Shawn Marie Soderberg sold 2,086 shares of Bloom Energy stock. The stock was sold at an average price of $10.50, for a total value of $21,903.00.

Bloom Energy Trading Up 4.1 %

Bloom Energy stock traded up $0.94 during midday trading on Tuesday, reaching $23.75. The stock had a trading volume of 14,481,257 shares, compared to its average volume of 6,436,156. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $24.92. The stock’s 50-day simple moving average is $11.08 and its 200 day simple moving average is $12.36. 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 market capitalization of $5.43 billion, a PE ratio of -42.41 and a beta of 2.71.

Analysts Set New Price Targets

BE has been the subject of a number of analyst reports. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $15.00 to $11.00 in a research note on Friday, September 6th. UBS Group cut their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Morgan Stanley increased their target price on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday. Piper Sandler raised Bloom Energy from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $10.00 to $20.00 in a research note on Friday. Finally, Robert W. Baird dropped their price objective on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Bloom Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after buying an additional 156,434 shares during the period. Electron Capital Partners LLC raised its stake in Bloom Energy by 131.5% during 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 raised its stake 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 valued at $23,221,000 after buying an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. raised its stake in Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in shares of Bloom Energy by 48.6% during the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after purchasing an additional 284,298 shares during 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.