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

Bloom Energy Co. (NYSE:BE - Get Free Report) CEO Kr Sridhar sold 42,383 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the transaction, the chief executive officer now directly owns 2,724,613 shares of the company's stock, valued at $52,149,092.82. This represents a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bloom Energy Stock Performance

NYSE:BE opened at $20.11 on Thursday. The firm's 50 day moving average is $19.60 and its two-hundred day moving average is $21.49. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a market cap of $4.67 billion, a P/E ratio of -35.91 and a beta of 3.25.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 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 quarter last year, the firm posted ($0.17) EPS. The business's revenue for the quarter was up 38.5% compared to the same quarter last year. Analysts expect that Bloom Energy Co. will post -0.23 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently commented on BE. JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Redburn Atlantic lowered shares of Bloom Energy from a "neutral" rating to a "sell" rating and lowered their price target for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Piper Sandler lowered their price target on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Finally, HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a research report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.47.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently made changes to their positions in the business. Comerica Bank raised its stake in shares of Bloom Energy by 5.8% in the 1st quarter. Comerica Bank now owns 88,554 shares of the company's stock valued at $1,741,000 after acquiring an additional 4,885 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Bloom Energy by 459.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 44,120 shares of the company's stock valued at $867,000 after purchasing an additional 36,232 shares in the last quarter. Synovus Financial Corp acquired a new stake in Bloom Energy during the 1st quarter valued at $1,306,000. AlphaQuest LLC grew its holdings in Bloom Energy by 127.5% during the 1st quarter. AlphaQuest LLC now owns 5,358 shares of the company's stock valued at $105,000 after purchasing an additional 3,003 shares in the last quarter. Finally, Portland Investment Counsel Inc. acquired a new stake in Bloom Energy during the 1st quarter valued at $295,000. 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.

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