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

Bloom Energy Co. (NYSE:BE - Get Free Report) CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total value of $811,210.62. Following the transaction, the chief executive officer now directly owns 2,724,613 shares in the company, valued at approximately $52,149,092.82. The trade was a 1.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Bloom Energy Stock Up 0.6%

Shares of NYSE BE traded up $0.11 during midday trading on Tuesday, reaching $19.34. 515,564 shares of the company's stock traded hands, compared to its average volume of 6,677,495. The company has a market cap of $4.49 billion, a price-to-earnings ratio of -34.54 and a beta of 3.25. The stock's 50 day simple moving average is $19.34 and its 200-day simple moving average is $21.85. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $294.27 million. During the same period in the prior year, the firm posted ($0.17) earnings per share. The company's quarterly revenue was up 38.5% on a year-over-year basis. On average, analysts predict that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Roth Mkm cut their price target on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a report on Wednesday, April 16th. Truist Financial lowered their price target on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Jefferies Financial Group reduced their price objective on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley lowered their target price on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, Royal Bank of Canada set a $26.00 price target on shares of Bloom Energy in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of "Moderate Buy" and a consensus target price of $22.47.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. CWM LLC boosted its holdings in Bloom Energy by 23.7% during the first quarter. CWM LLC now owns 3,360 shares of the company's stock worth $66,000 after buying an additional 644 shares in the last quarter. Arizona State Retirement System grew its position in shares of Bloom Energy by 1.3% during the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company's stock valued at $1,324,000 after acquiring an additional 759 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after purchasing an additional 812 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after purchasing an additional 934 shares during the period. Finally, Xponance Inc. grew its holdings in Bloom Energy by 6.4% in the first quarter. Xponance Inc. now owns 15,484 shares of the company's stock valued at $304,000 after purchasing an additional 935 shares during the period. 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.