Bloom Energy (NYSE:BE) Shares Down 2.9% on Insider Selling

Key Points

• Shares fell 2.9% after director Mary K. Bush sold 36,000 shares on Nov. 5 at an average of $142.82 (a $5.14M sale), trimming her position by 21.24% as trading volume rose about 10%.
• Bloom beat quarterly estimates with EPS $0.15 (vs. $0.08 est.) and revenue of $519.05M (vs. $425.18M), with revenue up 57% year-over-year, but analysts still model a fiscal-year EPS of -0.23.
• The stock sits at a lofty valuation (market cap $32.13B, P/E ~716.9) while the analyst consensus is a "Hold" with a consensus target of $95.65, well below current trading levels.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s stock price dropped 2.9% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $133.83 and last traded at $137.2940. Approximately 9,967,691 shares traded hands during trading, an increase of 10% from the average daily volume of 9,035,553 shares. The stock had previously closed at $141.41.

Specifically, Director Mary K. Bush sold 36,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total value of $5,141,520.00. Following the sale, the director directly owned 133,524 shares in the company, valued at $19,069,897.68. This trade represents a 21.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Analyst Upgrades and Downgrades

BE has been the topic of several analyst reports. BMO Capital Markets set a $136.00 target price on Bloom Energy in a research report on Wednesday, October 29th. Roth Capital restated a "neutral" rating and issued a $103.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. TD Cowen lifted their price target on Bloom Energy to $105.00 and gave the company a "hold" rating in a research report on Wednesday, October 29th. Wells Fargo & Company lifted their price target on Bloom Energy to $95.00 and gave the company an "equal weight" rating in a research report on Tuesday, October 21st. Finally, Bank of America lifted their price target on Bloom Energy from $24.00 to $26.00 and gave the company an "underperform" rating in a research report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $95.65.

Bloom Energy Trading Down 2.9%

The firm has a market capitalization of $32.13 billion, a P/E ratio of 716.94, a price-to-earnings-growth ratio of 72.72 and a beta of 3.43. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The firm has a 50 day moving average price of $88.33 and a two-hundred day moving average price of $48.07.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.07. The business had revenue of $519.05 million during the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The company's revenue was up 57.1% compared to the same quarter last year. During the same period last year, the company posted ($0.01) EPS. On average, equities research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently modified their holdings of BE. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Bloom Energy by 54.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 24,669 shares of the company's stock worth $485,000 after acquiring an additional 8,743 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock worth $1,445,000 after buying an additional 63,875 shares during the period. Concurrent Investment Advisors LLC boosted its position in shares of Bloom Energy by 208.9% in the first quarter. Concurrent Investment Advisors LLC now owns 39,925 shares of the company's stock worth $785,000 after buying an additional 27,001 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of Bloom Energy by 43.3% in the first quarter. Envestnet Asset Management Inc. now owns 24,965 shares of the company's stock worth $491,000 after buying an additional 7,540 shares during the period. Finally, M&T Bank Corp boosted its position in shares of Bloom Energy by 14.7% in the first quarter. M&T Bank Corp now owns 54,922 shares of the company's stock worth $1,080,000 after buying an additional 7,023 shares during the period. 77.04% of the stock is owned by institutional investors.

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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