Insider Selling: Bloom Energy (NYSE:BE) Director Sells 2,333 Shares of Company Stock

Key Points

• Director Barbara Burger sold 2,333 Bloom Energy shares at an average $215.05, totaling about $501,712; she retained 36,607 shares after the sale.
• Bloom shares fell 16.4% to $167.51 in Thursday trading, despite a 900-megawatt deployment agreement with NTT DATA and strong recent business updates.
• Third-quarter results beat estimates: revenue rose 138% year over year to $1.24 billion, and earnings were $0.94 per share versus a $0.69 consensus estimate.

Bloom Energy Corporation (NYSE:BE - Get Free Report) Director Barbara Burger sold 2,333 shares of the company's stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $215.05, for a total transaction of $501,711.65. Following the completion of the sale, the director directly owned 36,607 shares in the company, valued at $7,872,335.35. This represents a 5.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Bloom Energy Stock Down 16.4%

Shares of Bloom Energy stock traded down $32.89 during trading on Thursday, hitting $167.51. The company's stock had a trading volume of 37,081,356 shares, compared to its average volume of 13,396,850. Bloom Energy Corporation has a 52 week low of $75.70 and a 52 week high of $351.28. The company has a market capitalization of $49.52 billion, a PE ratio of 102.77, a P/E/G ratio of 2.16 and a beta of 3.63. The company has a fifty day simple moving average of $247.91 and a two-hundred day simple moving average of $220.78. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.08 and a current ratio of 3.74.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.25. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business earned $0.15 earnings per share. The business's revenue was up 138.1% on a year-over-year basis. Equities research analysts predict that Bloom Energy Corporation will post 2.61 earnings per share for the current year.

Trending Headlines about Bloom Energy

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: NTT DATA agreed to deploy 900 megawatts of Bloom’s onsite power across multiple data-center projects globally. The deal reinforces demand for Bloom’s power systems as data centers seek alternatives to grid delays. NTT DATA announces 900 MW agreement with Bloom Energy
• Positive Sentiment: Recent fundamentals remain strong: third-quarter revenue rose 138% year over year to $1.24 billion, and Bloom raised its full-year revenue outlook to $4.4 billion–$4.6 billion. Barclays also upgraded the stock, citing demand for onsite power. Bloom Energy raises full-year outlook
• Negative Sentiment: Investors are concerned that the midterm-election outcome and potential federal policy shifts could curb or delay AI data-center investment. That concern is pressuring technology and fuel-cell shares broadly, with Bloom selling off despite the NTT agreement. AI data-center concerns weigh on Bloom and chip stocks
• Negative Sentiment: After a substantial run-up, BE may be vulnerable to profit-taking and shifts in sentiment, particularly given its high valuation. A recent analyst caution also highlighted concerns about growth and the scope for further margin gains. Analyst downgrades Bloom Energy to Hold

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Montanova Capital LLC purchased a new position in Bloom Energy during the 2nd quarter worth $10,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Bloom Energy by 78.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company's stock valued at $401,849,000 after buying an additional 583,135 shares during the period. Militia Capital Management LLC bought a new stake in shares of Bloom Energy in the first quarter valued at about $813,000. Assenagon Asset Management S.A. raised its holdings in shares of Bloom Energy by 3,398.3% in the second quarter. Assenagon Asset Management S.A. now owns 239,877 shares of the company's stock valued at $72,611,000 after acquiring an additional 233,020 shares in the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new stake in Bloom Energy in the first quarter worth about $8,468,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group reiterated a "hold" rating and issued a $242.00 price objective on shares of Bloom Energy in a research note on Friday, October 23rd. KeyCorp restated a "sector weight" rating on shares of Bloom Energy in a research report on Friday, October 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $335.00 target price on shares of Bloom Energy in a report on Friday, October 23rd. Zacks Research downgraded shares of Bloom Energy from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 2nd. Finally, Mizuho increased their price target on shares of Bloom Energy from $242.00 to $351.00 and gave the stock an "outperform" rating in a research report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $263.05.

About Bloom Energy

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.

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