Insider Selling: Bloom Energy Corporation (NYSE:BE) Insider Sells 4,870 Shares of Stock

Key Points

• Insider Aman Joshi sold 4,870 shares of Bloom Energy at an average price of $43.36, resulting in a total transaction value of $211,163.20, which decreased his ownership by 2.12%.
• Bloom Energy reported $401.24 million in revenue for the last quarter, exceeding analysts' expectations, and achieved a net margin of 1.45% and a return on equity of 6.80%.
• Bloom Energy's stock price has a 12-month high of $47.21 and an average target price of $26.39, reflecting mixed ratings from analysts.

Bloom Energy Corporation (NYSE:BE - Get Free Report) insider Aman Joshi sold 4,870 shares of the stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the sale, the insider directly owned 224,361 shares in the company, valued at $9,728,292.96. This trade represents a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bloom Energy Trading Up 0.5%

Shares of Bloom Energy stock traded up $0.21 during mid-day trading on Friday, hitting $45.32. The stock had a trading volume of 12,427,549 shares, compared to its average volume of 7,259,198. The firm has a market cap of $10.60 billion, a P/E ratio of 1,133.28 and a beta of 3.28. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The firm has a 50-day moving average of $28.57 and a two-hundred day moving average of $23.53. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $47.21.

Bloom Energy (NYSE:BE - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. Bloom Energy's revenue for the quarter was up 19.5% compared to the same quarter last year. Sell-side analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Institutional Trading of Bloom Energy

A number of institutional investors and hedge funds have recently bought and sold shares of BE. Prospera Financial Services Inc lifted its holdings in shares of Bloom Energy by 0.3% in the 2nd quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock valued at $2,285,000 after buying an additional 313 shares during the period. Ameritas Investment Partners Inc. increased its stake in shares of Bloom Energy by 2.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company's stock worth $500,000 after purchasing an additional 425 shares in the last quarter. Blair William & Co. IL grew its holdings in Bloom Energy by 2.8% during the 2nd quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock valued at $389,000 after buying an additional 437 shares during the last quarter. CWM LLC grew its holdings in Bloom Energy by 23.7% during the 1st quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after buying an additional 644 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in shares of Bloom Energy by 2.5% during the second quarter. Steward Partners Investment Advisory LLC now owns 26,949 shares of the company's stock worth $645,000 after purchasing an additional 658 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

BE has been the subject of several recent research reports. Roth Capital lifted their price objective on Bloom Energy from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Susquehanna lifted their price target on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Piper Sandler reduced their price target on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. UBS Group increased their price target on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Truist Financial decreased their price objective on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy has an average rating of "Moderate Buy" and an average target price of $26.39.

About Bloom Energy

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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