Satish Chitoori Sells 400 Shares of Bloom Energy (NYSE:BE) Stock

Key Points

• Insider Trading: Satish Chitoori, an insider at Bloom Energy, sold 400 shares for $28,464, decreasing their ownership by 0.17% while still holding 231,965 shares valued at approximately $16.5 million.
• Stock Performance: Bloom Energy's stock rose by 1.8% to reach $81.08, with a significant trading volume of over 15 million shares, compared to an average of over 10 million.
• Analyst Upgrades: Analysts have raised their price targets for Bloom Energy, with Roth Capital adjusting its price goal from $20 to $25 and UBS Group from $29 to $41, indicating strong market confidence.

Bloom Energy Corporation (NYSE:BE - Get Free Report) insider Satish Chitoori sold 400 shares of the business's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $71.16, for a total value of $28,464.00. Following the completion of the sale, the insider directly owned 231,965 shares of the company's stock, valued at approximately $16,506,629.40. This represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Satish Chitoori also recently made the following trade(s):

• On Thursday, August 14th, Satish Chitoori sold 2,128 shares of Bloom Energy stock. The shares were sold at an average price of $43.44, for a total value of $92,440.32.
• On Wednesday, August 13th, Satish Chitoori sold 20,000 shares of Bloom Energy stock. The shares were sold at an average price of $45.00, for a total value of $900,000.00.

Bloom Energy Stock Up 5.1%

Bloom Energy stock traded up $4.13 during midday trading on Friday, hitting $85.10. The stock had a trading volume of 16,573,178 shares, compared to its average volume of 7,891,276. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The stock has a market cap of $19.91 billion, a P/E ratio of 2,128.03 and a beta of 3.28. Bloom Energy Corporation has a 12 month low of $9.02 and a 12 month high of $85.40. The business has a fifty day moving average price of $44.78 and a 200 day moving average price of $28.92.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.08. The firm had revenue of $401.24 million during the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.Bloom Energy's quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. Research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current year.

Analyst Upgrades and Downgrades

BE has been the subject of a number of research reports. Susquehanna lifted their target price on Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a research note on Monday, July 21st. JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Roth Capital lifted their target price on Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a research note on Friday. Morgan Stanley lifted their target price on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Wells Fargo & Company lifted their target price on Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a research note on Friday, September 12th. Two investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $32.13.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Prospera Financial Services Inc boosted its position in shares of Bloom Energy by 0.3% during the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock worth $2,285,000 after buying an additional 313 shares during the period. Ameritas Investment Partners Inc. boosted its position in shares of Bloom Energy by 2.1% during the second quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company's stock worth $500,000 after buying an additional 425 shares during the period. Blair William & Co. IL boosted its position in shares of Bloom Energy by 2.8% during the second quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock worth $389,000 after buying an additional 437 shares during the period. CWM LLC boosted its position in shares of 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 during the period. Finally, Steward Partners Investment Advisory LLC boosted its position 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 buying an additional 658 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.