Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 45,256 shares of the company's stock in a transaction that occurred on Tuesday, April 6th. The stock was sold at an average price of $25.74, for a total transaction of $1,164,889.44. Following the sale, the chief executive officer now owns 519,767 shares in the company, valued at $13,378,802.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of BE stock traded down $0.99 during trading hours on Wednesday, hitting $24.71. The stock had a trading volume of 2,613,160 shares, compared to its average volume of 4,391,089. The firm has a market capitalization of $4.25 billion, a PE ratio of -15.96 and a beta of 3.77. Bloom Energy Co. has a twelve month low of $5.15 and a twelve month high of $44.95. The stock's 50 day moving average is $28.14 and its 200 day moving average is $26.41. The company has a debt-to-equity ratio of 20.91, a current ratio of 1.67 and a quick ratio of 1.33.
Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Wednesday, February 10th. The company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.15) by $0.07. The firm had revenue of $249.40 million during the quarter, compared to analyst estimates of $223.41 million. Bloom Energy's quarterly revenue was up 16.7% compared to the same quarter last year. As a group, equities analysts predict that Bloom Energy Co. will post -1.17 earnings per share for the current year.
Several hedge funds have recently bought and sold shares of BE. BlackRock Inc. lifted its holdings in shares of Bloom Energy by 16.9% during the fourth quarter. BlackRock Inc. now owns 6,671,415 shares of the company's stock worth $191,202,000 after purchasing an additional 965,093 shares during the period. Morgan Stanley lifted its holdings in shares of Bloom Energy by 24.1% during the fourth quarter. Morgan Stanley now owns 4,672,611 shares of the company's stock worth $133,917,000 after purchasing an additional 907,004 shares during the period. UBS Asset Management Americas Inc. lifted its holdings in shares of Bloom Energy by 738.6% during the fourth quarter. UBS Asset Management Americas Inc. now owns 2,322,998 shares of the company's stock worth $66,577,000 after purchasing an additional 2,045,980 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Bloom Energy by 70.5% during the fourth quarter. Wells Fargo & Company MN now owns 2,173,925 shares of the company's stock worth $62,305,000 after purchasing an additional 898,923 shares during the period. Finally, Clearbridge Investments LLC lifted its holdings in shares of Bloom Energy by 52.4% during the fourth quarter. Clearbridge Investments LLC now owns 2,110,752 shares of the company's stock worth $60,494,000 after purchasing an additional 725,974 shares during the period. 49.58% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on BE. Raymond James raised Bloom Energy from a "market perform" rating to an "outperform" rating and set a $33.00 price target for the company in a report on Wednesday, March 10th. Credit Suisse Group raised Bloom Energy from a "neutral" rating to an "outperform" rating and set a $35.00 price target for the company in a report on Monday, March 15th. Morgan Stanley lowered their price target on Bloom Energy from $34.00 to $28.00 and set an "equal weight" rating for the company in a report on Tuesday, March 16th. Sanford C. Bernstein began coverage on Bloom Energy in a report on Wednesday, February 3rd. They issued a "market perform" rating for the company. Finally, Northcoast Research began coverage on Bloom Energy in a report on Tuesday, March 30th. They issued a "buy" rating and a $35.00 price target for the company. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of "Hold" and an average target price of $27.88.
About Bloom Energy
Bloom Energy Corp. engages in the manufacture and installation of on-site distributed power generators. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K. R. Sridhar, John Finn, Jim McElroy, Matthias Gottmann and Dien Nguyen on January 18, 2001 and is headquartered in San Jose, CA.
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