Shawn Marie Soderberg Sells 45,000 Shares of Bloom Energy Corporation (NYSE:BE) Stock

Key Points

• Shawn Marie Soderberg, an insider of Bloom Energy, sold 45,000 shares at an average price of $43.31, which totals approximately $1.95 million and represents a 16.38% decrease in their ownership.
• Bloom Energy's stock recently reached $45.32, reflecting a 0.5% increase in value, while its market capitalization stands at about $10.60 billion.
• The company reported a positive quarterly earnings data with $0.10 EPS, exceeding analyst expectations, and showing a 19.5% increase in revenue compared to the previous year.

Bloom Energy Corporation (NYSE:BE - Get Free Report) insider Shawn Marie Soderberg sold 45,000 shares of the company's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the completion of the sale, the insider directly owned 229,682 shares in the company, valued at $9,947,527.42. This trade represents a 16.38% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Shawn Marie Soderberg also recently made the following trade(s):

• On Thursday, August 14th, Shawn Marie Soderberg sold 2,901 shares of Bloom Energy stock. The shares were sold at an average price of $43.44, for a total value of $126,019.44.

Bloom Energy Stock Up 0.5%

BE stock traded up $0.21 during midday trading on Friday, hitting $45.32. 12,427,549 shares of the company's stock were exchanged, compared to its average volume of 7,259,198. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. Bloom Energy Corporation has a 12-month low of $9.02 and a 12-month high of $47.21. The firm has a 50 day moving average price of $28.10 and a 200-day moving average price of $23.36. The stock has a market capitalization of $10.60 billion, a price-to-earnings ratio of 1,133.28 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%. Bloom Energy's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.06) EPS. On average, analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Institutional Trading of Bloom Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. bought a new position in Bloom Energy in the 4th quarter valued at about $61,968,000. Norges Bank bought a new position in Bloom Energy in the 2nd quarter valued at about $57,821,000. Man Group plc grew its position in Bloom Energy by 177.4% in the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company's stock valued at $57,239,000 after buying an additional 1,530,167 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. bought a new position in Bloom Energy in the 1st quarter valued at about $22,609,000. Finally, Voloridge Investment Management LLC lifted its holdings in Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock valued at $31,992,000 after acquiring an additional 1,100,352 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BE has been the topic of several recent research reports. Morgan Stanley upped their price objective on Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Truist Financial decreased their price objective on Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company increased their price objective on Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a research note on Friday, August 1st. Susquehanna increased their price objective on Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently 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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