Stock Traders Purchase High Volume of Call Options on Bloom Energy (NYSE:BE)

Bloom Energy Corporation (NYSE:BE - Get Free Report) saw some unusual options trading on Wednesday. Traders acquired 23,775 call options on the stock. This represents an increase of 83% compared to the typical daily volume of 12,970 call options.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group lowered their price target on Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Susquehanna decreased their price objective on Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a report on Monday, April 14th. Piper Sandler reduced their target price on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Robert W. Baird reduced their target price on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group restated a "buy" rating on shares of Bloom Energy in a research report on Wednesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Bloom Energy currently has an average rating of "Moderate Buy" and a consensus price target of $23.97.

Insider Activity at Bloom Energy

In other news, insider Aman Joshi sold 4,658 shares of the firm's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $91,855.76. Following the sale, the insider directly owned 131,371 shares of the company's stock, valued at approximately $2,590,636.12. This trade represents a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of the firm's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total value of $811,210.62. Following the completion of the sale, the chief executive officer directly owned 2,724,613 shares in the company, valued at approximately $52,149,092.82. This represents a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,501 shares of company stock valued at $1,236,191. Insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC boosted its stake in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after buying an additional 934 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after acquiring an additional 812 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Bloom Energy by 0.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock valued at $36,737,000 after acquiring an additional 10,265 shares during the period. M&T Bank Corp raised its holdings in Bloom Energy by 14.7% in the 4th quarter. M&T Bank Corp now owns 47,899 shares of the company's stock valued at $1,064,000 after acquiring an additional 6,122 shares during the period. Finally, Proficio Capital Partners LLC bought a new position in shares of Bloom Energy during the fourth quarter worth approximately $787,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Bloom Energy Trading Up 15.6%

Shares of BE traded up $3.80 during trading hours on Wednesday, reaching $28.10. The stock had a trading volume of 9,591,279 shares, compared to its average volume of 6,280,134. The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. Bloom Energy has a 52 week low of $9.02 and a 52 week high of $29.83. The firm has a 50-day moving average of $20.44 and a 200 day moving average of $21.73. The company has a market cap of $6.53 billion, a P/E ratio of -561.89 and a beta of 3.22.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. The business had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The firm's quarterly revenue was up 38.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.17) EPS. On average, sell-side analysts expect that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

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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