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

Bloom Energy Corporation (NYSE:BE - Get Free Report) was the target of some unusual options trading on Thursday. Stock traders bought 79,892 call options on the company. This represents an increase of approximately 427% compared to the average volume of 15,155 call options.

Analyst Upgrades and Downgrades

BE has been the subject of several analyst reports. Truist Financial decreased their target price on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Redburn Atlantic cut Bloom Energy from a "neutral" rating to a "sell" rating and lowered their target price for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. 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. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $18.00 to $33.00 in a research report on Wednesday, July 9th. Finally, Robert W. Baird dropped their price objective on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $24.97.

Bloom Energy Stock Performance

BE traded up $1.31 during trading on Friday, reaching $34.37. 16,423,808 shares of the company's stock were exchanged, compared to its average volume of 9,213,165. Bloom Energy has a 1 year low of $9.02 and a 1 year high of $34.78. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39. The stock has a market capitalization of $7.98 billion, a P/E ratio of -687.26 and a beta of 3.22. The company's fifty day simple moving average is $22.78 and its 200-day simple moving average is $22.01.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.10. The firm had revenue of $326.02 million for 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 company's revenue was up 38.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) EPS. As a group, research analysts predict that Bloom Energy will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kr Sridhar sold 42,383 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the transaction, the chief executive officer owned 2,724,613 shares in the company, valued at $52,149,092.82. This trade represents a 1.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Satish Chitoori sold 2,038 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total value of $40,209.74. Following the completion of the transaction, the insider directly owned 176,618 shares in the company, valued at approximately $3,484,673.14. The trade was a 1.14% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 63,513 shares of company stock worth $1,261,765. 3.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Defender Capital LLC. acquired a new stake in shares of Bloom Energy during the second quarter valued at $478,000. CWM LLC grew its position in shares of Bloom Energy by 47.3% in the 2nd quarter. CWM LLC now owns 4,949 shares of the company's stock worth $118,000 after acquiring an additional 1,589 shares in the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Bloom Energy during the 2nd quarter valued at approximately $245,000. Udine Wealth Management Inc. boosted its position in Bloom Energy by 22.0% during the 2nd quarter. Udine Wealth Management Inc. now owns 49,283 shares of the company's stock valued at $1,179,000 after purchasing an additional 8,886 shares during the period. Finally, Bernard Wealth Management Corp. boosted its position in Bloom Energy by 150.0% during the 2nd quarter. Bernard Wealth Management Corp. now owns 2,500 shares of the company's stock worth $60,000 after acquiring an additional 1,500 shares during the period. 77.04% of the stock is owned by institutional investors and hedge funds.

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.