Insider Selling: Bloom Energy Co. (NYSE:BE) Insider Sells 1,020 Shares of Stock

Bloom Energy Co. (NYSE:BE) insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Bloom Energy Stock Performance

Shares of BE traded down $0.31 during mid-day trading on Tuesday, hitting $23.88. The stock had a trading volume of 5,423,474 shares, compared to its average volume of 6,647,343. The company has a market cap of $5.50 billion, a PE ratio of -42.64 and a beta of 3.30. The company’s fifty day simple moving average is $24.08 and its two-hundred day simple moving average is $19.14. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a fifty-two week low of $9.02 and a fifty-two week high of $29.83.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in BE. Millburn Ridgefield Corp boosted its position in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the period. GAMMA Investing LLC boosted its position in Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after purchasing an additional 569 shares during the period. Arizona State Retirement System boosted its position in Bloom Energy by 1.3% during the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock valued at $1,324,000 after purchasing an additional 759 shares during the period. Jones Financial Companies Lllp boosted its position in Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after purchasing an additional 812 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares during the period. Institutional investors and hedge funds own 77.04% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Bank of America lowered their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. BTIG Research increased their target price on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Morgan Stanley increased their target price on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, JPMorgan Chase & Co. increased their target price on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $24.67.

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.