Insider Selling: Bloom Energy Co. (NYSE:BE) CEO Sells 72,903 Shares of Stock

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the transaction, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Kr Sridhar also recently made the following trade(s):

• On Friday, November 22nd, Kr Sridhar sold 46,697 shares of Bloom Energy stock. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00.

Bloom Energy Stock Up 7.6 %

Shares of Bloom Energy stock traded up $1.82 during trading on Friday, reaching $25.77. The stock had a trading volume of 10,571,341 shares, compared to its average volume of 6,503,440. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a market capitalization of $5.89 billion, a price-to-earnings ratio of -46.00 and a beta of 2.71. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $26.26. The stock has a fifty day moving average price of $11.91 and a two-hundred day moving average price of $12.61.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BE. Susquehanna lifted their target price on shares of Bloom Energy from $13.00 to $16.00 and gave the company a “positive” rating in a research report on Tuesday, November 12th. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective on the stock. in a research note on Wednesday. Royal Bank of Canada raised their target price on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Jefferies Financial Group upped their price target on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $18.66.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently bought and sold shares of the company. Millburn Ridgefield Corp boosted its holdings in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Bloom Energy in the second quarter valued at approximately $40,000. Quest Partners LLC lifted its holdings in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after purchasing an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in Bloom Energy during the second quarter worth $53,000. Finally, Mather Group LLC. acquired a new position in shares of Bloom Energy in the second quarter valued at $66,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.