Bloom Energy Co. (NYSE:BE) Insider Glen Griffiths Sells 2,122 Shares

Posted by admin on Mar 18th, 2023

Bloom Energy Co. (NYSE:BE – Get Rating) insider Glen Griffiths sold 2,122 shares of the firm’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $18.03, for a total value of $38,259.66. Following the completion of the transaction, the insider now directly owns 403,498 shares of the company’s stock, valued at $7,275,068.94. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Glen Griffiths also recently made the following trade(s):

On Thursday, February 16th, Glen Griffiths sold 5,955 shares of Bloom Energy stock. The shares were sold at an average price of $23.61, for a total value of $140,597.55.

Bloom Energy Trading Down 4.8 %

Shares of BE traded down $0.87 during trading hours on Friday, hitting $17.15. The stock had a trading volume of 4,456,221 shares, compared to its average volume of 2,425,366. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.45 and a current ratio of 1.95. The firm has a market cap of $3.53 billion, a P/E ratio of -10.39 and a beta of 2.89. The company’s fifty day simple moving average is $22.85 and its 200 day simple moving average is $21.47. Bloom Energy Co. has a 12-month low of $11.47 and a 12-month high of $31.47.

Bloom Energy (NYSE:BE – Get Rating) last issued its earnings results on Thursday, February 9th. The company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The firm had revenue of $462.60 million during the quarter, compared to analysts’ expectations of $398.36 million. Bloom Energy had a negative return on equity of 194.49% and a negative net margin of 25.14%. The company’s quarterly revenue was up 35.1% compared to the same quarter last year. During the same period last year, the business posted ($0.16) earnings per share. Equities research analysts forecast that Bloom Energy Co. will post -0.64 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Private Trust Co. NA purchased a new position in Bloom Energy in the fourth quarter valued at about $57,000. Quent Capital LLC purchased a new position in Bloom Energy in the fourth quarter valued at about $57,000. Counterpoint Mutual Funds LLC purchased a new position in Bloom Energy in the third quarter valued at about $89,000. Quantbot Technologies LP raised its position in Bloom Energy by 27.8% in the first quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock valued at $112,000 after purchasing an additional 1,017 shares during the period. Finally, Sandia Investment Management LP purchased a new position in Bloom Energy in the third quarter valued at about $100,000. 79.55% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on BE shares. Truist Financial increased their target price on Bloom Energy from $20.00 to $26.00 and gave the company a “hold” rating in a report on Tuesday, February 7th. TheStreet upgraded Bloom Energy from a “d” rating to a “c-” rating in a report on Thursday, February 9th. Credit Suisse Group reiterated an “outperform” rating and set a $32.00 target price on shares of Bloom Energy in a report on Monday, February 13th. Morgan Stanley upgraded Bloom Energy from an “equal weight” rating to an “overweight” rating and lowered their target price for the company from $37.00 to $35.00 in a report on Tuesday, January 10th. Finally, JPMorgan Chase & Co. cut Bloom Energy from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $29.00 to $27.00 in a report on Friday, February 10th. Five investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $30.40.

Bloom Energy Company Profile

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Bloom Energy Corp. engages in the manufacture and installation of a solid oxide fuel-cell based power generation platform. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K.