Bloom Energy Co. (NYSE:BE) Insider Shawn Marie Soderberg Sells 8,963 Shares

Bloom Energy Co. (NYSE:BE) insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the completion of the sale, the insider now directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shawn Marie Soderberg also recently made the following trade(s):

• On Monday, March 18th, Shawn Marie Soderberg sold 2,160 shares of Bloom Energy stock. The shares were sold at an average price of $9.31, for a total transaction of $20,109.60.
• On Friday, February 16th, Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80.

Bloom Energy Stock Down 0.8 %

BE traded down $0.08 during midday trading on Wednesday, reaching $9.80. The company’s stock had a trading volume of 4,280,647 shares, compared to its average volume of 5,484,385. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of -6.76 and a beta of 2.79. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. Bloom Energy Co. has a 1 year low of $8.41 and a 1 year high of $18.77. The stock’s 50-day moving average is $10.38 and its 200-day moving average is $11.79.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The business had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. As a group, research analysts expect that Bloom Energy Co. will post -0.17 EPS for the current year.

Analysts Set New Price Targets

BE has been the subject of a number of recent analyst reports. Evercore ISI initiated coverage on shares of Bloom Energy in a research report on Monday, April 1st. They set an “outperform” rating and a $21.00 price target for the company. Raymond James reduced their price target on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating for the company in a research report on Friday, February 16th. Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $16.00 to $10.00 in a research report on Monday, January 29th. Robert W. Baird raised shares of Bloom Energy from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $16.00 to $22.00 in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. downgraded shares of Bloom Energy from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $19.00 to $14.00 in a research note on Friday, February 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $16.69.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently made changes to their positions in the company. Millburn Ridgefield Corp bought a new position in Bloom Energy during the third quarter valued at approximately $33,000. Quest Partners LLC bought a new position in Bloom Energy in the fourth quarter worth approximately $51,000. Allspring Global Investments Holdings LLC raised its position in Bloom Energy by 17.0% in the third quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock worth $102,000 after acquiring an additional 1,117 shares during the period. 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 worth $112,000 after acquiring an additional 1,017 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Bloom Energy in the first quarter worth approximately $123,000. Hedge funds and other institutional investors 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.