Bloom Energy (NYSE:BE – Get Free Report) issued its quarterly earnings results on Thursday. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06), Briefing.com reports. Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. The firm had revenue of $335.80 million for the quarter, compared to the consensus estimate of $307.73 million. During the same period in the prior year, the business posted ($0.32) earnings per share. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Bloom Energy updated its FY 2024 guidance to EPS.
Bloom Energy Stock Up 9.0 %
Shares of Bloom Energy stock traded up $0.95 during trading on Friday, reaching $11.49. The company’s stock had a trading volume of 9,401,232 shares, compared to its average volume of 6,248,928. The company has a quick ratio of 2.97, a current ratio of 4.45 and a debt-to-equity ratio of 2.56. The company has a market cap of $2.61 billion, a price-to-earnings ratio of -8.51 and a beta of 2.80. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $18.14. The company has a 50-day simple moving average of $13.43 and a two-hundred day simple moving average of $12.02.
Insider Transactions at Bloom Energy
In other news, CEO Kr Sridhar sold 40,112 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $11.93, for a total value of $478,536.16. Following the completion of the sale, the chief executive officer now owns 2,742,496 shares of the company’s stock, valued at approximately $32,717,977.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Eddy Zervigon sold 28,150 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the completion of the transaction, the director now owns 111,161 shares in the company, valued at approximately $1,429,530.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 40,112 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $11.93, for a total value of $478,536.16. Following the completion of the transaction, the chief executive officer now owns 2,742,496 shares of the company’s stock, valued at approximately $32,717,977.28. The disclosure for this sale can be found here. Insiders sold 71,516 shares of company stock valued at $885,088 in the last quarter. 8.81% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Report on BE
Bloom Energy Company Profile
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.
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