Bloom Energy Co. (NYSE:BE) Insider Satish Chitoori 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 on 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 $4,482,479.04. The trade was a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Bloom Energy Price Performance

Bloom Energy stock opened at $23.88 on Wednesday. The stock’s 50 day moving average is $24.08 and its 200 day moving average is $19.14. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market cap of $5.50 billion, a P/E ratio of -42.64 and a beta of 3.30. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. HSBC cut Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price on the stock. in a research report on Wednesday, November 20th. Robert W. Baird lifted their target price on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. UBS Group lifted their target price on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Roth Capital upgraded Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, Piper Sandler decreased their target price on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.67.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Bloom Energy by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock worth $427,194,000 after acquiring an additional 356,317 shares during the period. Norges Bank bought a new stake in Bloom Energy in the fourth quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in Bloom Energy in the fourth quarter worth approximately $61,968,000. JAT Capital Mgmt LP increased its holdings in Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Bloom Energy by 7.3% in the fourth quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock worth $47,381,000 after purchasing an additional 144,616 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

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.