Bloom Energy Target of Unusually Large Options Trading (NYSE:BE)

Bloom Energy Co. (NYSE:BE) was the target of unusually large options trading activity on Thursday. Traders bought 24,602 call options on the stock. This represents an increase of 35% compared to the average daily volume of 18,255 call options.

Bloom Energy Stock Performance

BE stock traded up $1.45 during trading on Thursday, reaching $25.76. 7,333,434 shares of the stock were exchanged, compared to its average volume of 6,617,358. The stock has a 50 day simple moving average of $24.08 and a 200-day simple moving average of $19.18. 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 $5.94 billion, a P/E ratio of -46.00 and a beta of 3.30. Bloom Energy has a twelve month low of $9.02 and a twelve month high of $29.83.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Morgan Stanley lifted their target price on shares of Bloom Energy from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. BTIG Research raised their target price on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. Susquehanna upped their price target on Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. Finally, Truist Financial raised their price objective on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.06.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were 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. This trade represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in BE. Millburn Ridgefield Corp raised its holdings in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares in the last quarter. Mainstream Capital Management LLC bought a new stake in Bloom Energy in the fourth quarter valued at $28,000. Smartleaf Asset Management LLC raised its stake in Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at $34,000. 77.04% of the stock is owned by institutional investors.

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.