Insider Selling: Bloom Energy (NYSE:BE) Insider Sells $37,979.72 in Stock

Bloom Energy Corporation (NYSE:BE) insider Satish Chitoori sold 431 shares of the company’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total transaction of $37,979.72. Following the transaction, the insider owned 229,449 shares in the company, valued at $20,219,045.88. The trade was a 0.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Satish Chitoori also recently made the following trade(s):

• On Friday, November 14th, Satish Chitoori sold 2,085 shares of Bloom Energy stock. The shares were sold at an average price of $104.08, for a total transaction of $217,006.80.

Bloom Energy Stock Performance

Shares of NYSE BE traded up $3.08 during mid-day trading on Thursday, hitting $80.05. The stock had a trading volume of 13,346,325 shares, compared to its average volume of 9,807,872. The firm has a market cap of $18.93 billion, a PE ratio of 486.72, a PEG ratio of 55.33 and a beta of 3.00. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The company has a 50 day moving average of $110.00 and a two-hundred day moving average of $66.68. Bloom Energy Corporation has a twelve month low of $15.15 and a twelve month high of $147.86.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business had revenue of $519.05 million for the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the previous year, the business earned ($0.01) EPS. The company’s quarterly revenue was up 57.1% compared to the same quarter last year. Research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Institutional Trading of Bloom Energy

Several institutional investors have recently bought and sold shares of the business. Banque Transatlantique SA raised its stake in shares of Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock worth $30,000 after buying an additional 1,161 shares during the period. N.E.W. Advisory Services LLC purchased a new stake in Bloom Energy in the 3rd quarter worth $32,000. Fifth Third Bancorp purchased a new stake in Bloom Energy in the 3rd quarter worth $32,000. Parkside Financial Bank & Trust raised its position in Bloom Energy by 250.9% during the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after acquiring an additional 281 shares during the period. Finally, Elevation Point Wealth Partners LLC purchased a new position in Bloom Energy during the second quarter valued at $36,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BE. Royal Bank Of Canada reissued an “outperform” rating and set a $123.00 price target on shares of Bloom Energy in a research report on Monday, October 20th. UBS Group raised their target price on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Morgan Stanley upped their price target on shares of Bloom Energy to $155.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wedbush set a $39.00 price target on Bloom Energy in a research report on Tuesday, November 25th. Finally, Robert W. Baird set a $157.00 price target on Bloom Energy in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and a consensus price target of $93.77.

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.