Key Points
- Insider sale: Bloom Energy director Maciej Kurzymski sold 3,264 shares on Dec. 16 at an average price of $86.48 for $282,270.72, trimming his position by 3.5% to 90,005 shares; he also sold 13,105 shares on Nov. 5 at $144.09.
- Company performance and market view: Bloom posted an earnings beat (Q EPS $0.15 vs. $0.08 est.) with revenue up 57.1% to $519.1M, but the stock carries a high P/E (~487) and a market cap near $18.9B while analysts’ consensus is an average "Hold" with a $93.77 target.
Bloom Energy Corporation (NYSE:BE - Get Free Report) insider Satish Chitoori sold 431 shares of the business's stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total transaction of $37,979.72. Following the completion of the sale, the insider owned 229,449 shares in the company, valued at approximately $20,219,045.88. This trade represents a 0.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
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 Price Performance
Bloom Energy stock opened at $80.05 on Friday. 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 market capitalization of $18.93 billion, a price-to-earnings ratio of 486.72, a price-to-earnings-growth ratio of 48.61 and a beta of 3.00. The company's 50 day simple moving average is $109.86 and its 200-day simple moving average is $66.77. Bloom Energy Corporation has a 1 year low of $15.15 and a 1 year high of $147.86.
Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The company had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the previous year, the company earned ($0.01) earnings per share. The firm's quarterly revenue was up 57.1% compared to the same quarter last year. As a group, equities research analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current year.
Institutional Investors Weigh In On Bloom Energy
Several institutional investors have recently modified their holdings of BE. Advisors Asset Management Inc. grew its position in shares of Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company's stock worth $1,704,000 after acquiring an additional 26,077 shares during the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in Bloom Energy during the 2nd quarter worth $108,000. Mizuho Markets Americas LLC grew its position in Bloom Energy by 29.9% during the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company's stock worth $9,460,000 after purchasing an additional 90,980 shares during the last quarter. Comerica Bank grew its position in Bloom Energy by 5.8% during the 1st quarter. Comerica Bank now owns 88,554 shares of the company's stock worth $1,741,000 after purchasing an additional 4,885 shares during the last quarter. Finally, Jump Financial LLC boosted its stake in shares of Bloom Energy by 137.8% during the second quarter. Jump Financial LLC now owns 332,722 shares of the company's stock worth $7,959,000 after buying an additional 192,790 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on BE shares. Wedbush set a $39.00 target price on Bloom Energy in a research note on Tuesday, November 25th. TD Cowen upped their target price on shares of Bloom Energy to $105.00 and gave the stock a "hold" rating in a research note on Wednesday, October 29th. Susquehanna increased their target price on shares of Bloom Energy to $157.00 and gave the stock a "positive" rating in a report on Wednesday, October 29th. Weiss Ratings reissued a "hold (c)" rating on shares of Bloom Energy in a research report on Thursday, October 30th. Finally, Oppenheimer reaffirmed a "market perform" rating on shares of Bloom Energy in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Bloom Energy presently has a consensus rating of "Hold" and an average price target of $93.77.
View Our Latest Research Report on BE
About Bloom Energy
(
Get Free Report)
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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