Bloom Energy Co. (NYSE:BE) CMO Sells $99,075.00 in Stock

Posted by Defense World Staff on Jan 25th, 2023

Bloom Energy Co. (NYSE:BE – Get Rating) CMO Sharelynn Faye Moore sold 3,963 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $25.00, for a total value of $99,075.00. Following the transaction, the chief marketing officer now owns 78,954 shares in the company, valued at approximately $1,973,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Sharelynn Faye Moore also recently made the following trade(s):

On Tuesday, January 17th, Sharelynn Faye Moore sold 26,833 shares of Bloom Energy stock. The shares were sold at an average price of $23.21, for a total value of $622,793.93.
On Wednesday, November 16th, Sharelynn Faye Moore sold 6,181 shares of Bloom Energy stock. The shares were sold at an average price of $21.46, for a total value of $132,644.26.

Bloom Energy Trading Down 1.5 %

Shares of Bloom Energy stock opened at $24.99 on Wednesday. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of -15.52 and a beta of 2.84. Bloom Energy Co. has a fifty-two week low of $11.47 and a fifty-two week high of $31.47. The company has a debt-to-equity ratio of 4.44, a quick ratio of 1.81 and a current ratio of 2.46. The stock has a 50 day moving average of $21.21 and a 200 day moving average of $21.35.

Bloom Energy (NYSE:BE – Get Rating) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.12). The business had revenue of $292.27 million during the quarter, compared to analysts’ expectations of $277.53 million. Bloom Energy had a negative return on equity of 80,741.48% and a negative net margin of 26.65%. As a group, research analysts predict that Bloom Energy Co. will post -1.15 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BE. BlackRock Inc. boosted its position in shares of Bloom Energy by 8.8% during the third quarter. BlackRock Inc. now owns 20,925,333 shares of the company’s stock worth $418,298,000 after buying an additional 1,699,072 shares during the period. Vanguard Group Inc. boosted its position in shares of Bloom Energy by 12.8% during the third quarter. Vanguard Group Inc. now owns 16,259,631 shares of the company’s stock worth $325,030,000 after buying an additional 1,842,320 shares during the period. State Street Corp boosted its position in shares of Bloom Energy by 12.0% during the third quarter. State Street Corp now owns 4,221,843 shares of the company’s stock worth $84,395,000 after buying an additional 451,501 shares during the period. Clearbridge Investments LLC boosted its position in shares of Bloom Energy by 1.0% during the second quarter. Clearbridge Investments LLC now owns 3,878,130 shares of the company’s stock worth $63,989,000 after buying an additional 37,418 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Bloom Energy by 311.2% during the third quarter. Two Sigma Investments LP now owns 2,169,510 shares of the company’s stock worth $43,369,000 after buying an additional 1,641,938 shares during the period. 79.55% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BE has been the subject of a number of research analyst reports. Wells Fargo & Company cut Bloom Energy from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $27.00 to $22.00 in a report on Friday, January 6th. Truist Financial reduced their target price on Bloom Energy from $31.00 to $20.00 and set a “hold” rating for the company in a report on Tuesday, October 18th. UBS Group initiated coverage on Bloom Energy in a report on Tuesday, December 13th. They set a “buy” rating and a $35.00 target price for the company. JPMorgan Chase & Co. reduced their target price on Bloom Energy from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. Finally, BMO Capital Markets cut their price target on Bloom Energy from $24.00 to $23.00 and set a “market perform” rating for the company in a report on Friday, November 4th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $29.93.

About Bloom Energy

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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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.