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

Bloom Energy Co. (NYSE:BE – Get Rating) was the recipient of unusually large options trading on Thursday. Traders acquired 7,865 put options on the stock. This represents an increase of approximately 127% compared to the typical volume of 3,464 put options.

Bloom Energy Stock Down 3.9 %

Bloom Energy stock opened at $12.72 on Friday. The company has a debt-to-equity ratio of 2.18, a current ratio of 1.95 and a quick ratio of 1.45. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of -7.71 and a beta of 2.85. Bloom Energy has a 1-year low of $12.33 and a 1-year high of $31.47. The business has a fifty day moving average price of $18.12 and a 200-day moving average price of $20.38.

Bloom Energy (NYSE:BE – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $462.60 million during the quarter, compared to analysts’ expectations of $398.36 million. Bloom Energy had a negative net margin of 25.14% and a negative return on equity of 194.49%. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.16) earnings per share. Equities research analysts forecast that Bloom Energy will post -0.71 EPS for the current fiscal year.

Insider Transactions at Bloom Energy

In other news, EVP Shawn Marie Soderberg sold 9,348 shares of the firm’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $18.54, for a total transaction of $173,311.92. Following the sale, the executive vice president now owns 469,631 shares of the company’s stock, valued at approximately $8,706,958.74. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Sharelynn Faye Moore sold 2,016 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $18.52, for a total transaction of $37,336.32. Following the completion of the sale, the insider now owns 162,175 shares of the company’s stock, valued at approximately $3,003,481. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Shawn Marie Soderberg sold 9,348 shares of the business’s stock in a transaction on Monday, April 17th. The shares were sold at an average price of $18.54, for a total transaction of $173,311.92. Following the sale, the executive vice president now directly owns 469,631 shares of the company’s stock, valued at approximately $8,706,958.74. The disclosure for this sale can be found here. Insiders sold 313,461 shares of company stock worth $6,163,328 over the last quarter. 2.78% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its position in Bloom Energy by 13.0% in the first quarter. Bank of New York Mellon Corp now owns 566,033 shares of the company’s stock valued at $13,669,000 after buying an additional 64,919 shares during the last quarter. AlphaCrest Capital Management LLC purchased a new position in Bloom Energy during the first quarter valued at approximately $337,000. Bank of Montreal Can raised its position in Bloom Energy by 8.1% during the first quarter. Bank of Montreal Can now owns 63,498 shares of the company’s stock valued at $1,559,000 after acquiring an additional 4,781 shares in the last quarter. MetLife Investment Management LLC raised its position in Bloom Energy by 53.5% during the first quarter. MetLife Investment Management LLC now owns 76,115 shares of the company’s stock valued at $1,838,000 after acquiring an additional 26,537 shares in the last quarter. Finally, Panagora Asset Management Inc. purchased a new position in Bloom Energy during the first quarter valued at approximately $1,016,000. 79.55% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BE. Wells Fargo & Company lowered their price objective on Bloom Energy from $24.00 to $20.00 in a research report on Friday. Credit Suisse Group reiterated an “outperform” rating and set a $32.00 target price on shares of Bloom Energy in a research report on Monday, February 13th. Truist Financial cut their target price on Bloom Energy from $26.00 to $20.00 in a research report on Wednesday. KeyCorp boosted their target price on Bloom Energy from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Friday, February 10th. Finally, Robert W. Baird reduced their price target on shares of Bloom Energy from $25.00 to $21.00 in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.88.

About Bloom Energy

(Get Rating)

Bloom Energy Corp. engages in the manufacture and installation of a solid oxide fuel-cell based power generation platform. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K.