Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar Sells 46,697 Shares

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. This represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Kr Sridhar also recently made the following trade(s):

• On Wednesday, November 20th, Kr Sridhar sold 72,903 shares of Bloom Energy stock. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06.

Bloom Energy Stock Up 7.6 %

BE traded up $1.82 during trading hours on Friday, hitting $25.77. 10,571,341 shares of the company’s stock were exchanged, compared to its average volume of 6,503,440. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $26.26. The firm has a market cap of $5.89 billion, a P/E ratio of -46.00 and a beta of 2.71. The firm has a 50 day moving average of $11.91 and a 200 day moving average of $12.61.

Analyst Ratings Changes

BE has been the topic of a number of recent research reports. HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a research report on Wednesday. BTIG Research upped their price target on Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group lifted their price objective on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday. Piper Sandler upped their target price on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday. Finally, UBS Group reduced their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average price target of $18.66.

Institutional Trading of Bloom Energy

Several hedge funds have recently modified their holdings of BE. Electron Capital Partners LLC lifted its stake in Bloom Energy by 131.5% in the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after acquiring an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP raised its holdings in shares of Bloom Energy by 50.0% in the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after purchasing an additional 733,363 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Bloom Energy during the 2nd quarter worth $7,502,000. DigitalBridge Group Inc. grew its stake in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Finally, Pier Capital LLC purchased a new position in Bloom Energy in the second quarter valued at $5,602,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.