Satish Chitoori Sells 1,020 Shares of Bloom Energy Co. (NYSE:BE) Stock

Bloom Energy Co. (NYSE:BE) insider Satish Chitoori sold 1,020 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Bloom Energy Price Performance

BE stock opened at $24.36 on Thursday. The firm has a 50 day moving average of $24.08 and a 200-day moving average of $19.18. 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 $9.02 and a 12 month high of $29.83. The firm has a market capitalization of $5.61 billion, a P/E ratio of -43.50 and a beta of 3.30.

Analyst Ratings Changes

Several brokerages have recently commented on BE. BTIG Research increased their target price on shares of Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. Jefferies Financial Group increased their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, HSBC lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a research report on Wednesday, November 20th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average price target of $24.67.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of BE. Norges Bank bought a new position in shares of Bloom Energy in the fourth quarter valued at approximately $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Bloom Energy in the fourth quarter valued at approximately $61,968,000. Elemental Capital Partners LLC purchased a new stake in Bloom Energy in the fourth quarter valued at approximately $33,612,000. Trivest Advisors Ltd purchased a new stake in Bloom Energy in the fourth quarter valued at approximately $30,539,000. Finally, Voloridge Investment Management LLC raised its stake in Bloom Energy by 323.6% in the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company’s stock valued at $31,992,000 after purchasing an additional 1,100,352 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors.

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.