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

On Monday, March 17th, Satish Chitoori, an insider at Bloom Energy Co. (NYSE:BE), executed a transaction to sell 1,020 shares of the company's stock. The shares were sold at an average price of $25.09, resulting in a total sale value of $25,591.80. After this transaction, Chitoori now holds 178,656 shares, which are valued at around $4,482,479.04. This sale reflects a decrease of 0.57% in Chitoori's ownership stake in Bloom Energy. The details of this transaction have been reported in a filing with the SEC (Securities and Exchange Commission), which is accessible through the SEC's website.

Bloom Energy Stock Performance

As of Wednesday, Bloom Energy stock opened at $23.88. The fifty-day simple moving average for the stock is $24.08, while the two-hundred-day simple moving average is $19.14. The company boasts a current ratio of 3.36 and a quick ratio of 2.33, alongside a debt-to-equity ratio of 3.09. Throughout the past year, Bloom Energy has experienced a low of $9.02 and a high of $29.83, with the current market capitalization standing at approximately $5.50 billion. The stock's P/E ratio is noted at -42.64, with a beta of 3.30.

Research Ratings and Analyst Insights

Recently, Bloom Energy has been the focus of various research analyses. Truist Financial raised its price target for Bloom Energy from $11.00 to $22.00 and assigned a 'hold' rating as of January 16th. BTIG Research also revised its price target upward from $20.00 to $30.00, awarding a 'buy' rating in December. In a separate analysis, Robert W. Baird increased its price target for the company from $15.00 to $32.00, signifying an 'outperform' rating. Additionally, TD Cowen elevated their target price from $13.00 to $20.00, preserving a 'hold' rating, while UBS Group reached a target of $33.00 with a 'buy' designation. Overall, one analyst has issued a sell rating, eleven have given a hold rating, eight have rated it as a buy, and one has marked it as a strong buy, leading to a consensus rating of 'Hold' with an average price target of $24.67.

Institutional Activity in Bloom Energy

Numerous institutional investors have either bought or sold shares of Bloom Energy recently. SPX Gestão de Recursos Ltda acquired a new position during the fourth quarter valued at $4,442,000. Likewise, Duff & Phelps Investment Management Co. also invested in the company during the third quarter, spending around $517,000. Mirae Asset Global Investments Co. Ltd. significantly increased its stake by 184.7% in the fourth quarter, now holding 404,204 shares worth $9,209,000 following the acquisition of an additional 262,247 shares. Edgestream Partners L.P. added a new position in Bloom Energy amounting to approximately $3,274,000. Moreover, Charles Schwab Investment Management Inc. raised its holding by 0.6% during the fourth quarter, maintaining 1,654,087 shares valued at $36,737,000. Presently, institutional investors control around 77.04% of Bloom Energy's shares.

Overview of Bloom Energy Corporation

Bloom Energy Corporation engages in designing, manufacturing, and selling solid-oxide fuel cell systems for on-site power generation, both in the United States and internationally. Their flagship product, the Bloom Energy Server, utilizes solid oxide technology to convert various fuels, including natural gas, biogas, and hydrogen, into electricity through an electrochemical process that avoids combustion.

Related Information

For further insights into Bloom Energy's market performance and investment potential, various sources and financial analyses are available.

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