Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar Sells 72,903 Shares of Stock

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Friday, November 22nd, Kr Sridhar sold 46,697 shares of Bloom Energy stock. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00.

Bloom Energy Trading Up 7.6 %

Shares of BE stock opened at $25.77 on Friday. Bloom Energy Co. has a 1-year low of $8.41 and a 1-year high of $26.26. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The business’s fifty day moving average price is $11.91 and its 200 day moving average price is $12.61.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. BMO Capital Markets lifted their price objective on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. Robert W. Baird decreased their price objective on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating for the company in a research report on Friday, November 8th. Piper Sandler increased their target price on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial lowered their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research report on Wednesday, October 16th. Finally, Susquehanna boosted their target price on Bloom Energy from $13.00 to $16.00 and gave the stock a “positive” rating in a research note on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average price target of $18.66.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Bloom Energy by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after acquiring an additional 156,434 shares during the last quarter. Electron Capital Partners LLC lifted its stake in Bloom Energy by 131.5% in the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after buying an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP increased its position in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after buying an additional 733,363 shares in the last quarter. DigitalBridge Group Inc. raised its holdings in shares of Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after acquiring an additional 462,581 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in shares of Bloom Energy by 48.6% during the second quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after acquiring an additional 284,298 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.