Bloom Energy Corporation (NYSE:BE) Insider Sells $211,163.20 in Stock

Bloom Energy Corporation (NYSE:BE) insider Aman Joshi sold 4,870 shares for $211,163.20, reducing his ownership by 2.12%. Another insider, Satish Chitoori, sold 20,000 shares for $900,000, decreasing his stake by 7.86%. The company reported a strong quarterly performance with $0.10 EPS and $401.24 million in revenue, exceeding expectations. Analysts have raised target prices for the stock, with a consensus rating of "Moderate Buy". The stock opened at $45.32, with a market cap of $10.60 billion and a 52-week range of $9.02 to $47.21.

Key Points

Satish Chitoori, insider at Bloom Energy, sold 20,000 shares for a total of $900,000, reducing his ownership by 7.86%.
Bloom Energy had a strong quarterly performance, reporting a $0.10 EPS and revenue of $401.24 million, surpassing analyst expectations.
The stock has seen significant increases in target prices from several analysts, ranging from $20 to $41, with a consensus rating of "Moderate Buy."

Bloom Energy Corporation (NYSE:BE - Get Free Report) insider Aman Joshi sold 4,870 shares of the company's stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $43.36, for a total value of $211,163.20. Following the sale, the insider owned 224,361 shares of the company's stock, valued at $9,728,292.96. This represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bloom Energy Trading Up 0.5%

How AEP Became a Critical AI Infrastructure Play

Shares of NYSE BE opened at $45.32 on Friday. The stock has a market capitalization of $10.60 billion, a P/E ratio of 1,133.28 and a beta of 3.28. Bloom Energy Corporation has a 52-week low of $9.02 and a 52-week high of $47.21. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The stock's 50 day moving average price is $28.57 and its two-hundred day moving average price is $23.53.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%. The business had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. During the same quarter last year, the business posted ($0.06) EPS. The business's revenue was up 19.5% on a year-over-year basis. On average, analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Why Bloom Energy Stock Could Break to New Highs

Several brokerages have commented on BE. Morgan Stanley upped their price target on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Piper Sandler decreased their target price on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Wells Fargo & Company upped their target price on Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a research report on Friday, August 1st. Mizuho upped their target price on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Monday, July 14th. Finally, UBS Group upped their target price on Bloom Energy from $29.00 to $41.00 and gave the stock a "buy" rating in a research report on Friday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.39.

Read Our Latest Report on Bloom Energy

Institutional Trading of Bloom Energy

The Reason Analysts Are Bullish on Bloom Energy Stock

Large investors have recently added to or reduced their stakes in the business. Banque Transatlantique SA increased its position in shares of Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after purchasing an additional 1,161 shares during the period. Harbour Investments Inc. boosted its stake in shares of Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after acquiring an additional 1,512 shares in the last quarter. Quarry LP bought a new stake in shares of Bloom Energy during the 4th quarter worth $35,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Bloom Energy during the 2nd quarter worth $36,000. Finally, NewEdge Advisors LLC boosted its stake in shares of Bloom Energy by 674.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after acquiring an additional 1,626 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Company Profile

(Get Free Report)

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.