Insider Selling: Bloom Energy Corp (BE) Major Shareholder Sells 178,429 Shares of Stock

Bloom Energy Corp (NYSE:BE) major shareholder Majesty The Queen In Right Her sold 178,429 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $14.62, for a total transaction of $2,608,631.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

BE opened at $12.53 on Friday. The company has a market cap of $1.45 billion and a PE ratio of -5.16. The company has a current ratio of 2.57, a quick ratio of 2.07 and a debt-to-equity ratio of 6.76. Bloom Energy Corp has a twelve month low of $8.88 and a twelve month high of $38.00.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Tuesday, February 5th. The company reported ($0.92) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.86) by ($0.06). The firm had revenue of $213.61 million during the quarter, compared to the consensus estimate of $205.23 million. As a group, analysts anticipate that Bloom Energy Corp will post -2.43 earnings per share for the current year.

A number of equities analysts have issued reports on BE shares. Raymond James set a $13.00 target price on shares of Bloom Energy and gave the stock a “buy” rating in a report on Thursday, March 7th. ValuEngine raised shares of Bloom Energy from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Zacks Investment Research raised shares of Bloom Energy from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, Credit Suisse Group raised Bloom Energy from a “neutral” rating to an “outperform” rating and set a $10.06 price target on the stock in a report on Wednesday, February 6th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the stock. Bloom Energy presently has an average rating of “Hold” and a consensus target price of $21.63.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $108,000. PNC Financial Services Group Inc. bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $116,000. NumerixS Investment Technologies Inc bought a new stake in shares of Bloom Energy during the fourth quarter valued at approximately $40,000. Barclays PLC raised its holdings in shares of Bloom Energy by 4,865.0% during the fourth quarter. Barclays PLC now owns 4,965 shares of the company’s stock valued at $50,000 after buying an additional 4,865 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $303,000. 19.53% of the stock is currently owned by institutional investors.

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About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems. It offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was formerly known as Ion America Corp.

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