Bloom Energy Co. (NYSE:BE) Director Eddy Zervigon Sells 22,797 Shares

Posted by Defense World Staff on Mar 1st, 2023

Bloom Energy Co. (NYSE:BE – Get Rating) Director Eddy Zervigon sold 22,797 shares of Bloom Energy stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $21.57, for a total transaction of $491,731.29. Following the completion of the transaction, the director now owns 124,808 shares of the company’s stock, valued at approximately $2,692,108.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Bloom Energy Price Performance

Shares of NYSE BE opened at $21.69 on Wednesday. The firm has a market capitalization of $4.23 billion, a P/E ratio of -13.15 and a beta of 2.88. Bloom Energy Co. has a one year low of $11.47 and a one year high of $31.47. The company’s fifty day moving average is $22.37 and its two-hundred day moving average is $21.97. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.45 and a current ratio of 1.95.

Bloom Energy (NYSE:BE – Get Rating) last issued its earnings results on Thursday, February 9th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $462.60 million for the quarter, compared to analysts’ expectations of $398.36 million. Bloom Energy had a negative return on equity of 194.49% and a negative net margin of 25.14%. Bloom Energy’s revenue for the quarter was up 35.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. Analysts forecast that Bloom Energy Co. will post -0.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BE shares. JPMorgan Chase & Co. cut shares of Bloom Energy from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $29.00 to $27.00 in a report on Friday, February 10th. Wells Fargo & Company raised their price objective on shares of Bloom Energy from $22.00 to $24.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 14th. Credit Suisse Group reissued an “outperform” rating and set a $32.00 price objective on shares of Bloom Energy in a report on Monday, February 13th. Morgan Stanley raised shares of Bloom Energy from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $37.00 to $35.00 in a report on Tuesday, January 10th. Finally, TheStreet raised shares of Bloom Energy from a “d” rating to a “c-” rating in a report on Thursday, February 9th. Five research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy presently has an average rating of “Moderate Buy” and a consensus price target of $30.40.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC boosted its position in shares of Bloom Energy by 291.6% in the 4th quarter. Voya Investment Management LLC now owns 730,848 shares of the company’s stock worth $13,974,000 after buying an additional 544,221 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in Bloom Energy by 11.5% in the 4th quarter. Alliancebernstein L.P. now owns 228,522 shares of the company’s stock valued at $4,369,000 after purchasing an additional 23,509 shares in the last quarter. Harbour Investments Inc. lifted its holdings in Bloom Energy by 9,109.1% in the 4th quarter. Harbour Investments Inc. now owns 10,130 shares of the company’s stock valued at $194,000 after purchasing an additional 10,020 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Bloom Energy by 4.7% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 11,110 shares of the company’s stock valued at $212,000 after purchasing an additional 502 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Bloom Energy by 2.9% in the 4th quarter. MetLife Investment Management LLC now owns 94,208 shares of the company’s stock valued at $1,801,000 after purchasing an additional 2,654 shares in the last quarter. 79.55% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

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Bloom Energy Corp. engages in the manufacture and installation of on-site distributed power generators. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K. R. Sridhar, John Finn, Jim McElroy, Matthias Gottmann and Dien Nguyen on January 18, 2001 and is headquartered in San Jose, CA.