Bloom Energy Co. (NYSE:BE – Get Rating) was the target of some unusual options trading on Wednesday. Stock traders purchased 6,534 call options on the company. This is an increase of approximately 95% compared to the typical daily volume of 3,358 call options.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on BE shares. Wells Fargo & Company lowered Bloom Energy from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $27.00 to $22.00 in a report on Friday, January 6th. KeyCorp cut their target price on shares of Bloom Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research note on Thursday, October 20th. BMO Capital Markets reduced their target price on shares of Bloom Energy from $24.00 to $23.00 and set a "market perform" rating for the company in a report on Friday, November 4th. Morgan Stanley upgraded shares of Bloom Energy from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $37.00 to $35.00 in a research report on Tuesday, January 10th. Finally, UBS Group began coverage on Bloom Energy in a report on Tuesday, December 13th. They set a "buy" rating and a $35.00 price objective for the company. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Bloom Energy has an average rating of "Moderate Buy" and an average target price of $29.93.
Get Bloom Energy alerts:Insider Activity at Bloom Energy
In other news, CMO Sharelynn Faye Moore sold 3,963 shares of the stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $25.00, for a total value of $99,075.00. Following the completion of the sale, the chief marketing officer now owns 78,954 shares of the company's stock, valued at approximately $1,973,850. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Shawn Marie Soderberg sold 3,254 shares of Bloom Energy stock in a transaction dated Friday, December 16th. The stock was sold at an average price of $22.00, for a total transaction of $71,588.00. Following the completion of the transaction, the executive vice president now owns 348,123 shares in the company, valued at $7,658,706. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Sharelynn Faye Moore sold 3,963 shares of the company's stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $25.00, for a total value of $99,075.00. Following the completion of the sale, the chief marketing officer now owns 78,954 shares in the company, valued at approximately $1,973,850. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,387 shares of company stock valued at $1,483,766. 2.78% of the stock is owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Bloom Energy by 8.8% in the 3rd quarter. BlackRock Inc. now owns 20,925,333 shares of the company's stock valued at $418,298,000 after purchasing an additional 1,699,072 shares in the last quarter. Vanguard Group Inc. boosted its position in Bloom Energy by 12.8% in the third quarter. Vanguard Group Inc. now owns 16,259,631 shares of the company's stock valued at $325,030,000 after buying an additional 1,842,320 shares in the last quarter. State Street Corp grew its stake in shares of Bloom Energy by 12.0% during the third quarter. State Street Corp now owns 4,221,843 shares of the company's stock worth $84,395,000 after buying an additional 451,501 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Bloom Energy by 1.0% during the second quarter. Clearbridge Investments LLC now owns 3,878,130 shares of the company's stock worth $63,989,000 after buying an additional 37,418 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Bloom Energy by 311.2% during the third quarter. Two Sigma Investments LP now owns 2,169,510 shares of the company's stock worth $43,369,000 after buying an additional 1,641,938 shares in the last quarter. 79.55% of the stock is currently owned by institutional investors and hedge funds.Bloom Energy Stock Up 1.2 %
BE stock opened at $25.29 on Thursday. Bloom Energy has a 52 week low of $11.47 and a 52 week high of $31.47. The business has a 50-day simple moving average of $21.29 and a 200 day simple moving average of $21.37. The company has a quick ratio of 1.81, a current ratio of 2.46 and a debt-to-equity ratio of 4.44. The company has a market cap of $4.94 billion, a PE ratio of -15.71 and a beta of 2.84.
Bloom Energy (NYSE:BE – Get Rating) last issued its earnings results on Thursday, November 3rd. The company reported ($0.33) EPS for the quarter, missing the consensus estimate of ($0.21) by ($0.12). The firm had revenue of $292.27 million during the quarter, compared to analyst estimates of $277.53 million. Bloom Energy had a negative net margin of 26.65% and a negative return on equity of 80,741.48%. Sell-side analysts anticipate that Bloom Energy will post -1.15 EPS for the current fiscal year.
About Bloom Energy
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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.
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