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

Bloom Energy Co. (NYSE:BE) CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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

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

Bloom Energy Stock Performance

BE opened at $25.76 on Friday. 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 stock has a market cap of $5.89 billion, a price-to-earnings ratio of -46.00 and a beta of 2.71. Bloom Energy Co. has a 12-month low of $8.41 and a 12-month high of $26.26. The business has a 50 day moving average of $12.22 and a 200-day moving average of $12.71.

Hedge Funds Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millburn Ridgefield Corp grew its position in shares of Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. ORG Partners LLC acquired a new position in Bloom Energy in the 2nd quarter valued at $40,000. Quest Partners LLC increased its position in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after buying an additional 3,475 shares during the period. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Bloom Energy during the second quarter worth $53,000. Finally, Mather Group LLC. bought a new stake in shares of Bloom Energy in the second quarter valued at about $66,000. 77.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

BE has been the topic of several research analyst reports. Truist Financial dropped their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. BTIG Research boosted their price objective on shares of Bloom Energy from $16.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Jefferies Financial Group increased their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday. Robert W. Baird cut their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. Finally, Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and an average target price of $18.66.

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.