Satish Chitoori Sells 1,020 Shares of Bloom Energy Co. (NYSE:BE) Stock

On March 17th, Satish Chitoori, an insider at Bloom Energy Co. (NYSE:BE), sold 1,020 shares of the company’s stock. The sale took place at an average price of $25.09 per share, bringing the total transaction value to $25,591.80. After this sale, Chitoori owns 178,656 shares in Bloom Energy, valued at approximately $4,482,479.04. This sale led to a decrease of 0.57% in Chitoori's overall ownership stake in the company. The details of this transaction were disclosed in a filing with the SEC, which is publicly available.

Performance of Bloom Energy Stock

As of Wednesday, Bloom Energy stock opened at $23.88. The stock’s fifty-day simple moving average is $24.08, while its two-hundred-day simple moving average stands at $19.14. The company has a strong financial position, reflected by a current ratio of 3.36, a quick ratio of 2.33, and a debt-to-equity ratio of 3.09. Over the past year, Bloom Energy's stock has seen a low of $9.02 and a high of $29.83, and the company currently holds a market capitalization of $5.50 billion. The stock has a negative P/E ratio of -42.64 and a beta value of 3.30, indicating a high volatility compared to the overall market.

Analyst Ratings and Price Target Changes

Recently, Bloom Energy has caught the attention of various analysts who have made updates to their ratings and price targets. Truist Financial raised their price target from $11.00 to $22.00, maintaining a "hold" rating. BTIG Research lifted their target from $20.00 to $30.00 and assigned a "buy" rating. Similarly, Robert W. Baird increased their price objective from $15.00 to $32.00 with an "outperform" rating. TD Cowen upgraded their price target to $20.00 while keeping a "hold" rating, and UBS Group set a revised target of $33.00, also issuing a "buy" rating. Overall, MarketBeat.com reports that the consensus rating for Bloom Energy is "Hold" with a consensus price target of $24.67, indicating mixed sentiments among analysts.

Institutional Investor Activity

Institutional investors have been actively participating in Bloom Energy's stock trading. SPX Gestao de Recursos Ltda acquired a new position during the fourth quarter valued at approximately $4,442,000. Meanwhile, Duff & Phelps Investment Management Co. purchased shares worth about $517,000 in the third quarter. Mirae Asset Global Investments Co. Ltd. significantly increased its stake in the company by 184.7% during the fourth quarter, acquiring an additional 262,247 shares to total 404,204 shares valued at $9,209,000. Other institutional investors, including Edgestream Partners L.P. and Charles Schwab Investment Management Inc., have also increased their positions in Bloom Energy. Overall, institutional investors hold about 77.04% of the company's stock, suggesting strong institutional support.

About Bloom Energy

Bloom Energy Corporation is engaged in designing, manufacturing, selling, and installing solid-oxide fuel cell systems, which are utilized for on-site power generation both in the United States and internationally. The company’s flagship product, the Bloom Energy Server, utilizes solid oxide technology to convert various fuels, such as natural gas, biogas, and hydrogen, into electricity through an electrochemical process, without combustion.

Bloom, Energy, Stock