Bloom Energy (NYSE:BE) Director Sells $1,795,880.04 in Stock

Bloom Energy Corporation (NYSE:BE) Director John Chambers sold 8,828 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $203.43, for a total transaction of $1,795,880.04. Following the completion of the sale, the director directly owned 199,505 shares in the company, valued at approximately $40,585,302.15. The trade was a 4.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bloom Energy Price Performance

Shares of BE opened at $167.51 on Friday. The business’s 50-day moving average is $246.89 and its two-hundred day moving average is $220.87. The company has a market capitalization of $49.53 billion, a P/E ratio of 102.77, a P/E/G ratio of 2.02 and a beta of 3.63. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.08 and a current ratio of 3.74. Bloom Energy Corporation has a fifty-two week low of $75.70 and a fifty-two week high of $351.28.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.25. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.07 billion. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The company’s revenue was up 138.1% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. Research analysts predict that Bloom Energy Corporation will post 2.61 earnings per share for the current year.

Key Stories Impacting Bloom Energy

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom Energy and NTT DATA agreed to deploy up to 900 megawatts of onsite power across multiple data-center projects worldwide, reinforcing demand for Bloom’s fuel cells. NTT DATA agreement with Bloom Energy
• Positive Sentiment: Recent results and guidance remain strong: third-quarter revenue rose 138% year over year to $1.24 billion, earnings beat estimates, and Bloom raised its full-year revenue outlook to $4.4 billion–$4.6 billion. Bloom Energy raises full-year outlook
• Positive Sentiment: Barclays upgraded BE to Overweight, citing demand for reliable onsite power, including from data centers. Barclays upgrade and Bloom demand trends
• Neutral Sentiment: Director Barbara J. Burger sold 2,333 shares, about 6% of her holdings, while director John Chambers also recently disclosed a share sale. Insider sales can attract attention, though both directors retained substantial stakes. SEC filing for Barbara J. Burger transaction
• Negative Sentiment: Investors are concerned that political or regulatory changes after the midterms could slow AI data-center construction and its associated power demand. The broader concern hit fuel-cell and AI-related stocks, despite Bloom’s NTT DATA deal. Bloom Energy slides amid AI data-center concerns
• Negative Sentiment: Some analysts have warned that negative AI-sector sentiment and questions about future growth and margins could pressure the shares; BE’s high valuation may leave it particularly sensitive to shifts in expectations. Analyst downgrades Bloom Energy to Hold

Analysts Set New Price Targets

Several brokerages recently weighed in on BE. Evercore reiterated an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 26th. Morgan Stanley boosted their price target on Bloom Energy from $310.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, October 23rd. TD Cowen upgraded Bloom Energy to a “hold” rating in a research report on Monday, October 5th. Robert W. Baird raised their price objective on shares of Bloom Energy from $310.00 to $351.00 and gave the stock an “outperform” rating in a research note on Thursday, October 15th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $242.00 price objective on shares of Bloom Energy in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $263.05.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Jennison Associates LLC raised its holdings in Bloom Energy by 20,074.4% in the 1st quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock valued at $364,066,000 after acquiring an additional 2,673,710 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Bloom Energy in the 2nd quarter worth approximately $296,413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Bloom Energy by 78.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock worth $401,849,000 after purchasing an additional 583,135 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Bloom Energy during the 3rd quarter worth approximately $158,620,000. Finally, Bessemer Group Inc. boosted its holdings in shares of Bloom Energy by 228.0% during the 1st quarter. Bessemer Group Inc. now owns 587,947 shares of the company’s stock worth $79,660,000 after purchasing an additional 408,687 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Company Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.