Bloom Energy Target of Unusually Large Options Trading (NYSE:BE)

Bloom Energy Co. (NYSE:BE) was the recipient of unusually large options trading on Thursday. Stock investors purchased 24,602 call options on the stock. This is an increase of approximately 35% compared to the typical volume of 18,255 call options.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the transaction, the insider now owns 178,656 shares in the company, valued at approximately $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of BE. Millburn Ridgefield Corp grew its position in shares of Bloom Energy by 29.2% during 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 in the last quarter. GAMMA Investing LLC lifted its stake in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the last quarter. Arizona State Retirement System increased its position in shares of Bloom Energy by 1.3% during the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after acquiring an additional 759 shares during the period. Jones Financial Companies Lllp increased its position in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after acquiring an additional 812 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in shares of Bloom Energy by 291.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares during the period. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Trading Down 5.9 %

NYSE:BE opened at $23.90 on Friday. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of -42.68 and a beta of 3.30. Bloom Energy has a one year low of $9.02 and a one year high of $29.83. The business has a fifty day moving average price of $24.10 and a 200-day moving average price of $19.30.

Analyst Ratings Changes

A number of brokerages recently issued reports on BE. Bank of America reduced their price target on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Roth Mkm assumed coverage on Bloom Energy in a report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. Truist Financial upped their target price on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. TD Cowen upped their target price on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a report on Friday, February 28th. Finally, BTIG Research upped their target price on Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.06.

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.