Bloom Energy Sees Unusually High Options Volume (NYSE:BE)

by · The Cerbat Gem

Bloom Energy Co. (NYSE:BE – Get Free Report) was the recipient of unusually large options trading on Thursday. Investors purchased 24,602 call options on the stock. This represents an increase of 35% compared to the average volume of 18,255 call options.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on BE. Jefferies Financial Group boosted their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Robert W. Baird upped their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Truist Financial lifted their price target on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a report on Wednesday, November 20th. Finally, Bank of America cut their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of “Hold” and a consensus target price of $25.06.

Read Our Latest Report on Bloom Energy

Bloom Energy Price Performance

BE stock traded up $1.45 on Thursday, hitting $25.76. 7,333,434 shares of the company’s stock traded hands, compared to its average volume of 6,617,358. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock has a market cap of $5.94 billion, a price-to-earnings ratio of -46.00 and a beta of 3.30. Bloom Energy has a 1-year low of $9.02 and a 1-year high of $29.83. The stock has a fifty day moving average of $24.08 and a 200-day moving average of $19.18.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the sale, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently modified their holdings of BE. 111 Capital purchased a new stake in shares of Bloom Energy during the fourth quarter valued at $278,000. Mackenzie Financial Corp boosted its holdings in shares of Bloom Energy by 1.7% in the fourth quarter. Mackenzie Financial Corp now owns 63,372 shares of the company’s stock worth $1,407,000 after buying an additional 1,035 shares during the period. DigitalBridge Group Inc. increased its position in shares of Bloom Energy by 5.7% in the fourth quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company’s stock worth $31,499,000 after acquiring an additional 75,974 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Bloom Energy in the fourth quarter worth approximately $3,834,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Bloom Energy in the 4th quarter valued at approximately $49,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

About Bloom Energy

(Get Free Report)

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.

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