Stock Traders Buy High Volume of Bloom Energy Call Options (NYSE:BE)

kopsource · Aug 11, 2022 00:21

Bloom Energy Co. (NYSE:BE – Get Rating) was the target of some unusual options trading activity on Wednesday. Traders purchased 3,705 call options on the stock. This represents an increase of 38% compared to the average daily volume of 2,686 call options.

Insider Activity

In related news, EVP Shawn Marie Soderberg sold 3,095 shares of the stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $17.14, for a total transaction of $53,048.30. Following the completion of the sale, the executive vice president now directly owns 354,623 shares of the company's stock, valued at $6,078,238.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Guillermo Brooks sold 5,860 shares of the company's stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $17.03, for a total value of $99,795.80. Following the completion of the sale, the executive vice president now owns 19,140 shares in the company, valued at approximately $325,954.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Shawn Marie Soderberg sold 3,095 shares of the company's stock in a transaction that occurred on Friday, June 17th. The shares were sold at an average price of $17.14, for a total transaction of $53,048.30. Following the completion of the sale, the executive vice president now owns 354,623 shares of the company's stock, valued at approximately $6,078,238.22. The disclosure for this sale can be found here. Insiders sold 22,934 shares of company stock worth $381,721 over the last three months. Corporate insiders own 2.78% of the company's stock.

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Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BE. BlackRock Inc. lifted its position in shares of Bloom Energy by 1.6% in the first quarter. BlackRock Inc. now owns 15,892,456 shares of the company's stock worth $383,803,000 after purchasing an additional 251,745 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Bloom Energy by 21.7% in the first quarter. Clearbridge Investments LLC now owns 3,840,712 shares of the company's stock worth $92,753,000 after purchasing an additional 685,213 shares in the last quarter. State Street Corp lifted its position in shares of Bloom Energy by 2.5% in the first quarter. State Street Corp now owns 3,035,648 shares of the company's stock worth $73,311,000 after purchasing an additional 72,943 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Bloom Energy by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 2,426,156 shares of the company's stock worth $53,205,000 after purchasing an additional 77,018 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Bloom Energy by 2.3% in the fourth quarter. Northern Trust Corp now owns 1,577,496 shares of the company's stock worth $34,595,000 after purchasing an additional 35,273 shares in the last quarter. Institutional investors own 65.68% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Truist Financial increased their price target on shares of Bloom Energy to $19.00 in a research note on Friday, May 27th. JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $29.00 to $31.00 and gave the stock an "overweight" rating in a research note on Monday. Northland Securities assumed coverage on shares of Bloom Energy in a research note on Friday, July 8th. They set an "outperform" rating and a $28.00 price target on the stock. Susquehanna increased their price target on shares of Bloom Energy from $28.00 to $30.00 and gave the stock a "positive" rating in a research note on Wednesday. Finally, Raymond James dropped their price target on shares of Bloom Energy from $27.00 to $23.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, July 12th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $25.75.

Bloom Energy Stock Up 14.0 %

NYSE BE traded up $3.47 during trading on Wednesday, reaching $28.23. 140,623 shares of the stock traded hands, compared to its average volume of 3,424,839. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of -21.77 and a beta of 3.19. The stock's 50-day moving average price is $18.22 and its 200 day moving average price is $18.97. Bloom Energy has a fifty-two week low of $11.47 and a fifty-two week high of $37.01.

Bloom Energy (NYSE:BE – Get Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.20) earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of ($0.20). The firm had revenue of $243.24 million during the quarter, compared to analysts' expectations of $228.30 million. Bloom Energy had a negative net margin of 22.25% and a negative return on equity of 738.94%. The business's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.34) earnings per share. Analysts anticipate that Bloom Energy will post -0.96 EPS for the current fiscal year.

About Bloom Energy

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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 power generation platform that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels, into electricity through an electrochemical process without combustion.