Maciej Kurzymski, an insider at Bloom Energy Corporation, sold 3,264 shares of the company’s stock on December 16, 2023. The transaction, executed at an average price of $86.48 per share, totaled approximately $282,270.72. Following this sale, Kurzymski retains ownership of 90,005 shares, valued at around $7,783,632.40. This sale marks a 3.50% decline in Kurzymski’s stake in the company.
The details of the transaction were disclosed in a filing with the Securities and Exchange Commission, which can be accessed via the SEC’s website. In addition to this transaction, Kurzymski has been actively trading shares of Bloom Energy, reflecting ongoing movements within the company.
Bloom Energy’s Recent Performance and Market Activity
As of December 16, 2023, Bloom Energy’s stock opened at $88.59 on the New York Stock Exchange (NYSE:BE). Throughout the past year, the stock has experienced significant volatility, with a 52-week low of $15.15 and a 52-week high of $147.86. The company’s financial metrics show a market capitalization of $20.95 billion, a debt-to-equity ratio of 1.98, and a current ratio of 4.40.
In terms of institutional investments, several notable changes have occurred recently. Vanguard Group Inc. increased its holdings in Bloom Energy by 6.3% during the third quarter, now owning 20,807,920 shares valued at $1.76 billion. Additionally, Graticule Asia Macro Advisors LLC initiated a new position worth $402.49 million, highlighting ongoing interest from institutional investors. Approximately 77.04% of Bloom Energy’s shares are currently held by hedge funds and institutional investors.
Analyst Ratings and Future Outlook
Bloom Energy has garnered varied opinions from analysts in recent weeks. According to a report from Bank of America, the firm raised its price target for Bloom Energy shares from $26.00 to $39.00 while maintaining an “underperform” rating. In contrast, Robert W. Baird set a target price of $157.00, indicating a more optimistic outlook.
Overall, analysts have assigned a mix of ratings for Bloom Energy’s stock. One investment analyst has issued a “Strong Buy” recommendation, while ten have rated it as a “Buy.” Twelve analysts have designated the stock as a “Hold,” and three have given it a “Sell” rating. The consensus rating rests at “Hold,” with an average target price of $93.77 according to MarketBeat.com.
Bloom Energy operates as a clean energy technology company, specializing in solid oxide fuel cell systems for on-site power generation. Its primary product, the Bloom Energy Server, converts natural gas, biogas, or hydrogen into electricity, providing a low-carbon alternative to conventional grid power. The company has established itself as a key player in the transition to sustainable energy solutions, offering comprehensive services that include system installation and maintenance.
As Bloom Energy continues to navigate the evolving energy landscape, developments concerning insider trading, institutional investments, and analyst ratings will be pivotal in shaping its future trajectory.
