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

Bloom Energy Corp (NYSE:BE) was the target of some unusual options trading on Tuesday. Investors acquired 13,425 call options on the stock. This is an increase of 400% compared to the typical volume of 2,685 call options.

NYSE:BE traded up $2.17 during mid-day trading on Tuesday, reaching $10.39. 287,953 shares of the company’s stock traded hands, compared to its average volume of 3,325,511. The company has a 50 day moving average price of $8.42 and a 200-day moving average price of $7.96. The firm has a market capitalization of $973.78 million, a price-to-earnings ratio of -4.89 and a beta of 3.19. Bloom Energy has a 12-month low of $2.44 and a 12-month high of $14.51.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.34) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.65) by $0.31. The business had revenue of $156.70 million for the quarter, compared to analysts’ expectations of $152.45 million. Bloom Energy had a negative return on equity of 1,384.87% and a negative net margin of 28.37%. The business’s revenue was down 22.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) EPS. On average, research analysts expect that Bloom Energy will post -1.93 earnings per share for the current fiscal year.

BE has been the subject of several research analyst reports. ValuEngine lowered Bloom Energy from a “strong-buy” rating to a “buy” rating in a research note on Thursday, April 23rd. Zacks Investment Research raised Bloom Energy from a “hold” rating to a “strong-buy” rating and set a $9.50 price objective for the company in a research note on Tuesday, May 19th. JPMorgan Chase & Co. raised their price target on Bloom Energy from $14.00 to $17.00 and gave the company an “overweight” rating in a research report on Thursday, May 28th. Finally, Morgan Stanley raised their price target on Bloom Energy from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, June 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Bloom Energy has a consensus rating of “Buy” and a consensus target price of $10.79.

In other news, COO Susan Seilheimer Brennan sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $8.25, for a total value of $82,500.00. Following the completion of the transaction, the chief operating officer now directly owns 120,854 shares of the company’s stock, valued at $997,045.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Christopher White sold 22,755 shares of the firm’s stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $9.25, for a total value of $210,483.75. Following the completion of the transaction, the executive vice president now directly owns 307,245 shares of the company’s stock, valued at $2,842,016.25. The disclosure for this sale can be found here. 26.82% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Mine & Arao Wealth Creation & Management LLC. bought a new stake in Bloom Energy during the 4th quarter valued at approximately $26,000. Great West Life Assurance Co. Can bought a new stake in Bloom Energy during the 4th quarter valued at approximately $27,000. Gradient Investments LLC bought a new stake in shares of Bloom Energy in the 1st quarter worth approximately $28,000. Verus Capital Partners LLC bought a new stake in shares of Bloom Energy in the 4th quarter worth approximately $51,000. Finally, Rockefeller Capital Management L.P. boosted its position in shares of Bloom Energy by 454.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 10,003 shares of the company’s stock worth $52,000 after purchasing an additional 8,200 shares in the last quarter. 40.19% of the stock is currently owned by institutional investors and hedge funds.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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