Shawn Marie Soderberg, Chief Legal Officer and Corporate Secretary of Bloom Energy Corp (NYSE:BE), a $5.5 billion market cap clean energy company whose stock has surged 109% over the past year, has disclosed the sale of company stock, according to a recent SEC filing. Soderberg sold 1,639 shares of Bloom Energy’s Class A common stock on January 16, 2025, at an average price of $23.42 per share, totaling approximately $38,385.
This transaction was conducted to cover tax withholding obligations incurred upon the settlement of restricted stock units (RSUs), as part of a Rule 10b5-1 trading plan. Following this sale, Soderberg retains direct ownership of 171,040 shares. Additionally, she holds 396,731 shares indirectly through The Shawn M. Soderberg 2005 Trust. According to InvestingPro, Bloom Energy shows high price volatility and maintains strong liquidity with a current ratio of 3.36.
In a related transaction on January 15, 2025, Soderberg acquired 4,118 shares through the settlement of RSUs, which did not involve any monetary exchange. Investors should note that Bloom Energy is scheduled to report its next earnings on February 6, 2025. For deeper insights into BE’s valuation and growth prospects, check out the comprehensive analysis available on InvestingPro.
In other recent news, Bloom Energy has been the subject of multiple significant developments. The company reported third-quarter revenues of $330 million and EBITDA of $21 million, while also securing three new orders, including an 80-megawatt project in South Korea. Notably, Bloom Energy announced a substantial supply agreement with American Electric Power (NASDAQ:AEP), marking the world’s largest commercial procurement of fuel cells. This deal involves an initial order of 100 megawatts of fuel cells, with expectations for additional orders in 2025.
Several analyst firms have responded to these developments. Baird maintained an Outperform rating on Bloom Energy and raised the price target to $32. Roth/MKM initiated coverage on Bloom Energy with a Neutral rating, while BofA Securities lifted its price target for Bloom Energy to $20.00, maintaining an Underperform rating. RBC Capital Markets reiterated an Outperform rating and raised its price target to $28.00. UBS also maintained a Buy rating and increased its price target from $21.00 to $33.00. However, HSBC shifted its rating from Buy to Hold, citing manufacturing capacity and financial considerations, but forecasted positive free cash flow for Bloom Energy in 2026. These are among the recent developments for Bloom Energy.
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