Bloom Energy (NYSE:BE) Shares Down 14.3% – Here’s Why

Bloom Energy Corporation (NYSE:BE)’s share price traded down 14.3% during mid-day trading on Thursday . The stock traded as low as $92.36 and last traded at $93.3690. 20,021,863 shares changed hands during trading, an increase of 114% from the average session volume of 9,346,177 shares. The stock had previously closed at $108.93.

Analyst Ratings Changes

BE has been the topic of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a $123.00 target price on shares of Bloom Energy in a report on Monday, October 20th. Robert W. Baird set a $157.00 price objective on Bloom Energy in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price objective on Bloom Energy to $129.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 29th. BMO Capital Markets set a $136.00 target price on shares of Bloom Energy in a research note on Wednesday, October 29th. Finally, Morgan Stanley lifted their price target on shares of Bloom Energy to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $95.65.

Bloom Energy Stock Performance

The company has a market cap of $22.08 billion, a PE ratio of 583.17, a P/E/G ratio of 59.15 and a beta of 3.43. The stock’s 50 day simple moving average is $101.38 and its two-hundred day simple moving average is $55.22. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $508.69 million during the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Maciej Kurzymski sold 13,105 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total value of $1,888,299.45. Following the transaction, the insider owned 93,269 shares in the company, valued at approximately $13,439,130.21. This trade represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Jim H. Snabe sold 20,000 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total transaction of $2,860,800.00. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 341,544 shares of company stock worth $27,784,169. Corporate insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Bloom Energy by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 20,807,920 shares of the company’s stock valued at $1,759,726,000 after purchasing an additional 1,240,819 shares in the last quarter. Graticule Asia Macro Advisors LLC purchased a new stake in shares of Bloom Energy in the third quarter worth about $402,494,000. Geode Capital Management LLC grew its stake in shares of Bloom Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company’s stock valued at $113,790,000 after buying an additional 95,990 shares in the last quarter. Public Investment Fund raised its holdings in shares of Bloom Energy by 16.8% during the 1st quarter. Public Investment Fund now owns 3,803,770 shares of the company’s stock valued at $74,782,000 after buying an additional 546,372 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its position in Bloom Energy by 29.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company’s stock worth $71,010,000 after acquiring an additional 821,814 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

About Bloom Energy

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.