Bloom Energy (NYSE:BE) Shares Down 16.4% – Here’s What Happened

Shares of Bloom Energy Corporation (NYSE:BE) dropped 16.4% on Thursday. The stock traded as low as $156.00 and last traded at $167.5080. 36,853,257 shares changed hands during trading, an increase of 175% from the average daily volume of 13,383,869 shares. The stock had previously closed at $200.40.

Key Headlines Impacting Bloom Energy

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: NTT DATA agreed to deploy up to 900 megawatts of Bloom’s onsite power across multiple data-center projects worldwide, a significant commercial opportunity tied to growing electricity needs. NTT DATA announces agreement with Bloom Energy
• Positive Sentiment: Bloom’s latest quarterly results beat estimates, with revenue up 138% year over year to $1.24 billion, and the company raised its full-year revenue outlook to $4.4 billion–$4.6 billion. Bloom Energy raises full-year outlook
• Positive Sentiment: Barclays upgraded BE to Overweight, with a $289 price target, citing demand for firm onsite power, including from data centers. Barclays upgrades Bloom Energy
• Neutral Sentiment: Analyst views are mixed: alongside Barclays’ upgrade, another recent analysis downgraded Bloom to Hold and set a $176 target, pointing to questions about future growth and margin gains. Bloom Energy downgraded to Hold
• Negative Sentiment: Fuel-cell and AI-related stocks sold off broadly after the midterm elections. Coverage cited investor fears that federal policy changes could slow AI data-center investment and power demand, weighing on BE even as the NTT deal was announced. Market concerns weigh on AI and fuel-cell stocks

Analyst Ratings Changes

Several equities research analysts recently issued reports on BE shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $335.00 price target on shares of Bloom Energy in a report on Friday, October 23rd. Wells Fargo & Company increased their price objective on shares of Bloom Energy from $176.00 to $182.00 and gave the company an “equal weight” rating in a research note on Monday, October 26th. Roth Capital set a $230.00 target price on shares of Bloom Energy in a research report on Friday, October 23rd. Morgan Stanley raised their target price on shares of Bloom Energy from $310.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, October 23rd. Finally, Susquehanna boosted their target price on shares of Bloom Energy from $293.00 to $298.00 and gave the stock a “positive” rating in a research note on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $263.05.

Bloom Energy Stock Performance

The company has a 50-day moving average price of $247.91 and a two-hundred day moving average price of $220.78. The company has a current ratio of 3.74, a quick ratio of 3.08 and a debt-to-equity ratio of 1.33. The stock has a market capitalization of $49.52 billion, a P/E ratio of 102.77, a price-to-earnings-growth ratio of 2.16 and a beta of 3.63.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.25. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The company had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the business posted $0.15 EPS. Bloom Energy’s revenue for the quarter was up 138.1% compared to the same quarter last year. On average, equities analysts forecast that Bloom Energy Corporation will post 2.61 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other news, insider Shawn Soderberg sold 2,870 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $270.07, for a total transaction of $775,100.90. Following the completion of the transaction, the insider owned 126,500 shares of the company’s stock, valued at approximately $34,163,855. The trade was a 2.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director John T. Chambers sold 8,828 shares of the stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $203.43, for a total transaction of $1,795,880.04. Following the completion of the transaction, the director directly owned 199,505 shares in the company, valued at $40,585,302.15. The trade was a 4.24% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 83,526 shares of company stock valued at $20,492,938. Company insiders own 3.00% of the company’s stock.

Institutional Trading of Bloom Energy

Several institutional investors have recently added to or reduced their stakes in the business. Lido Advisors LLC grew its position in shares of Bloom Energy by 31.0% during the third quarter. Lido Advisors LLC now owns 13,774 shares of the company’s stock valued at $3,815,000 after purchasing an additional 3,256 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in shares of Bloom Energy by 7.7% in the third quarter. Cornerstone Wealth Management LLC now owns 1,245 shares of the company’s stock worth $345,000 after buying an additional 89 shares in the last quarter. Csenge Advisory Group lifted its position in shares of Bloom Energy by 385.9% in the third quarter. Csenge Advisory Group now owns 5,495 shares of the company’s stock worth $1,522,000 after buying an additional 4,364 shares in the last quarter. New York Life Investment Management LLC bought a new position in Bloom Energy during the third quarter valued at approximately $10,088,000. Finally, 71 West Capital Partners boosted its stake in Bloom Energy by 23.2% during the third quarter. 71 West Capital Partners now owns 7,112 shares of the company’s stock valued at $1,970,000 after buying an additional 1,339 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.