Bloom Energy (NYSE:BE) Stock Falls 3.5% – Time to Sell?

Bloom Energy Corporation (NYSE:BE) shares fell 3.5% on Monday. The stock traded as low as $194.86 and last traded at $196.1540. 15,030,333 shares changed hands during mid-day trading, an increase of 14% from the average session volume of 13,227,632 shares. The stock had previously closed at $203.17.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. TD Cowen upgraded shares of Bloom Energy to a “hold” rating in a research report on Monday, October 5th. Sanford C. Bernstein increased their target price on shares of Bloom Energy from $282.00 to $306.00 and gave the stock a “market perform” rating in a report on Friday, October 23rd. Truist Financial raised their price objective on Bloom Energy from $218.00 to $240.00 and gave the stock a “hold” rating in a research note on Friday, October 16th. Susquehanna lifted their target price on Bloom Energy from $293.00 to $298.00 and gave the stock a “positive” rating in a report on Friday, July 10th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a report on Monday, October 19th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Bloom Energy presently has an average rating of “Hold” and an average price target of $264.33.

Bloom Energy Trading Down 3.5%

The business’s 50 day simple moving average is $248.16 and its 200 day simple moving average is $219.80. The stock has a market cap of $57.99 billion, a price-to-earnings ratio of 120.34, a PEG ratio of 2.05 and a beta of 3.77. The company has a quick ratio of 3.08, a current ratio of 3.74 and a debt-to-equity ratio of 1.33.

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

Insider Transactions at Bloom Energy

In other news, insider Satish Chitoori sold 2,870 shares of the business’s stock in a transaction dated Wednesday, September 16th. The shares were sold at an average price of $270.06, for a total value of $775,072.20. Following the completion of the sale, the insider owned 202,494 shares of the company’s stock, valued at approximately $54,685,529.64. The trade was a 1.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Shawn Soderberg sold 2,895 shares of the company’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $233.60, for a total transaction of $676,272.00. Following the completion of the transaction, the insider owned 129,370 shares in the company, valued at $30,220,832. This trade represents a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 74,698 shares of company stock worth $18,697,058. 3.00% of the stock is currently owned by company insiders.

Institutional Trading of Bloom Energy

Large investors have recently modified their holdings of the stock. Jennison Associates LLC raised its position in shares of Bloom Energy by 20,074.4% in the 1st quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock valued at $364,066,000 after buying an additional 2,673,710 shares in the last quarter. Bank of America Corp DE boosted its position in shares of Bloom Energy by 6.1% during the 1st quarter. Bank of America Corp DE now owns 2,211,880 shares of the company’s stock worth $299,688,000 after acquiring an additional 126,649 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Bloom Energy by 78.3% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock valued at $401,849,000 after acquiring an additional 583,135 shares during the last quarter. Elemental Capital Partners LLC increased its stake in Bloom Energy by 2.5% in the third quarter. Elemental Capital Partners LLC now owns 1,039,031 shares of the company’s stock valued at $287,791,000 after acquiring an additional 25,625 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Bloom Energy during the second quarter valued at approximately $296,413,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.