Bloom Energy (NYSE:BE) Trading Down 8.8% – Here’s Why

Bloom Energy Corporation (NYSE:BE)’s share price fell 8.8% during trading on Tuesday . The stock traded as low as $125.55 and last traded at $126.9450. 11,159,289 shares changed hands during trading, an increase of 23% from the average session volume of 9,085,171 shares. The stock had previously closed at $139.23.

Analysts Set New Price Targets

BE has been the subject of several recent research reports. UBS Group lifted their price objective on Bloom Energy to $115.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. Zacks Research cut shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Weiss Ratings reiterated a “hold (c)” rating on shares of Bloom Energy in a research note on Thursday, October 30th. Royal Bank Of Canada reissued an “outperform” rating and issued a $123.00 price objective on shares of Bloom Energy in a research note on Monday, October 20th. Finally, Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a research report on Monday, October 13th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $95.65.

Bloom Energy Stock Performance

The firm’s 50 day moving average is $93.36 and its 200 day moving average is $50.83. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The stock has a market cap of $30.02 billion, a P/E ratio of 751.17, a price-to-earnings-growth ratio of 76.19 and a beta of 3.43.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business had revenue of $519.05 million for the quarter, compared to the consensus estimate of $425.18 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The business’s quarterly revenue was up 57.1% on a year-over-year basis. Analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insiders Place Their Bets

In other news, Director Jim H. Snabe sold 20,000 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total transaction of $2,860,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 400 shares of the company’s stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $71.16, for a total transaction of $28,464.00. Following the transaction, the insider owned 231,965 shares in the company, valued at approximately $16,506,629.40. This trade represents a 0.17% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 406,964 shares of company stock valued at $29,954,235. 3.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently made changes to their positions in BE. Fifth Third Bancorp acquired a new position in shares of Bloom Energy in the 3rd quarter valued at $32,000. N.E.W. Advisory Services LLC acquired a new position in shares of Bloom Energy in the third quarter valued at about $32,000. Parkside Financial Bank & Trust raised its stake in shares of Bloom Energy by 250.9% in the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after purchasing an additional 281 shares during the last quarter. Cranbrook Wealth Management LLC acquired a new stake in shares of Bloom Energy during the third quarter worth about $39,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new stake in Bloom Energy in the third quarter valued at approximately $42,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Company Profile

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.