Bloom Energy (NYSE:BE) Trading Down 9.5% – Here’s Why

by · The Markets Daily

Bloom Energy Corporation (NYSE:BE – Get Free Report) shares dropped 9.5% on Tuesday . The stock traded as low as $128.01 and last traded at $128.85. Approximately 14,245,858 shares were traded during mid-day trading, an increase of 59% from the average daily volume of 8,983,118 shares. The stock had previously closed at $142.37.

Wall Street Analyst Weigh In

BE has been the topic of several analyst reports. Cowen reaffirmed a “hold” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Zacks Research raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Friday, October 3rd. Wells Fargo & Company increased their price objective on shares of Bloom Energy to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 21st. BTIG Research increased their price objective on shares of Bloom Energy to $145.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Bloom Energy to $129.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $95.65.

Get Our Latest Stock Analysis on BE

Bloom Energy Stock Down 9.5%

The company has a market cap of $30.15 billion, a P/E ratio of 734.22, a price-to-earnings-growth ratio of 235.83 and a beta of 3.43. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The firm’s 50 day moving average price is $84.96 and its 200-day moving average price is $46.63.

Bloom Energy (NYSE:BE – Get Free Report) last issued its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. The company had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. As a group, equities research analysts expect that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $43.31, for a total value of $1,948,950.00. Following the transaction, the insider owned 229,682 shares of the company’s stock, valued at approximately $9,947,527.42. This trade represents a 16.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aman Joshi sold 4,870 shares of the firm’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the transaction, the insider directly owned 224,361 shares in the company, valued at $9,728,292.96. This trade represents a 2.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 301,193 shares of company stock worth $14,893,710. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently modified their holdings of BE. Banque Transatlantique SA raised its position in shares of Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company’s stock valued at $30,000 after acquiring an additional 1,161 shares during the period. Harbour Investments Inc. raised its position in shares of Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company’s stock valued at $31,000 after acquiring an additional 1,512 shares during the period. N.E.W. Advisory Services LLC acquired a new stake in shares of Bloom Energy in the 3rd quarter valued at approximately $32,000. Parkside Financial Bank & Trust raised its position in shares of Bloom Energy by 250.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after acquiring an additional 281 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in shares of Bloom Energy in the 2nd quarter valued at approximately $36,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Company Profile

(Get Free Report)

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.

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