Bloom Energy (NYSE:BE) Trading Down 3.6% – Here’s What Happened

by · The Markets Daily

Shares of Bloom Energy Corporation (NYSE:BE – Get Free Report) fell 3.6% during mid-day trading on Friday . The stock traded as low as $76.00 and last traded at $90.02. 37,622,336 shares traded hands during trading, an increase of 297% from the average session volume of 9,473,351 shares. The stock had previously closed at $93.38.

Wall Street Analyst Weigh In

BE has been the topic of a number of research analyst reports. Evercore ISI reaffirmed an “outperform” rating on shares of Bloom Energy in a report on Monday, October 13th. Oppenheimer reiterated a “market perform” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. Cowen restated a “hold” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Finally, TD Cowen lifted their price target on Bloom Energy to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $95.65.

Get Our Latest Stock Report on Bloom Energy

Bloom Energy Stock Down 3.6%

The stock has a market cap of $21.29 billion, a P/E ratio of 605.17, a P/E/G ratio of 61.38 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 fifty day moving average is $101.90 and its 200 day moving average is $55.49.

Bloom Energy (NYSE:BE – Get Free Report) last issued its quarterly 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 $508.69 million for 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 firm’s revenue was up 57.1% compared to the same quarter last year. During the same period last year, the business posted ($0.01) earnings per share. As a group, equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity at Bloom Energy

In other news, Director Jim H. Snabe sold 20,000 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kr Sridhar sold 60,000 shares of the firm’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $48.97, for a total transaction of $2,938,200.00. Following the completion of the sale, the chief executive officer owned 2,324,613 shares in the company, valued at approximately $113,836,298.61. The trade was a 2.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 341,544 shares of company stock valued at $27,784,169. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BE. CIBC Bancorp USA Inc. bought a new stake in Bloom Energy in the 3rd quarter valued at $1,936,000. Centaurus Financial Inc. acquired a new stake in shares of Bloom Energy during the 3rd quarter valued at about $129,000. Wilmington Savings Fund Society FSB increased its stake in Bloom Energy by 143.5% in the third quarter. Wilmington Savings Fund Society FSB now owns 7,755 shares of the company’s stock valued at $656,000 after acquiring an additional 4,570 shares during the period. First Commonwealth Financial Corp PA acquired a new position in Bloom Energy in the third quarter worth about $223,000. Finally, Danske Bank A S bought a new position in Bloom Energy during the third quarter worth about $135,000. 77.04% of the stock is owned by institutional investors.

About Bloom Energy

(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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