Bloom Energy (NYSE:BE) Trading Down 5.3% – What’s Next?

by · The Markets Daily

Bloom Energy Co. (NYSE:BE – Get Free Report)’s stock price was down 5.3% during mid-day trading on Thursday . The stock traded as low as $22.13 and last traded at $22.21. Approximately 2,032,119 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 6,556,809 shares. The stock had previously closed at $23.46.

Wall Street Analysts Forecast Growth

BE has been the topic of a number of research reports. Truist Financial lowered their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Morgan Stanley boosted their target price on Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target on the stock. in a research note on Wednesday, November 20th. Finally, Roth Mkm started coverage on shares of Bloom Energy in a report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.45.

Read Our Latest Report on Bloom Energy

Bloom Energy Stock Up 5.4 %

The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The firm has a market capitalization of $5.51 billion, a PE ratio of -43.07 and a beta of 3.04. The company’s fifty day simple moving average is $18.28 and its 200 day simple moving average is $14.30.

Insiders Place Their Bets

In related news, CEO Kr Sridhar sold 46,697 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. The trade was a 2.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 122,975 shares of company stock worth $3,045,019. 8.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Millburn Ridgefield Corp boosted its holdings in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after buying an additional 528 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Bloom Energy during the 3rd quarter valued at approximately $34,000. Quest Partners LLC grew its holdings in Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after buying an additional 3,475 shares in the last quarter. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Bloom Energy in the third quarter worth $74,000. Finally, Gilliland Jeter Wealth Management LLC grew its stake in Bloom Energy by 97.7% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock valued at $90,000 after acquiring an additional 4,200 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

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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