Bloom Energy (NYSE:BE) Shares Down 18.6% – What’s Next?

by · The Cerbat Gem

Bloom Energy Corporation (NYSE:BE – Get Free Report)’s share price was down 18.6% during trading on Thursday . The company traded as low as $98.39 and last traded at $103.1290. Approximately 28,396,910 shares traded hands during trading, an increase of 210% from the average daily volume of 9,172,302 shares. The stock had previously closed at $126.72.

Analysts Set New Price Targets

BE has been the subject of a number of recent analyst reports. Susquehanna upped their price objective on Bloom Energy to $157.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. TD Cowen boosted their price target on shares of Bloom Energy to $105.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. Royal Bank Of Canada restated an “outperform” rating and set a $123.00 price objective on shares of Bloom Energy in a report on Monday, October 20th. Jefferies Financial Group reaffirmed an “underperform” rating and issued a $53.00 price objective on shares of Bloom Energy in a research report on Friday, October 31st. Finally, Zacks Research downgraded shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and a consensus price target of $95.65.

Check Out Our Latest Analysis on BE

Bloom Energy Price Performance

The firm’s 50 day moving average price is $98.40 and its two-hundred day moving average price is $53.34. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The stock has a market cap of $26.22 billion, a PE ratio of 621.61, a P/E/G ratio of 63.05 and a beta of 3.43.

Bloom Energy (NYSE:BE – Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company had revenue of $508.69 million during the quarter, compared to the consensus estimate of $425.18 million. During the same period last year, the firm earned ($0.01) EPS. Bloom Energy’s revenue for the quarter was up 57.1% on a year-over-year basis. On average, research analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, Director Jim H. Snabe sold 20,000 shares of Bloom Energy 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kr Sridhar sold 60,000 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $48.97, for a total value of $2,938,200.00. Following the sale, the chief executive officer owned 2,324,613 shares in the company, valued at approximately $113,836,298.61. This represents a 2.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 332,065 shares of company stock valued at $26,675,662. 3.60% of the stock is currently owned by company insiders.

Institutional Trading of Bloom Energy

A number of large investors have recently modified their holdings of the business. Advisors Asset Management Inc. lifted its holdings in Bloom Energy by 43.0% in the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock worth $1,704,000 after buying an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Bloom Energy by 634.2% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company’s stock worth $11,763,000 after acquiring an additional 516,833 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of Bloom Energy in the 2nd quarter valued at approximately $108,000. Mizuho Markets Americas LLC boosted its position in shares of Bloom Energy by 29.9% during the second quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after purchasing an additional 90,980 shares in the last quarter. Finally, Comerica Bank boosted its position in shares of Bloom Energy by 5.8% during the first quarter. Comerica Bank now owns 88,554 shares of the company’s stock valued at $1,741,000 after purchasing an additional 4,885 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

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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