Bloom Energy (NYSE:BE) Trading Down 9.2% – Should You Sell?

Shares of Bloom Energy Co. (NYSE:BE) traded down 9.2% on Monday . The stock traded as low as $21.90 and last traded at $21.95. 2,437,580 shares were traded during mid-day trading, a decline of 61% from the average session volume of 6,206,880 shares. The stock had previously closed at $24.17.

Analysts Set New Price Targets

Several equities research analysts have recently commented on BE shares. BMO Capital Markets upped their price target on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, November 15th. Morgan Stanley lifted their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Susquehanna lifted their price objective on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. UBS Group raised their price target on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Finally, Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and a consensus price target of $24.18.

Bloom Energy Trading Down 5.2 %

The stock has a market cap of $5.24 billion, a PE ratio of -40.91 and a beta of 3.06. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The business has a 50-day moving average of $24.22 and a 200 day moving average of $17.72.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Bloom Energy by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company’s stock valued at $427,194,000 after acquiring an additional 356,317 shares during the period. Norges Bank acquired a new position in shares of Bloom Energy during the fourth quarter worth about $93,951,000. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of Bloom Energy during the 4th quarter valued at about $61,968,000. JAT Capital Mgmt LP lifted its position in Bloom Energy by 50.0% during the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after acquiring an additional 733,363 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in Bloom Energy by 7.3% in the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company’s stock worth $47,381,000 after buying an additional 144,616 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.