Bloom Energy (NYSE:BE) Trading Down 4.3% on Analyst Downgrade

Bloom Energy Co. (NYSE:BE)’s share price dropped 4.3% on Thursday after Roth Mkm lowered their price target on the stock from $26.00 to $20.00. Roth Mkm currently has a neutral rating on the stock. Bloom Energy traded as low as $17.05 and last traded at $17.06. Approximately 875,368 shares traded hands during trading, a decline of 87% from the average daily volume of 6,728,712 shares. The stock had previously closed at $17.83.

A number of other research firms have also recently commented on BE. Susquehanna reduced their price target on shares of Bloom Energy from $33.00 to $26.00 and set a “positive” rating for the company in a report on Monday. HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a research note on Tuesday, April 8th. Truist Financial upped their price target on Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, January 16th. BMO Capital Markets reissued a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating on shares of Bloom Energy in a research report on Tuesday, April 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Bloom Energy presently has an average rating of “Moderate Buy” and an average target price of $23.13.

Insiders Place Their Bets

In other news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. The trade was a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Several hedge funds have recently added to or reduced their stakes in BE. GAMMA Investing LLC grew its holdings in Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after purchasing an additional 569 shares during the period. Arizona State Retirement System grew its stake in shares of Bloom Energy by 1.3% during the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after acquiring an additional 759 shares during the period. Jones Financial Companies Lllp increased its holdings in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after acquiring an additional 812 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in Bloom Energy by 2.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock valued at $1,053,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Performance

The firm has a market capitalization of $3.93 billion, a PE ratio of -30.45 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company’s fifty day simple moving average is $22.17 and its 200 day simple moving average is $20.45.

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.