Bloom Energy (NYSE:BE) Shares Down 7.1% – Time to Sell?

Bloom Energy Corporation (NYSE:BE)’s share price was down 7.1% on Wednesday . The stock traded as low as $100.05 and last traded at $101.6310. Approximately 13,542,800 shares were traded during trading, an increase of 40% from the average daily volume of 9,690,532 shares. The stock had previously closed at $109.44.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. TD Cowen upped their price target on Bloom Energy to $105.00 and gave the company a “hold” rating in a research report on Wednesday, October 29th. Susquehanna boosted their price objective on Bloom Energy to $157.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Mizuho set a $89.00 target price on Bloom Energy in a report on Wednesday, October 29th. Morgan Stanley lifted their price target on Bloom Energy to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Hsbc Global Res raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Bloom Energy has an average rating of “Hold” and a consensus target price of $93.77.

Bloom Energy Stock Performance

The firm’s fifty day moving average is $110.13 and its 200-day moving average is $64.99. 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 stock has a market capitalization of $22.51 billion, a PE ratio of 562.72, a price-to-earnings-growth ratio of 68.84 and a beta of 3.00.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $519.05 million during the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The company’s revenue was up 57.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.01) earnings per share. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Activity

In related news, insider Maciej Kurzymski sold 13,105 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total value of $1,888,299.45. Following the sale, the insider owned 93,269 shares of the company’s stock, valued at $13,439,130.21. This trade represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the transaction, the insider owned 219,818 shares of the company’s stock, valued at $23,988,738.34. This trade represents a 2.02% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 119,589 shares of company stock valued at $16,439,742. 3.60% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Fifth Third Bancorp purchased a new stake in Bloom Energy during the 3rd quarter worth about $32,000. N.E.W. Advisory Services LLC purchased a new stake in Bloom Energy during the third quarter worth approximately $32,000. Parkside Financial Bank & Trust boosted its holdings in Bloom Energy by 250.9% in the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after purchasing an additional 281 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new position in Bloom Energy in the third quarter valued at approximately $39,000. Finally, E Fund Management Hong Kong Co. Ltd. purchased a new position in Bloom Energy in the third quarter valued at approximately $42,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.