Bloom Energy (NYSE:BE) Shares Down 4.4% – Time to Sell?

Bloom Energy Corporation (NYSE:BE) was down 4.4% during mid-day trading on Tuesday. The company traded as low as $181.01 and last traded at $185.36. 13,004,174 shares traded hands during trading, a decline of 3% from the average daily volume of 13,453,469 shares. The stock had previously closed at $193.88.

Key Headlines Impacting Bloom Energy

These are some of the BE headlines that stood out recently:

• Positive Sentiment: Royal Bank of Canada assigned Bloom an “Outperform” rating, providing a favorable analyst view. Bloom Energy Earns Outperform Rating from RBC
• Negative Sentiment: The AI opportunity also creates risk: if the data-center buildout slows, demand for the power equipment needed to serve it could weaken. These Energy Stocks Can’t Escape Nvidia’s Wake
• Negative Sentiment: Commentary flags cash burn and the stock’s volatility as risks, even with a strong quarter and potential gigawatt-scale demand. Those concerns may temper enthusiasm about growth and make the shares sensitive to changes in AI-investment expectations. Bloom Energy Has Found an Unexpected Customer: AI

Analysts Set New Price Targets

A number of research analysts recently commented on BE shares. Evercore reissued an “outperform” rating on shares of Bloom Energy in a research note on Monday, October 26th. Wall Street Zen lowered Bloom Energy from a “buy” rating to a “hold” rating in a research note on Saturday, October 24th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $335.00 price objective on shares of Bloom Energy in a report on Monday. Barclays upgraded Bloom Energy from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $316.00 to $289.00 in a research report on Tuesday, November 3rd. Finally, UBS Group raised their price objective on Bloom Energy from $325.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $263.05.

Bloom Energy Stock Performance

The company has a market cap of $59.73 billion, a P/E ratio of 123.94, a price-to-earnings-growth ratio of 1.87 and a beta of 3.63. The company’s fifty day moving average is $245.20 and its 200 day moving average is $221.73. The company has a current ratio of 3.74, a quick ratio of 3.08 and a debt-to-equity ratio of 1.33.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.25. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was up 138.1% on a year-over-year basis. As a group, equities analysts predict that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Barbara Burger sold 2,333 shares of the stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $215.05, for a total transaction of $501,711.65. Following the completion of the sale, the director directly owned 36,607 shares in the company, valued at $7,872,335.35. This represents a 5.99% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Chambers sold 8,828 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $203.43, for a total value of $1,795,880.04. Following the transaction, the director owned 199,505 shares in the company, valued at approximately $40,585,302.15. The trade was a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 70,859 shares of company stock worth $17,244,650 in the last 90 days. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its holdings in Bloom Energy by 96.4% in the 3rd quarter. State Street Corp now owns 12,400,964 shares of the company’s stock worth $3,434,819,000 after acquiring an additional 6,085,533 shares during the last quarter. Jennison Associates LLC raised its stake in shares of Bloom Energy by 20,074.4% during the first quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock valued at $364,066,000 after acquiring an additional 2,673,710 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Bloom Energy during the second quarter valued at about $296,413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Bloom Energy by 78.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock worth $401,849,000 after purchasing an additional 583,135 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Bloom Energy during the third quarter worth about $158,620,000. 77.04% of the stock is currently owned by institutional investors.

Bloom Energy Company Profile

Bloom Energy Corporation develops solid oxide fuel cell technology for on-site electricity generation and hydrogen production. Its Bloom Energy Server systems generate power near the point of use, helping businesses and institutions meet electricity needs and support resilient energy operations. The company also offers solid oxide electrolyzers designed to produce hydrogen. Founded in 2001 by K.R. Sridhar, Bloom Energy is headquartered in San Jose, California. It serves customers in the United States and international markets, including countries in Asia.