Bloom Energy (NYSE:BE) Stock Price Down 4%

Bloom Energy Co. (NYSE:BE)’s stock price traded down 4% during trading on Monday . The stock traded as low as $9.23 and last traded at $9.24. 1,589,626 shares changed hands during trading, a decline of 71% from the average session volume of 5,536,678 shares. The stock had previously closed at $9.63.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Raymond James dropped their target price on Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. JPMorgan Chase & Co. cut Bloom Energy from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $19.00 to $14.00 in a report on Friday, February 16th. Redburn Atlantic assumed coverage on shares of Bloom Energy in a research report on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 price target on the stock. KeyCorp lowered shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, February 16th. Finally, Bank of America lowered shares of Bloom Energy from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $16.00 to $10.00 in a research report on Monday, January 29th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $16.69.

Bloom Energy Stock Performance

The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. The stock has a market capitalization of $2.21 billion, a PE ratio of -6.78 and a beta of 2.79. The firm’s 50-day simple moving average is $10.16 and its two-hundred day simple moving average is $11.71.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Thursday, February 15th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.06) by $0.11. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. The firm had revenue of $356.92 million for the quarter, compared to analysts’ expectations of $481.90 million. On average, equities research analysts expect that Bloom Energy Co. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the sale, the executive vice president now owns 73,946 shares of the company’s stock, valued at approximately $690,655.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction on Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the sale, the chief executive officer now owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Shawn Marie Soderberg sold 13,120 shares of Bloom Energy stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the sale, the executive vice president now directly owns 73,946 shares of the company’s stock, valued at approximately $690,655.64. The disclosure for this sale can be found here. Insiders sold 74,989 shares of company stock valued at $725,292 in the last quarter. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of the business. Tsfg LLC lifted its stake in shares of Bloom Energy by 11.1% in the 4th quarter. Tsfg LLC now owns 10,006 shares of the company’s stock valued at $148,000 after purchasing an additional 1,000 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Bloom Energy by 17.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after purchasing an additional 1,117 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Bloom Energy by 9.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock valued at $226,000 after purchasing an additional 1,308 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Bloom Energy by 10.6% in the 4th quarter. Principal Financial Group Inc. now owns 22,294 shares of the company’s stock valued at $330,000 after purchasing an additional 2,139 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Bloom Energy by 7.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 34,725 shares of the company’s stock valued at $460,000 after purchasing an additional 2,270 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.