Bloom Energy (NYSE:BE) Trading Down 4.6% – Time to Sell?

Bloom Energy Corporation (NYSE:BE)’s share price traded down 4.6% on Monday . The company traded as low as $103.66 and last traded at $106.7910. 11,660,170 shares were traded during trading, an increase of 26% from the average session volume of 9,260,336 shares. The stock had previously closed at $111.89.

Analyst Ratings Changes

Several research firms have recently weighed in on BE. Susquehanna lifted their price objective on Bloom Energy to $157.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Robert W. Baird set a $157.00 target price on Bloom Energy in a report on Wednesday, October 29th. Roth Capital restated a “neutral” rating and set a $103.00 price target on shares of Bloom Energy in a report on Wednesday, October 29th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $123.00 price objective on shares of Bloom Energy in a research report on Monday, October 20th. Finally, BMO Capital Markets set a $136.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $95.65.

Bloom Energy Stock Performance

The stock has a market cap of $25.26 billion, a price-to-earnings ratio of 621.61, a P/E/G ratio of 63.05 and a beta of 3.43. The company’s fifty day simple moving average is $99.46 and its two-hundred day simple moving average is $54.22. The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88.

Bloom Energy (NYSE:BE) last posted its earnings results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company had revenue of $508.69 million during the quarter, compared to the consensus estimate of $425.18 million. During the same period in the previous year, the firm posted ($0.01) earnings per share. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. On average, analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 36,666 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total value of $5,169,906.00. Following the completion of the sale, the insider directly owned 225,949 shares of the company’s stock, valued at approximately $31,858,809. This represents a 13.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Kr Sridhar sold 60,000 shares of Bloom Energy stock in a transaction on Monday, August 25th. The stock was sold at an average price of $48.97, for a total transaction of $2,938,200.00. Following the transaction, the chief executive officer directly owned 2,324,613 shares in the company, valued at $113,836,298.61. This represents a 2.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 330,600 shares of company stock valued at $26,607,760. 3.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BE. Abel Hall LLC purchased a new position in Bloom Energy during the third quarter worth about $362,000. Harvest Investment Services LLC bought a new position in shares of Bloom Energy during the 3rd quarter worth approximately $1,359,000. Kestra Private Wealth Services LLC purchased a new position in shares of Bloom Energy in the 3rd quarter worth approximately $617,000. Revere Asset Management Inc bought a new position in shares of Bloom Energy in the third quarter valued at approximately $3,517,000. Finally, NewEdge Advisors LLC grew its holdings in shares of Bloom Energy by 1,397.0% in the third quarter. NewEdge Advisors LLC now owns 14,461 shares of the company’s stock valued at $1,223,000 after acquiring an additional 13,495 shares in the last quarter. 77.04% of the stock is owned by 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.