Bloom Energy (NYSE:BE) Shares Down 3.5% – Time to Sell?

Bloom Energy Corporation (NYSE:BE) shares were down 3.5% during mid-day trading on Monday. The stock traded as low as $194.86 and last traded at $196.1540. 15,030,333 shares were traded during mid-day trading, an increase of 14% from the average session volume of 13,227,632 shares. The stock had previously closed at $203.17.

Wall Street Analyst Weigh In

BE has been the subject of several recent analyst reports. Wall Street Zen downgraded Bloom Energy from a “buy” rating to a “hold” rating in a research report on Saturday, October 24th. Robert W. Baird lifted their target price on Bloom Energy from $310.00 to $351.00 and gave the company an “outperform” rating in a research report on Thursday, October 15th. KeyCorp reissued a “sector weight” rating on shares of Bloom Energy in a research note on Friday, October 23rd. Jefferies Financial Group reissued a “hold” rating and issued a $242.00 target price on shares of Bloom Energy in a report on Friday, October 23rd. Finally, Morgan Stanley raised their price target on shares of Bloom Energy from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Friday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $264.33.

Bloom Energy Stock Down 3.5%

The stock has a market capitalization of $57.99 billion, a P/E ratio of 120.34, a price-to-earnings-growth ratio of 2.05 and a beta of 3.77. The stock’s fifty day simple moving average is $248.16 and its two-hundred day simple moving average is $219.80. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.08 and a current ratio of 3.74.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data 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. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Bloom Energy had a net margin of 13.53% and a return on equity of 45.29%. Bloom Energy’s revenue for the quarter was up 138.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.15 earnings per share. As a group, research analysts expect that Bloom Energy Corporation will post 2.61 EPS for the current fiscal year.

Insider Activity

In other Bloom Energy news, insider Aman Joshi sold 8,437 shares of the stock in a transaction that occurred on Thursday, October 1st. The shares were sold at an average price of $277.17, for a total transaction of $2,338,483.29. Following the completion of the sale, the insider owned 147,092 shares of the company’s stock, valued at approximately $40,769,489.64. This represents a 5.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeffrey R. Immelt sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $238.91, for a total transaction of $7,167,300.00. Following the transaction, the director owned 201,243 shares of the company’s stock, valued at approximately $48,078,965.13. The trade was a 12.97% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 74,698 shares of company stock worth $18,697,058. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently modified their holdings of BE. Montanova Capital LLC purchased a new position in Bloom Energy in the second quarter worth about $10,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Bloom Energy by 78.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock valued at $401,849,000 after buying an additional 583,135 shares in the last quarter. Militia Capital Management LLC bought a new position in shares of Bloom Energy in the first quarter worth approximately $813,000. Assenagon Asset Management S.A. lifted its holdings in Bloom Energy by 3,398.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 239,877 shares of the company’s stock worth $72,611,000 after purchasing an additional 233,020 shares in the last quarter. Finally, Zweig DiMenna Associates LLC purchased a new position in Bloom Energy during the first quarter valued at $8,468,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Company Profile

Bloom Energy Corporation develops and manufactures energy systems designed to generate electricity on-site. Its primary product is the Bloom Energy Server, a solid oxide fuel cell platform that converts fuel into electricity through an electrochemical process rather than combustion. The systems are used by businesses, utilities, data centers and other organizations seeking reliable, distributed power.

The company also develops electrolyzers based on its solid oxide technology. These systems are designed to produce hydrogen from electricity and water and support applications related to industrial operations, energy storage and the emerging hydrogen economy.