Bloom Energy (NYSE:BE) Shares Down 2.5% – Time to Sell?

Shares of Bloom Energy Corporation (NYSE:BE) traded down 2.5% on Thursday. The company traded as low as $219.01 and last traded at $222.28. 9,511,057 shares were traded during trading, a decline of 28% from the average daily volume of 13,198,824 shares. The stock had previously closed at $228.08.

Key Stories Impacting Bloom Energy

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: Bloom Energy’s addition to the S&P 500 in September increases its visibility and can create demand from index-tracking funds. Analysts also see substantial long-term opportunity as data centers and artificial-intelligence infrastructure require reliable power. Bloom Energy Just Joined the S&P 500. Here’s What History Says Happens Next.
• Positive Sentiment: A comparison with Plug Power favors BE on earnings growth, profitability and liquidity, supporting the view that Bloom is one of the stronger companies in the fuel-cell sector. Bloom Energy or Plug Power: Which Offers Better Long-Term Upside Now?
• Positive Sentiment: Recent coverage continues to highlight Bloom’s record quarter and explosive growth potential, while a recent analyst upgrade provided additional support for the stock’s investment case. Bloom Energy stock faces cash-flow test after record quarter

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup boosted their target price on Bloom Energy from $281.00 to $284.00 and gave the stock a “neutral” rating in a research report on Thursday. Oppenheimer restated a “market perform” rating on shares of Bloom Energy in a research report on Friday, October 23rd. BTIG Research dropped their price target on Bloom Energy from $295.00 to $250.00 and set a “buy” rating for the company in a research report on Friday, October 23rd. Wells Fargo & Company lifted their price target on Bloom Energy from $176.00 to $182.00 and gave the stock an “equal weight” rating in a research note on Monday, October 26th. Finally, Robert W. Baird raised their target price on shares of Bloom Energy from $310.00 to $351.00 and gave the company an “outperform” rating in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $264.33.

Bloom Energy Trading Down 8.9%

The business has a 50-day moving average of $248.16 and a 200 day moving average of $219.80. The stock has a market cap of $59.86 billion, a PE ratio of 124.21, a PEG ratio of 2.24 and a beta of 3.77. 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 released its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 earnings per share (EPS) 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 company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the company earned $0.15 EPS. The firm’s revenue for the quarter was up 138.1% compared to the same quarter last year. Equities research analysts predict that Bloom Energy Corporation will post 2.61 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In related news, insider Shawn Soderberg sold 2,895 shares of the company’s stock in a transaction on Friday, August 14th. The shares were sold at an average price of $233.60, for a total transaction of $676,272.00. Following the completion of the sale, the insider directly owned 129,370 shares of the company’s stock, valued at approximately $30,220,832. This represents a 2.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Jeffrey R. Immelt sold 30,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $238.91, for a total value of $7,167,300.00. Following the transaction, the director owned 201,243 shares in the company, valued at approximately $48,078,965.13. This represents a 12.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 89,698 shares of company stock worth $21,780,758. Corporate insiders own 3.00% of the company’s stock.

Institutional Trading of Bloom Energy

Several large investors have recently bought and sold shares of BE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Bloom Energy by 78.3% in 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. Jennison Associates LLC grew its position in Bloom Energy by 20,074.4% in the 1st quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock valued at $364,066,000 after buying an additional 2,673,710 shares in the last quarter. Bank of America Corp DE increased its stake in Bloom Energy by 6.1% during the 1st quarter. Bank of America Corp DE now owns 2,211,880 shares of the company’s stock valued at $299,688,000 after buying an additional 126,649 shares during the period. Bank of New York Mellon Corp bought a new stake in shares of Bloom Energy during the 2nd quarter worth about $296,413,000. Finally, Elemental Capital Partners LLC raised its position in shares of Bloom Energy by 2.5% during the 3rd quarter. Elemental Capital Partners LLC now owns 1,039,031 shares of the company’s stock worth $287,791,000 after buying an additional 25,625 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

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.