Bloom Energy (NYSE:BE) Stock Price Down 16.4% – Here’s What Happened

Bloom Energy Corporation (NYSE:BE) shares fell 16.4% on Thursday. The stock traded as low as $156.00 and last traded at $167.5080. Approximately 36,853,257 shares changed hands during mid-day trading, an increase of 175% from the average session volume of 13,383,869 shares. The stock had previously closed at $200.40.

Bloom Energy News Summary

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

• Positive Sentiment: NTT DATA agreed to deploy up to 900 megawatts of Bloom’s onsite power across multiple data-center projects worldwide, a significant commercial opportunity tied to growing electricity needs. NTT DATA announces agreement with Bloom Energy
• Positive Sentiment: Bloom’s latest quarterly results beat estimates, with revenue up 138% year over year to $1.24 billion, and the company raised its full-year revenue outlook to $4.4 billion–$4.6 billion. Bloom Energy raises full-year outlook
• Positive Sentiment: Barclays upgraded BE to Overweight, with a $289 price target, citing demand for firm onsite power, including from data centers. Barclays upgrades Bloom Energy
• Neutral Sentiment: Analyst views are mixed: alongside Barclays’ upgrade, another recent analysis downgraded Bloom to Hold and set a $176 target, pointing to questions about future growth and margin gains. Bloom Energy downgraded to Hold
• Negative Sentiment: Fuel-cell and AI-related stocks sold off broadly after the midterm elections. Coverage cited investor fears that federal policy changes could slow AI data-center investment and power demand, weighing on BE even as the NTT deal was announced. Market concerns weigh on AI and fuel-cell stocks

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BE. Oppenheimer restated a “market perform” rating on shares of Bloom Energy in a report on Friday, October 23rd. BMO Capital Markets downgraded shares of Bloom Energy from an “outperform” rating to a “market perform” rating in a report on Tuesday. KeyCorp reiterated a “sector weight” rating on shares of Bloom Energy in a research report on Friday, October 23rd. Mizuho boosted their price objective on Bloom Energy from $242.00 to $351.00 and gave the stock an “outperform” rating in a research note on Monday, September 14th. Finally, Citigroup upped their price objective on Bloom Energy from $281.00 to $284.00 and gave the company a “neutral” rating in a research report on Thursday, October 29th. One 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $263.05.

Bloom Energy Stock Performance

The company has a current ratio of 3.74, a quick ratio of 3.08 and a debt-to-equity ratio of 1.33. The company has a market capitalization of $49.52 billion, a PE ratio of 102.77, a PEG ratio of 2.16 and a beta of 3.63. The firm’s 50-day simple moving average is $247.91 and its 200-day simple moving average is $220.78.

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

Insider Buying and Selling

In related news, insider Shawn Soderberg sold 2,870 shares of the business’s stock in a transaction on Wednesday, September 16th. The stock was sold at an average price of $270.07, for a total transaction of $775,100.90. Following the transaction, the insider directly owned 126,500 shares in the company, valued at $34,163,855. The trade was a 2.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Maciej Kurzymski sold 2,295 shares of the business’s stock in a transaction dated Wednesday, September 16th. The stock was sold at an average price of $268.42, for a total value of $616,023.90. Following the sale, the chief accounting officer owned 77,391 shares in the company, valued at $20,773,292.22. The trade was a 2.88% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 83,526 shares of company stock valued at $20,492,938 over the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BE. Montanova Capital LLC purchased a new position in Bloom Energy during the second quarter valued at approximately $10,231,000. 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 valued at $401,849,000 after acquiring an additional 583,135 shares during the period. Militia Capital Management LLC acquired a new position in Bloom Energy in the first quarter valued at approximately $813,000. Assenagon Asset Management S.A. boosted its position 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 stake in Bloom Energy in the 1st quarter worth approximately $8,468,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

About Bloom Energy

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.