Bloom Energy (NYSE:BE) Trading Down 4%

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

Wall Street Analyst Weigh In

BE has been the topic of a number of recent analyst reports. Bank of America cut shares of Bloom Energy from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $16.00 to $10.00 in a research report on Monday, January 29th. Raymond James cut their price objective on shares of Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, February 16th. BMO Capital Markets cut their price objective on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating on the stock in a research report on Friday, February 16th. Robert W. Baird raised shares of Bloom Energy from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $16.00 to $22.00 in a research report on Wednesday, January 10th. Finally, Truist Financial raised shares of Bloom Energy from a “sell” rating to a “hold” rating and boosted their price objective for the company from $9.00 to $11.00 in a research report on Wednesday, March 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.69.

Bloom Energy Stock Down 3.5 %

The stock’s fifty day moving average price is $10.25 and its two-hundred day moving average price is $11.73. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41.

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

Insider Buying and Selling

In other news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction dated 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 transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction dated 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 transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total transaction of $88,375.18. Following the completion of the transaction, the insider now owns 168,003 shares of the company’s stock, valued at $1,656,509.58. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 74,989 shares of company stock worth $725,292. Insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently made changes to their positions in the business. Millburn Ridgefield Corp purchased a new position in Bloom Energy during the 3rd quarter valued at $33,000. Quest Partners LLC bought a new stake in shares of Bloom Energy during the 4th quarter valued at $51,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Bloom Energy by 17.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after buying an additional 1,117 shares in the last quarter. AM Investment Strategies LLC bought a new stake in shares of Bloom Energy during the 3rd quarter valued at $133,000. Finally, Fairman Group LLC bought a new stake in shares of Bloom Energy during the 4th quarter valued at $146,000. 77.04% of the stock is currently 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.