Bloom Energy (NYSE:BE) Shares Down 5.2%

Shares of Bloom Energy Co. (NYSE:BE) fell 5.2% during mid-day trading on Friday . The stock traded as low as $12.33 and last traded at $12.36. 3,195,015 shares traded hands during trading, a decline of 49% from the average session volume of 6,220,628 shares. The stock had previously closed at $13.04.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BE. Truist Financial raised Bloom Energy from a “sell” rating to a “hold” rating and raised their price objective for the stock from $9.00 to $11.00 in a report on Wednesday, March 6th. TD Cowen raised their price target on Bloom Energy from $10.00 to $13.00 and gave the stock a “hold” rating in a report on Friday, May 10th. Royal Bank of Canada reissued an “outperform” rating and set a $15.00 price target on shares of Bloom Energy in a report on Thursday, June 20th. BTIG Research raised their price target on Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. Finally, Morgan Stanley reissued an “overweight” rating and set a $22.00 price target on shares of Bloom Energy in a report on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $15.69.

Bloom Energy Stock Performance

The stock’s 50-day moving average price is $13.36 and its 200-day moving average price is $12.17. The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45. The company has a market capitalization of $2.78 billion, a price-to-earnings ratio of -9.07 and a beta of 2.83.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The company had revenue of $235.30 million for the quarter, compared to analyst estimates of $254.06 million. As a group, equities research analysts expect that Bloom Energy Co. will post -0.26 earnings per share for the current year.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy 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 sale, the insider now directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Shawn Marie Soderberg sold 8,963 shares of Bloom Energy stock in a transaction that occurred on Tuesday, April 16th. The stock was 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 directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 40,112 shares of Bloom Energy stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $11.93, for a total value of $478,536.16. Following the transaction, the chief executive officer now owns 2,742,496 shares of the company’s stock, valued at $32,717,977.28. The disclosure for this sale can be found here. In the last three months, insiders sold 78,385 shares of company stock worth $943,038. Company insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Deutsche Bank AG raised its position in shares of Bloom Energy by 6.2% during the 3rd quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock worth $12,878,000 after purchasing an additional 57,090 shares during the last quarter. FMR LLC grew its stake in Bloom Energy by 168.8% in the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after acquiring an additional 2,213,167 shares during the period. Electron Capital Partners LLC purchased a new stake in Bloom Energy in the 4th quarter worth approximately $27,796,000. Norges Bank purchased a new stake in Bloom Energy in the 4th quarter worth approximately $82,678,000. Finally, KBC Group NV grew its stake in Bloom Energy by 26.1% in the 4th quarter. KBC Group NV now owns 586,242 shares of the company’s stock worth $8,676,000 after acquiring an additional 121,287 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.