Bloom Energy (NYSE:BE) Trading Down 3.8%

Bloom Energy Co. (NYSE:BE) was down 3.8% during mid-day trading on Tuesday . The company traded as low as $10.44 and last traded at $10.45. Approximately 2,264,152 shares were traded during mid-day trading, a decline of 62% from the average daily volume of 5,930,856 shares. The stock had previously closed at $10.86.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BE shares. JPMorgan Chase & Co. lifted their price target on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Bank of America lifted their price target on Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. UBS Group cut their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Truist Financial lifted their price target on Bloom Energy from $12.00 to $13.00 and gave the company a “hold” rating in a report on Monday, August 12th. Finally, BTIG Research boosted their target price on Bloom Energy from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $15.88.

Bloom Energy Stock Performance

The firm’s 50-day simple moving average is $11.86 and its two-hundred day simple moving average is $12.15. The stock has a market capitalization of $2.41 billion, a PE ratio of -8.03 and a beta of 2.69. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43.

Bloom Energy (NYSE:BE) last issued its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.32) EPS. On average, equities research analysts expect that Bloom Energy Co. will post -0.25 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 2,094 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the completion of the transaction, the insider now owns 168,867 shares of the company’s stock, valued at approximately $2,453,637.51. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently added to or reduced their stakes in the company. Xponance Inc. increased its holdings in Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after buying an additional 903 shares during the period. Millburn Ridgefield Corp raised its position in Bloom Energy by 64.0% in the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after purchasing an additional 1,286 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in Bloom Energy by 9.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock worth $226,000 after purchasing an additional 1,308 shares during the period. Arizona State Retirement System boosted its holdings in Bloom Energy by 2.7% during the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Tocqueville Asset Management L.P. grew its stake in shares of Bloom Energy by 3.1% in the 1st quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock valued at $666,000 after purchasing an additional 1,800 shares during the period. 77.04% of the stock is 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.