Bloom Energy (NYSE:BE) Trading Down 4.6% – What’s Next?

Bloom Energy Co. (NYSE:BE) shares traded down 4.6% during trading on Friday . The company traded as low as $23.95 and last traded at $24.23. 2,396,441 shares were traded during trading, a decline of 64% from the average session volume of 6,614,813 shares. The stock had previously closed at $25.41.

Analyst Ratings Changes

A number of analysts recently commented on the company. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a research report on Friday, February 28th. Robert W. Baird increased their price target on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Piper Sandler decreased their price target on Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their price target on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Finally, UBS Group raised their target price on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average price target of $25.06.

Bloom Energy Stock Performance

The company has a market capitalization of $5.51 billion, a PE ratio of -42.68 and a beta of 3.30. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a 50-day moving average price of $24.10 and a two-hundred day moving average price of $19.36.

Insider Activity

In related news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the sale, the insider now directly owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp lifted its stake in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy in the 4th quarter valued at about $28,000. Smartleaf Asset Management LLC lifted its stake in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy in the 3rd quarter valued at about $34,000. Institutional investors own 77.04% of the company’s stock.

About Bloom Energy

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.