Bloom Energy (NYSE:BE) Shares Down 2.7% – Here’s Why

Shares of Bloom Energy Corporation (NYSE:BE) were down 2.7% during trading on Wednesday . The stock traded as low as $285.90 and last traded at $294.0880. Approximately 6,589,070 shares traded hands during trading, a decline of 41% from the average daily volume of 11,116,199 shares. The stock had previously closed at $302.40.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BE shares. Morgan Stanley restated an “overweight” rating and set a $310.00 target price on shares of Bloom Energy in a report on Wednesday, April 29th. Royal Bank Of Canada increased their target price on Bloom Energy to $335.00 and gave the stock an “outperform” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Bloom Energy in a report on Friday, April 24th. Zacks Research upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. Finally, BTIG Research increased their target price on Bloom Energy to $295.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $217.48.

Bloom Energy Stock Performance

The firm has a fifty day moving average of $212.84 and a 200-day moving average of $157.16. The firm has a market cap of $83.65 billion, a P/E ratio of -5,880.58 and a beta of 3.82. The company has a quick ratio of 4.10, a current ratio of 5.03 and a debt-to-equity ratio of 2.90.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Tuesday, April 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.32. The business had revenue of $751.05 million for the quarter, compared to analysts’ expectations of $539.94 million. Bloom Energy had a return on equity of 21.05% and a net margin of 0.25%.The firm’s quarterly revenue was up 130.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. Bloom Energy has set its FY 2026 guidance at 1.850-2.250 EPS. Research analysts predict that Bloom Energy Corporation will post 1.31 earnings per share for the current fiscal year.

Insider Transactions at Bloom Energy

In related news, insider Satish Chitoori sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $204.23, for a total value of $4,084,600.00. Following the transaction, the insider owned 212,365 shares in the company, valued at $43,371,303.95. This trade represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Aman Joshi sold 19,944 shares of the firm’s stock in a transaction dated Monday, March 16th. The shares were sold at an average price of $154.85, for a total value of $3,088,328.40. Following the completion of the transaction, the insider owned 190,521 shares in the company, valued at approximately $29,502,176.85. This represents a 9.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 270,027 shares of company stock worth $55,319,814 in the last ninety days. 3.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the stock. Creekmur Asset Management LLC acquired a new position in Bloom Energy in the third quarter valued at about $1,825,000. Meridian Wealth Management LLC acquired a new position in Bloom Energy in the third quarter valued at about $553,000. Straight Path Wealth Management acquired a new position in Bloom Energy in the third quarter valued at about $1,099,000. Strs Ohio lifted its stake in Bloom Energy by 24.8% in the fourth quarter. Strs Ohio now owns 41,200 shares of the company’s stock valued at $3,580,000 after buying an additional 8,200 shares during the period. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Bloom Energy in the third quarter valued at about $1,985,000. Institutional investors and hedge funds own 77.04% of the company’s stock.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.