Bloom Energy (NYSE:BE) Shares Down 1% - Should You Sell?

Key Points

• Bloom Energy's stock experienced a 1% decline, trading at $86.67 after reaching a low of $85.08, with a total of 8,219,580 shares changing hands.
• Multiple analysts have revised their price targets for Bloom Energy, with estimates ranging from $31.00 to $100.00, reflecting a consensus rating of "Hold" and an overall price target of $50.38.
• Recent insider sales included CEO Kr Sridhar selling 37,955 shares at an average price of $53.39, reducing his ownership by 1.57%, amidst increasing institutional interest in the company.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s stock price dropped 1% during trading on Thursday . The stock traded as low as $85.08 and last traded at $86.67. Approximately 8,219,580 shares changed hands during mid-day trading, a decline of 3% from the average daily volume of 8,440,243 shares. The stock had previously closed at $87.58.

Wall Street Analyst Weigh In

BE has been the subject of several research reports. Roth Capital boosted their price target on shares of Bloom Energy from $34.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, September 19th. BTIG Research boosted their price target on shares of Bloom Energy from $42.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Evercore ISI initiated coverage on shares of Bloom Energy in a research note on Monday. They issued an "outperform" rating and a $100.00 price target for the company. Jefferies Financial Group downgraded shares of Bloom Energy from a "hold" rating to an "underperform" rating and boosted their price target for the stock from $24.00 to $31.00 in a research note on Wednesday, September 24th. Finally, Robert W. Baird boosted their target price on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research note on Thursday, September 4th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, Bloom Energy currently has a consensus rating of "Hold" and a consensus price target of $50.38.

Bloom Energy Trading Down 1.0%

The stock has a market capitalization of $20.28 billion, a PE ratio of 2,167.29, a PEG ratio of 138.92 and a beta of 3.48. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The business's 50-day moving average is $60.58 and its two-hundred day moving average is $34.95.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. During the same period in the previous year, the company earned ($0.06) earnings per share. Bloom Energy's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. On average, analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Kr Sridhar sold 37,955 shares of the company's stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $53.39, for a total value of $2,026,417.45. Following the completion of the sale, the chief executive officer directly owned 2,378,663 shares of the company's stock, valued at approximately $126,996,817.57. This represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aman Joshi sold 4,870 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the sale, the insider directly owned 224,361 shares of the company's stock, valued at $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 302,205 shares of company stock valued at $14,919,283. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in BE. Norges Bank purchased a new position in Bloom Energy during the second quarter worth about $57,821,000. Man Group plc raised its holdings in Bloom Energy by 177.4% during the second quarter. Man Group plc now owns 2,392,915 shares of the company's stock worth $57,239,000 after purchasing an additional 1,530,167 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new position in Bloom Energy during the first quarter worth about $22,609,000. Driehaus Capital Management LLC purchased a new position in Bloom Energy during the first quarter worth about $21,066,000. Finally, Goldman Sachs Group Inc. grew its position in Bloom Energy by 50.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock worth $49,127,000 after buying an additional 836,810 shares during the period. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.

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