Bloom Energy (NYSE:BE) Shares Down 2.3% - Here's Why

Key Points

• Bloom Energy's stock fell by 2.3% during mid-day trading, closing at $108.91 after declining from a previous close of $111.50.
• Analysts have mixed opinions on Bloom Energy, with a consensus rating of "Hold" and a target price of $64.20, while some firms increased their target prices significantly.
• Insiders have recently sold a substantial amount of stock, with over 300,000 shares sold in the past three months, indicating potential caution about the company's prospects.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s stock price fell 2.3% during mid-day trading on Monday . The company traded as low as $108.21 and last traded at $108.91. 8,344,674 shares traded hands during trading, a decline of 4% from the average session volume of 8,680,216 shares. The stock had previously closed at $111.50.

Wall Street Analyst Weigh In

BE has been the topic of a number of recent analyst reports. Susquehanna upped their target price on Bloom Energy from $43.00 to $105.00 and gave the company a "positive" rating in a research report on Monday, October 13th. BMO Capital Markets raised their target price on Bloom Energy from $33.00 to $97.00 and gave the company a "market perform" rating in a research note on Tuesday, October 14th. Bank of America increased their price objective on Bloom Energy from $24.00 to $26.00 and gave the stock an "underperform" rating in a research note on Monday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Bloom Energy in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group downgraded Bloom Energy from a "hold" rating to an "underperform" rating and raised their price target for the stock from $24.00 to $31.00 in a research note on Wednesday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $64.20.

Bloom Energy Stock Performance

The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18. The firm has a market cap of $25.49 billion, a price-to-earnings ratio of 2,723.51, a price-to-earnings-growth ratio of 176.86 and a beta of 3.48. The stock has a fifty day moving average price of $70.65 and a 200 day moving average price of $39.48.

Bloom Energy (NYSE:BE - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.08. The firm had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company's revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.06) EPS. Bloom Energy has set its FY 2025 guidance at EPS. As a group, analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 37,955 shares of the firm's stock in a transaction that occurred on Friday, August 29th. The stock was 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 owned 2,378,663 shares in the company, valued at approximately $126,996,817.57. This trade represents a 1.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 25,000 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $52.00, for a total value of $1,300,000.00. Following the completion of the sale, the insider owned 225,949 shares of the company's stock, valued at $11,749,348. This represents a 9.96% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 301,193 shares of company stock worth $14,893,710. Insiders own 3.50% of the company's stock.

Institutional Trading of Bloom Energy

A number of hedge funds have recently modified their holdings of BE. Banque Transatlantique SA lifted its position in shares of Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after acquiring an additional 1,161 shares during the period. Harbour Investments Inc. lifted its position in shares of Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after buying an additional 1,512 shares during the period. Elevation Point Wealth Partners LLC bought a new position in shares of Bloom Energy during the 2nd quarter worth approximately $36,000. NewEdge Advisors LLC lifted its position in shares of Bloom Energy by 674.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after buying an additional 1,626 shares during the period. Finally, Vision Financial Markets LLC bought a new position in shares of Bloom Energy during the 1st quarter worth approximately $39,000. 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.

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