Bloom Energy (NYSE:BE) Shares Down 2.4% on Analyst Downgrade

Key Points

• Bloom Energy's stock fell 2.4% following a downgrade by Mizuho from outperform to neutral, with a new price target set at $79.00, up from $48.00.
• Multiple research firms have recently modified their price targets on Bloom Energy, with estimates ranging from as low as $24.00 to as high as $79.00, indicating varied investor sentiment.
• Insider trading activity included significant sales by insiders, with over 302,000 shares sold in the last quarter, highlighting potential concerns about the stock's future performance.

Bloom Energy Corporation (NYSE:BE - Get Free Report) dropped 2.4% during trading on Thursday after Mizuho downgraded the stock from an outperform rating to a neutral rating. Mizuho now has a $79.00 price target on the stock, up from their previous price target of $48.00. Bloom Energy traded as low as $85.03 and last traded at $87.99. Approximately 15,330,876 shares changed hands during trading, an increase of 83% from the average daily volume of 8,390,859 shares. The stock had previously closed at $90.19.

Several other research firms have also weighed in on BE. Wells Fargo & Company boosted their target price on Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a report on Friday, September 12th. Robert W. Baird boosted their target price on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Jefferies Financial Group downgraded Bloom Energy from a "hold" rating to an "underperform" rating and lifted their price target for the stock from $24.00 to $31.00 in a research report on Wednesday, September 24th. Morgan Stanley lifted their price target on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Royal Bank Of Canada set a $75.00 price target on Bloom Energy in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $43.82.

Insider Buying and Selling

In other Bloom Energy news, insider Shawn Marie Soderberg sold 45,000 shares of the business's stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total value of $1,948,950.00. Following the transaction, the insider owned 229,682 shares of the company's stock, valued at approximately $9,947,527.42. The trade was a 16.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maciej Kurzymski sold 2,474 shares of the business's stock in a transaction on Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total value of $174,342.78. Following the completion of the transaction, the insider directly owned 106,374 shares in the company, valued at approximately $7,496,175.78. This represents a 2.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 302,205 shares of company stock valued at $14,919,283. Insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in shares of Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company's stock valued at $1,704,000 after acquiring an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Bloom Energy by 634.2% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock valued at $11,763,000 after purchasing an additional 516,833 shares during the last quarter. Teacher Retirement System of Texas increased its holdings in Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after purchasing an additional 63,875 shares during the last quarter. Comerica Bank increased its holdings in Bloom Energy by 5.8% in the first quarter. Comerica Bank now owns 88,554 shares of the company's stock valued at $1,741,000 after purchasing an additional 4,885 shares during the last quarter. Finally, Torray Investment Partners LLC bought a new stake in Bloom Energy in the first quarter valued at about $904,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Stock Down 2.4%

The business has a fifty day moving average of $54.31 and a 200 day moving average of $32.32. The firm has a market cap of $20.59 billion, a P/E ratio of 2,200.30 and a beta of 3.47. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18.

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

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.

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