Bloom Energy (NYSE:BE) Stock Price Down 3.2% - Here's Why

Key Points

• Bloom Energy's stock price dropped by 3.2% to $111.43, with over 10 million shares traded, marking a significant increase in volume compared to the average session.
• Analysts have a consensus rating of "Hold" for Bloom Energy, with price targets ranging from $61.70 to $115.00, reflecting varied expectations for the company's performance.
• Recent insider transactions include the sale of 80,000 shares by key executives, indicating potential shifts in insider confidence regarding the stock.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price fell 3.2% on Friday . The company traded as low as $106.35 and last traded at $111.43. 10,296,580 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 8,681,761 shares. The stock had previously closed at $115.09.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BE. Mizuho downgraded shares of Bloom Energy from an "outperform" rating to a "neutral" rating and raised their price objective for the stock from $48.00 to $79.00 in a report on Thursday, October 2nd. Wells Fargo & Company boosted their price objective on shares of Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a research note on Friday, September 12th. Susquehanna lifted their target price on shares of Bloom Energy from $43.00 to $105.00 and gave the company a "positive" rating in a research report on Monday. Evercore ISI restated an "outperform" rating on shares of Bloom Energy in a report on Monday. Finally, UBS Group boosted their price objective on shares of Bloom Energy to $115.00 and gave the stock a "buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $61.70.

Bloom Energy Stock Down 3.2%

The stock's 50-day moving average price is $67.72 and its two-hundred day moving average price is $37.96. The stock has a market capitalization of $26.07 billion, a PE ratio of 2,786.45, a P/E/G ratio of 184.92 and a beta of 3.48. The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99.

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

Insider Transactions at Bloom Energy

In other news, insider Satish Chitoori sold 20,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the insider owned 234,493 shares in the company, valued at $10,552,185. This represents a 7.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kr Sridhar sold 60,000 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $48.97, for a total transaction of $2,938,200.00. Following the sale, the chief executive officer owned 2,324,613 shares in the company, valued at approximately $113,836,298.61. The trade was a 2.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 301,193 shares of company stock worth $14,893,710. 3.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in Bloom Energy by 2.1% during the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company's stock worth $113,790,000 after buying an additional 95,990 shares during the period. Public Investment Fund lifted its position in shares of Bloom Energy by 16.8% during the first quarter. Public Investment Fund now owns 3,803,770 shares of the company's stock worth $74,782,000 after purchasing an additional 546,372 shares during the last quarter. Fuller & Thaler Asset Management Inc. raised its holdings in shares of Bloom Energy by 29.5% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company's stock valued at $71,010,000 after acquiring an additional 821,814 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Bloom Energy by 50.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock valued at $49,127,000 after acquiring an additional 836,810 shares in the last quarter. Finally, Norges Bank purchased a new position in Bloom Energy in the second quarter valued at about $57,821,000. 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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