Bloom Energy (NYSE:BE) Stock Price Down 5.2% - Time to Sell?

Key Points

• Bloom Energy's stock price dropped 5.2% to $63.79, with trading volume decreasing by 63% compared to average session volume.
• Several analysts have raised their price targets for Bloom Energy, with current consensus ratings indicating a "Moderate Buy" and a consensus price target of $29.61.
• Insider trading activity saw significant sales, with insiders offloading over 308,477 shares worth nearly $15 million in the last 90 days, indicating potential concerns from company executives.

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) fell 5.2% on Friday . The stock traded as low as $63.61 and last traded at $63.79. 2,840,555 shares traded hands during trading, a decline of 63% from the average session volume of 7,630,864 shares. The stock had previously closed at $67.29.

Analysts Set New Price Targets

A number of research firms have recently issued reports on BE. Robert W. Baird boosted their target price on Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a report on Thursday, September 4th. Mizuho raised their price target on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Roth Capital boosted their price objective on Bloom Energy from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Susquehanna lifted their target price on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Finally, UBS Group lifted their price objective on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Two research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.61.

Bloom Energy Price Performance

The company has a 50 day moving average of $39.96 and a 200 day moving average of $27.18. The firm has a market cap of $14.89 billion, a price-to-earnings ratio of 1,591.40 and a beta of 3.28. The company has a current ratio of 4.99, a quick ratio of 3.21 and a debt-to-equity ratio of 2.18.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping 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 analysts' expectations of $382.23 million. During the same quarter last year, the company posted ($0.06) earnings per share. Bloom Energy's quarterly revenue was up 19.5% on a year-over-year basis. Bloom Energy has set its FY 2025 guidance at EPS. Equities research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity

In other Bloom Energy news, insider Satish Chitoori sold 2,128 shares of the firm's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $43.44, for a total value of $92,440.32. Following the completion of the transaction, the insider directly owned 232,365 shares of the company's stock, valued at $10,093,935.60. This trade represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Shawn Marie Soderberg sold 25,000 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $52.00, for a total transaction of $1,300,000.00. Following the completion of the transaction, the insider owned 225,949 shares in the company, valued at $11,749,348. The trade was a 9.96% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 308,477 shares of company stock worth $14,924,815. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Bloom Energy in the 2nd quarter worth approximately $57,821,000. Man Group plc increased its holdings in Bloom Energy by 177.4% in the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company's stock worth $57,239,000 after acquiring an additional 1,530,167 shares in the last quarter. Tree Line Advisors Hong Kong Ltd. purchased a new stake in Bloom Energy in the 1st quarter worth $22,609,000. Voloridge Investment Management LLC increased its holdings in Bloom Energy by 323.6% in the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after acquiring an additional 1,100,352 shares in the last quarter. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Bloom Energy during the first quarter worth $21,066,000. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.