Bloom Energy (NYSE:BE) Stock Price Down 6.2% - Here's Why

Key Points

• Bloom Energy shares fell 6.2% on the day to as low as $108.14 with volume ~11.7M shares (about 20% above average), after closing the prior session at $119.18.
• Analysts are mixed: MarketBeat shows a consensus rating of "Hold" with an average price target of $93.77, although individual targets range much higher (e.g., Morgan Stanley $155) and include buy, hold and sell ratings.
• Operationally Bloom beat expectations last quarter—EPS $0.15 vs $0.08 est. and revenue $519.1M (up 57.1% YoY) —but sell-side still projects a negative full-year EPS (-$0.23), and insiders have recently sold material stakes.

Bloom Energy Corporation (NYSE:BE - Get Free Report) shares were down 6.2% on Monday . The stock traded as low as $108.14 and last traded at $111.75. Approximately 11,656,262 shares changed hands during trading, an increase of 20% from the average daily volume of 9,685,028 shares. The stock had previously closed at $119.18.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Cowen reiterated a "hold" rating on shares of Bloom Energy in a report on Wednesday, October 29th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $123.00 price target on shares of Bloom Energy in a research note on Monday, October 20th. Wells Fargo & Company increased their price objective on shares of Bloom Energy to $95.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 21st. Morgan Stanley raised their price objective on Bloom Energy to $155.00 and gave the company an "overweight" rating in a report on Wednesday, October 29th. Finally, BTIG Research upped their target price on Bloom Energy to $145.00 and gave the stock a "buy" rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $93.77.

Bloom Energy Price Performance

The business has a fifty day moving average of $108.13 and a 200 day moving average of $62.60. The firm has a market cap of $26.43 billion, a P/E ratio of 662.11, a PEG ratio of 75.27 and a beta of 3.00. The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The business's revenue for the quarter was up 57.1% compared to the same quarter last year. On average, sell-side analysts anticipate 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, insider Maciej Kurzymski sold 13,105 shares of the firm's stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the completion of the sale, the insider directly owned 93,269 shares in the company, valued at $13,439,130.21. This trade represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Aman Joshi sold 4,543 shares of Bloom Energy stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $109.13, for a total value of $495,777.59. Following the sale, the insider directly owned 219,818 shares of the company's stock, valued at approximately $23,988,738.34. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 119,589 shares of company stock worth $16,439,742. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently added to or reduced their stakes in BE. Vanguard Group Inc. boosted its stake in Bloom Energy by 6.3% in the third quarter. Vanguard Group Inc. now owns 20,807,920 shares of the company's stock valued at $1,759,726,000 after buying an additional 1,240,819 shares in the last quarter. Graticule Asia Macro Advisors LLC acquired a new position in Bloom Energy during the third quarter worth about $402,494,000. Geode Capital Management LLC lifted its holdings in shares of Bloom Energy by 2.1% in the second quarter. Geode Capital Management LLC now owns 4,756,516 shares of the company's stock worth $113,790,000 after acquiring an additional 95,990 shares during the last quarter. Public Investment Fund boosted its stake in shares of Bloom Energy by 16.8% in the 1st quarter. Public Investment Fund now owns 3,803,770 shares of the company's stock valued at $74,782,000 after purchasing an additional 546,372 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Bloom Energy by 29.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 3,611,925 shares of the company's stock valued at $71,010,000 after purchasing an additional 821,814 shares during the last quarter. Institutional investors and hedge funds 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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