Bloom Energy (NYSE:BE) Stock Price Down 7.1% - Here's Why

Key Points

• Bloom Energy shares were down 7.1%, trading near $101.63 on Wednesday on heavy volume (≈13.54M shares, about 40% above the average).
• The company posted a strong quarter—$519M revenue (+57% YoY) and $0.15 EPS, beating estimates—but analysts remain mixed with a consensus rating of "Hold" and a consensus target of $93.77 while individual targets range as high as $157.
• Insiders have been selling recently (119,589 shares worth ~$16.4M in the last 90 days) even as institutional investors own roughly 77% of the stock, signaling insider profit-taking alongside heavy institutional exposure.

Bloom Energy Corporation (NYSE:BE - Get Free Report) dropped 7.1% on Wednesday . The stock traded as low as $100.05 and last traded at $101.6310. Approximately 13,542,800 shares changed hands during mid-day trading, an increase of 40% from the average daily volume of 9,690,532 shares. The stock had previously closed at $109.44.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on BE shares. Susquehanna boosted their price target on Bloom Energy to $157.00 and gave the company a "positive" rating in a research note on Wednesday, October 29th. Bank of America raised their target price on Bloom Energy from $26.00 to $39.00 and gave the stock an "underperform" rating in a research report on Tuesday, November 25th. Roth Capital reiterated a "neutral" rating and set a $103.00 price target on shares of Bloom Energy in a research note on Wednesday, October 29th. BMO Capital Markets set a $136.00 price objective on shares of Bloom Energy in a research note on Wednesday, October 29th. Finally, Robert W. Baird set a $157.00 price objective on shares of Bloom Energy in a report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $93.77.

Bloom Energy Stock Performance

The stock has a market capitalization of $24.04 billion, a price-to-earnings ratio of 662.11, a price-to-earnings-growth ratio of 70.60 and a beta of 3.00. The stock's 50-day simple moving average is $109.38 and its 200 day simple moving average is $63.88. 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 results on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. During the same period in the prior year, the company earned ($0.01) EPS. Bloom Energy's revenue for the quarter was up 57.1% on a year-over-year basis. Analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jim H. Snabe sold 20,000 shares of Bloom Energy stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $143.04, for a total value of $2,860,800.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Shawn Marie Soderberg sold 1,583 shares of the stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $105.97, for a total transaction of $167,750.51. Following the sale, the insider directly owned 221,633 shares in the company, valued at approximately $23,486,449.01. This represents a 0.71% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 119,589 shares of company stock valued at $16,439,742 in the last 90 days. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of BE. Graticule Asia Macro Advisors LLC acquired a new position in Bloom Energy during the 3rd quarter worth $402,494,000. Trivest Advisors Ltd raised its position in shares of Bloom Energy by 1,461.6% during the third quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company's stock worth $289,229,000 after acquiring an additional 3,201,000 shares during the last quarter. Norges Bank acquired a new position in shares of Bloom Energy during the second quarter valued at $57,821,000. Westfield Capital Management Co. LP acquired a new position in shares of Bloom Energy during the third quarter valued at $141,679,000. Finally, Man Group plc boosted its holdings in Bloom Energy by 177.4% in the second quarter. Man Group plc now owns 2,392,915 shares of the company's stock valued at $57,239,000 after acquiring an additional 1,530,167 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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