Bloom Energy (NYSE:BE) Trading Down 1.1% - Should You Sell?

Key Points

• Bloom Energy's stock price fell 1.1% to $115.26 amid increased trading volume, with over 13 million shares traded during the session.
• Several analysts have recently upgraded their price targets for Bloom Energy, with BTIG Research raising it from $42.00 to $80.00 and JPMorgan Chase increasing it from $40.00 to $90.00, indicating strong confidence in the company's potential.
• The company's recent earnings report showed a 19.5% increase in revenue year-over-year and an EPS of $0.10, surpassing analysts' expectations of $0.02.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price fell 1.1% during mid-day trading on Thursday . The stock traded as low as $112.72 and last traded at $115.26. 13,320,866 shares were traded during mid-day trading, an increase of 54% from the average session volume of 8,673,290 shares. The stock had previously closed at $116.58.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BE shares. BTIG Research boosted their price objective on shares of Bloom Energy from $42.00 to $80.00 and gave the company a "buy" rating in a report on Monday, September 29th. Roth Capital boosted their price objective on shares of Bloom Energy from $34.00 to $73.00 and gave the company a "neutral" rating in a report on Friday, September 19th. Bank of America boosted their price objective on shares of Bloom Energy from $21.00 to $24.00 and gave the company an "underperform" rating in a report on Tuesday, September 23rd. Zacks Research raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Friday, October 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Bloom Energy from $40.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Two 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 given a Sell rating to the stock. Based on data from MarketBeat.com, Bloom Energy has an average rating of "Hold" and an average price target of $61.70.

Bloom Energy Trading Down 1.1%

The firm has a market capitalization of $26.97 billion, a PE ratio of 2,882.22, a PEG ratio of 180.92 and a beta of 3.48. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The stock's fifty day simple moving average is $66.15 and its 200 day simple moving average is $37.30.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results 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 net margin of 1.45% and a return on equity of 6.80%. The business had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. During the same period in the prior year, the company earned ($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, sell-side analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Maciej Kurzymski sold 2,474 shares of the company's stock in a transaction that occurred on Tuesday, September 16th. The shares were 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 $7,496,175.78. This represents a 2.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 25,000 shares of the company's stock in a transaction that occurred on Thursday, August 28th. The stock was 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 of the company's stock, valued at approximately $11,749,348. The trade was a 9.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 301,193 shares of company stock valued at $14,893,710 in the last quarter. Insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently modified their holdings of BE. Norges Bank bought a new position in shares of Bloom Energy during the second quarter worth $57,821,000. Man Group plc boosted its position in shares of Bloom Energy by 177.4% during the second 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 during the last quarter. Tree Line Advisors Hong Kong Ltd. bought a new position in shares of Bloom Energy during the first quarter worth $22,609,000. Driehaus Capital Management LLC bought a new position in shares of Bloom Energy during the first quarter worth $21,066,000. Finally, Goldman Sachs Group Inc. boosted its position in shares of Bloom Energy by 50.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company's stock worth $49,127,000 after acquiring an additional 836,810 shares during the last quarter. Institutional investors own 77.04% of the company's stock.

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.

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.