Bloom Energy (NYSE:BE) Trading Down 3.6% - Time to Sell?

Key Points

• Bloom Energy's stock price dropped 3.6% during mid-day trading, falling from a previous close of $90.29 to around $87.08.
• Analysts have varying views on Bloom Energy, with upgrades from BTIG Research raising the price target to $80.00 and downgrades from Jefferies lowering their rating to "underperform."
• Insider sales totaled 302,205 shares valued at $14.9 million over the past three months, signaling potential concerns among executives about the stock's performance.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s stock price dropped 3.6% during mid-day trading on Monday . The company traded as low as $86.27 and last traded at $87.08. Approximately 12,240,733 shares traded hands during mid-day trading, an increase of 45% from the average daily volume of 8,441,091 shares. The stock had previously closed at $90.29.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BE shares. BTIG Research raised their price objective on shares of Bloom Energy from $42.00 to $80.00 and gave the stock a "buy" rating in a research note on Monday, September 29th. Wells Fargo & Company increased their price target on shares of Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a report on Friday, September 12th. Jefferies Financial Group lowered shares of Bloom Energy from a "hold" rating to an "underperform" rating and raised their price target for the company from $24.00 to $31.00 in a research report on Wednesday, September 24th. Evercore ISI set a $100.00 price objective on shares of Bloom Energy and gave the stock an "outperform" rating in a research report on Monday. Finally, Roth Capital increased their target price on shares of Bloom Energy from $34.00 to $73.00 and gave the stock a "neutral" rating in a research note on Friday, September 19th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.63.

Bloom Energy Stock Down 3.6%

The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The business's 50 day moving average price is $57.57 and its 200 day moving average price is $33.78. The firm has a market cap of $20.38 billion, a PE ratio of 2,177.54 and a beta of 3.48.

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

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 20,000 shares of Bloom Energy stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the transaction, the insider directly owned 234,493 shares of the company's stock, valued at $10,552,185. The trade was a 7.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aman Joshi sold 4,870 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the transaction, the insider owned 224,361 shares in the company, valued at $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 302,205 shares of company stock valued at $14,919,283 in the last three months. Company insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds have recently modified their holdings of the business. GAMMA Investing LLC raised its holdings in Bloom Energy by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 2,708 shares of the company's stock valued at $229,000 after buying an additional 335 shares during the period. Praxis Investment Management Inc. acquired a new position in shares of Bloom Energy in the third quarter worth $465,000. Corient Private Wealth LLC acquired a new position in shares of Bloom Energy in the second quarter worth $235,000. State of Wyoming acquired a new stake in shares of Bloom Energy in the second quarter valued at $138,000. Finally, Castleark Management LLC acquired a new stake in Bloom Energy in the 2nd quarter valued at about $177,000. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.