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Bloom Energy (NYSE:BE) Trading Down 4.2% - Here's What Happened

Bloom Energy logo with Energy background

Key Points

  • Bloom Energy's stock dropped 4.2% on Tuesday, closing at $104.49 after trading as low as $98.46, with trading volume increasing to approximately 9.6 million shares.
  • Analysts have raised their price targets for Bloom Energy, with BMO Capital Markets now at $97.00 and Susquehanna at $105.00, reflecting a generally optimistic outlook despite the recent stock decline.
  • Insider selling occurred recently, with notable transactions including CEO Kr Sridhar selling 60,000 shares, indicating a 2.52% decrease in his ownership of the company.
  • Interested in Bloom Energy? Here are five stocks we like better.

Bloom Energy Corporation (NYSE:BE - Get Free Report) dropped 4.2% on Tuesday . The company traded as low as $98.46 and last traded at $104.49. Approximately 9,595,015 shares were traded during trading, an increase of 11% from the average daily volume of 8,680,511 shares. The stock had previously closed at $109.06.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. BMO Capital Markets boosted their price target on Bloom Energy from $33.00 to $97.00 and gave the company a "market perform" rating in a report on Tuesday, October 14th. Robert W. Baird increased their price target on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. BTIG Research raised their price objective on Bloom Energy from $42.00 to $80.00 and gave the company a "buy" rating in a report on Monday, September 29th. Evercore ISI reaffirmed an "outperform" rating on shares of Bloom Energy in a research note on Monday, October 13th. Finally, Susquehanna increased their target price on Bloom Energy from $43.00 to $105.00 and gave the company a "positive" rating in a research report on Monday, October 13th. Two investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Bloom Energy presently has a consensus rating of "Hold" and a consensus target price of $65.70.

Check Out Our Latest Stock Analysis on BE

Bloom Energy Stock Down 4.2%

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 has a fifty day simple moving average of $70.65 and a 200 day simple moving average of $39.48. The firm has a market cap of $24.45 billion, a price-to-earnings ratio of 2,612.90, a PEG ratio of 176.86 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, beating the consensus estimate of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The firm had revenue of $401.24 million during the quarter, compared to the consensus estimate of $382.23 million. During the same period in the prior year, the company earned ($0.06) EPS. The firm's revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity

In other news, insider Maciej Kurzymski sold 2,474 shares of the business's stock in a transaction that occurred on Tuesday, September 16th. The stock was sold at an average price of $70.47, for a total transaction of $174,342.78. Following the transaction, the insider directly owned 106,374 shares in the company, valued at $7,496,175.78. The trade was a 2.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kr Sridhar sold 60,000 shares of the stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $48.97, for a total value of $2,938,200.00. Following the completion of the sale, the chief executive officer directly owned 2,324,613 shares of the company's stock, valued at approximately $113,836,298.61. This represents a 2.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,193 shares of company stock valued at $14,893,710 in the last ninety days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Bloom Energy by 54.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 24,669 shares of the company's stock valued at $485,000 after purchasing an additional 8,743 shares during the period. Palumbo Wealth Management LLC boosted its holdings in Bloom Energy by 36.2% in the 1st quarter. Palumbo Wealth Management LLC now owns 16,115 shares of the company's stock valued at $317,000 after purchasing an additional 4,284 shares during the last quarter. 3Chopt Investment Partners LLC purchased a new stake in shares of Bloom Energy in the 1st quarter valued at approximately $399,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Bloom Energy in the 1st quarter valued at approximately $5,848,000. Finally, Teacher Retirement System of Texas increased its holdings in shares of Bloom Energy by 662.4% during the 1st quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock worth $1,445,000 after buying an additional 63,875 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Company Profile

(Get Free Report)

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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