Bloom Energy (NYSE:BE) Trading Down 6.2% - Here's What Happened

Key Points

• Bloom Energy's shares dropped 6.2% during mid-day trading, closing at $43.61 after reaching a low of $42.89.
• Analysts have issued mixed ratings and target prices, with Truist Financial lowering its target to $19.00 while Wells Fargo raised theirs to $38.00.
• Insider activity has seen significant stock sales, with one insider selling 45,000 shares, indicating a 16.38% decrease in their ownership.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s stock price was down 6.2% during mid-day trading on Tuesday . The company traded as low as $42.89 and last traded at $43.61. Approximately 3,724,950 shares traded hands during trading, a decline of 49% from the average daily volume of 7,238,778 shares. The stock had previously closed at $46.50.

Wall Street Analyst Weigh In

BE has been the topic of several research reports. Wells Fargo & Company upped their target price on Bloom Energy from $22.00 to $38.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Mizuho upped their price target on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Monday, July 14th. JPMorgan Chase & Co. raised shares of Bloom Energy from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $18.00 to $33.00 in a report on Wednesday, July 9th. Piper Sandler dropped their price target on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research report on Monday, May 5th. Finally, UBS Group boosted their price target on Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, July 25th. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Bloom Energy currently has a consensus rating of "Moderate Buy" and an average target price of $26.39.

Bloom Energy Trading Up 5.8%

The company has a market cap of $11.10 billion, a price-to-earnings ratio of 1,186.55 and a beta of 3.28. The firm has a 50 day moving average price of $30.38 and a two-hundred day moving average price of $24.12. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18.

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 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 company had revenue of $401.24 million for the quarter, compared to analyst estimates of $382.23 million. During the same quarter in the prior year, the company earned ($0.06) EPS. The firm's revenue for the quarter 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 earnings per share for the current year.

Insider Activity

In other Bloom Energy news, insider Maciej Kurzymski sold 1,012 shares of the company's stock in a transaction dated Wednesday, July 16th. The shares were sold at an average price of $25.27, for a total transaction of $25,573.24. Following the sale, the insider directly owned 108,848 shares of the company's stock, valued at $2,750,588.96. This represents a 0.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Aman Joshi sold 4,870 shares of the firm's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the transaction, the insider directly owned 224,361 shares of the company's stock, 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. In the last 90 days, insiders have sold 86,522 shares of company stock worth $3,580,387. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Transatlantique SA boosted its position in Bloom Energy by 227.6% during the first quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after buying an additional 1,161 shares during the period. Harbour Investments Inc. boosted its position in Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after acquiring an additional 1,512 shares in the last quarter. Quarry LP bought a new position in Bloom Energy in the fourth quarter worth $35,000. Elevation Point Wealth Partners LLC purchased a new position in Bloom Energy during the 2nd quarter valued at about $36,000. Finally, NewEdge Advisors LLC boosted its position in shares of Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock worth $37,000 after purchasing an additional 1,626 shares in the last quarter. 77.04% of the stock is 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.