Bloom Energy (NYSE:BE) Trading Down 9.1% - Should You Sell?

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s stock price dropped 9.1% during trading on Tuesday . The stock traded as low as $21.65 and last traded at $21.74. Approximately 1,969,564 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 6,215,908 shares. The stock had previously closed at $23.92.

Analyst Ratings Changes

A number of research analysts have commented on BE shares. Royal Bank Of Canada set a $26.00 price objective on Bloom Energy in a research note on Monday, April 14th. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a report on Tuesday, April 8th. Redburn Atlantic lowered shares of Bloom Energy from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $14.50 to $10.00 in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group reduced their target price on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $22.97.

Bloom Energy Stock Performance

The company has a fifty day moving average of $20.13 and a two-hundred day moving average of $21.73. The stock has a market capitalization of $5.63 billion, a P/E ratio of -484.70 and a beta of 3.22. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The business had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. During the same period in the previous year, the business earned ($0.17) EPS. The business's quarterly revenue was up 38.5% on a year-over-year basis. On average, equities analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the completion of the transaction, the chief executive officer directly owned 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Maciej Kurzymski sold 8,733 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $22.79, for a total value of $199,025.07. Following the sale, the insider owned 109,860 shares in the company, valued at $2,503,709.40. The trade was a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,501 shares of company stock valued at $1,236,191 in the last ninety days. 3.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smartleaf Asset Management LLC lifted its stake in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after buying an additional 934 shares during the last quarter. Banque Transatlantique SA increased its holdings in shares of Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after acquiring an additional 1,161 shares during the period. Harbour Investments Inc. increased its holdings in shares of Bloom Energy by 2,160.0% in the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after acquiring an additional 1,512 shares during the period. Jones Financial Companies Lllp lifted its position in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after purchasing an additional 812 shares during the last quarter. Finally, Quarry LP acquired a new position in Bloom Energy during the 4th quarter valued at about $35,000. 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.