Bloom Energy (NYSE:BE) Trading Down 9.1% - What's Next?

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

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BE shares. Piper Sandler decreased their price objective on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Susquehanna lowered their price target on Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Mizuho raised shares of Bloom Energy from a "neutral" rating to an "outperform" rating and decreased their target price for the company from $28.00 to $26.00 in a research note on Monday, May 5th. Roth Mkm dropped their target price on shares of Bloom Energy from $26.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, April 16th. Finally, Jefferies Financial Group cut their price target on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Bloom Energy presently has a consensus rating of "Moderate Buy" and an average target price of $22.97.

Bloom Energy Price Performance

The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. The company has a market cap of $5.19 billion, a price-to-earnings ratio of -447.11 and a beta of 3.21. The business has a fifty day moving average price of $19.79 and a 200 day moving average price of $21.74.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.03 EPS 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 company had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same period in the prior year, the company earned ($0.17) EPS. Bloom Energy's revenue was up 38.5% compared to the same quarter last year. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Bloom Energy

In related news, insider Aman Joshi sold 4,658 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $91,855.76. Following the sale, the insider owned 131,371 shares of the company's stock, valued at $2,590,636.12. The trade was a 3.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 1,496 shares of Bloom Energy stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $19.89, for a total value of $29,755.44. Following the completion of the transaction, the insider directly owned 229,682 shares in the company, valued at approximately $4,568,374.98. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 62,501 shares of company stock worth $1,236,191 over the last quarter. Insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently added to or reduced their stakes in BE. Norges Bank acquired a new stake in shares of Bloom Energy during the 4th quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in Bloom Energy in the fourth quarter valued at $61,968,000. Trivest Advisors Ltd bought a new stake in Bloom Energy in the fourth quarter valued at $30,539,000. Tree Line Advisors Hong Kong Ltd. acquired a new position in shares of Bloom Energy during the first quarter valued at about $22,609,000. Finally, Voloridge Investment Management LLC boosted its position in shares of Bloom Energy by 323.6% during the 4th quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after purchasing an additional 1,100,352 shares in the last quarter. 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.

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