Bloom Energy (NYSE:BE) Trading Down 9.6% - Should You Sell?

Key Points

• Bloom Energy's stock price decreased by 9.6% to $94.35, with trading volume significantly higher at over 16 million shares, marking an 86% increase from the average.
• Analysts have upgraded their price targets for Bloom Energy, with UBS setting a target of $115 and HSBC increasing it to $100, while the consensus rating remains a "Hold" with an average target of $65.70.
• Bloom Energy reported a quarterly revenue increase of 19.5% year-over-year, with earnings per share of $0.10, outperforming expectations and strong liquidity ratios indicating financial stability.

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) fell 9.6% during trading on Wednesday . The stock traded as low as $88.23 and last traded at $94.35. 16,200,651 shares were traded during trading, an increase of 86% from the average session volume of 8,722,412 shares. The stock had previously closed at $104.38.

Analysts Set New Price Targets

BE has been the subject of a number of analyst reports. UBS Group upped their price objective on shares of Bloom Energy to $115.00 and gave the stock a "buy" rating in a research report on Tuesday, October 14th. Robert W. Baird upped their price objective on shares of Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a research report on Thursday, September 4th. HSBC reiterated a "hold" rating and issued a $100.00 price objective (up previously from $44.00) on shares of Bloom Energy in a research report on Thursday, October 9th. Wells Fargo & Company upped their price objective on shares of Bloom Energy to $95.00 and gave the stock an "equal weight" rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Bloom Energy from $40.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $65.70.

Bloom Energy Price Performance

The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The stock's 50-day simple moving average is $71.91 and its two-hundred day simple moving average is $39.93. The company has a market capitalization of $22.08 billion, a price-to-earnings ratio of 2,359.26, a PEG ratio of 172.99 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 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. The company had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. Equities research analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Transactions at Bloom Energy

In related news, insider Satish Chitoori sold 20,000 shares of the business's 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 in the company, valued at approximately $10,552,185. The trade was a 7.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 45,000 shares of the business's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $43.31, for a total transaction of $1,948,950.00. Following the transaction, the insider owned 229,682 shares in the company, valued at $9,947,527.42. The trade was a 16.38% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 301,193 shares of company stock valued at $14,893,710. Company insiders own 3.50% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its position in Bloom Energy by 3.3% during the third quarter. CWM LLC now owns 5,111 shares of the company's stock worth $432,000 after acquiring an additional 162 shares during the last quarter. Prospera Financial Services Inc boosted its position in Bloom Energy by 0.3% during the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock worth $2,285,000 after acquiring an additional 313 shares during the last quarter. GAMMA Investing LLC boosted its position in Bloom Energy by 14.1% during the third quarter. GAMMA Investing LLC now owns 2,708 shares of the company's stock worth $229,000 after acquiring an additional 335 shares during the last quarter. Ameritas Investment Partners Inc. increased its position in Bloom Energy by 2.1% during the second quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company's stock worth $500,000 after purchasing an additional 425 shares during the last quarter. Finally, Blair William & Co. IL increased its position in Bloom Energy by 2.8% during the second quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock worth $389,000 after purchasing an additional 437 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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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