Bloom Energy (NYSE:BE) Stock Price Down 4.1%

Bloom Energy Co. (NYSE:BE - Get Free Report) traded down 4.1% during mid-day trading on Thursday . The company traded as low as $12.27 and last traded at $12.33. 1,062,735 shares were traded during mid-day trading, a decline of 81% from the average session volume of 5,576,861 shares. The stock had previously closed at $12.86.

Analyst Ratings Changes

BE has been the topic of several recent research reports. JPMorgan Chase & Co. downgraded Bloom Energy from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $19.00 to $14.00 in a report on Friday, February 16th. BTIG Research started coverage on Bloom Energy in a report on Thursday, January 25th. They issued a "buy" rating and a $21.00 target price on the stock. Piper Sandler lowered their price target on shares of Bloom Energy from $14.00 to $11.00 and set a "neutral" rating for the company in a report on Friday, February 16th. Redburn Atlantic began coverage on shares of Bloom Energy in a research note on Tuesday, February 6th. They issued a "neutral" rating and a $12.50 price objective on the stock. Finally, Royal Bank of Canada lowered their target price on shares of Bloom Energy from $21.00 to $14.00 and set an "outperform" rating for the company in a research note on Friday, February 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $15.74.

Bloom Energy Trading Down 4.9 %

The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97. The firm has a fifty day simple moving average of $10.81 and a two-hundred day simple moving average of $11.70. The firm has a market capitalization of $2.75 billion, a P/E ratio of -9.06 and a beta of 2.77.

Bloom Energy (NYSE:BE - Get Free Report) last released its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The business had revenue of $235.30 million for the quarter, compared to analysts' expectations of $254.06 million. Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. On average, equities research analysts anticipate that Bloom Energy Co. will post -0.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the company's stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the sale, the executive vice president now owns 73,946 shares of the company's stock, valued at approximately $690,655.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the company's stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $9.34, for a total value of $122,540.80. Following the transaction, the executive vice president now directly owns 73,946 shares in the company, valued at approximately $690,655.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the sale, the chief executive officer now owns 2,702,608 shares of the company's stock, valued at approximately $26,323,401.92. The disclosure for this sale can be found here. Insiders sold a total of 115,101 shares of company stock worth $1,203,828 in the last quarter. 3.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of BE. Deutsche Bank AG grew its stake in shares of Bloom Energy by 6.2% during the third quarter. Deutsche Bank AG now owns 971,194 shares of the company's stock valued at $12,878,000 after buying an additional 57,090 shares during the last quarter. FMR LLC grew its position in Bloom Energy by 168.8% during the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company's stock worth $46,733,000 after acquiring an additional 2,213,167 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in Bloom Energy in the 3rd quarter worth approximately $1,567,000. Vanguard Group Inc. lifted its position in Bloom Energy by 9.3% in the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company's stock valued at $254,873,000 after purchasing an additional 1,635,738 shares during the last quarter. Finally, Natixis Advisors L.P. boosted its stake in shares of Bloom Energy by 41.2% during the third quarter. Natixis Advisors L.P. now owns 41,208 shares of the company's stock valued at $546,000 after purchasing an additional 12,017 shares during the period. 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.