Bloom Energy (NYSE:BE) Stock Price Down 3.4% – Time to Sell?

Shares of Bloom Energy Co. (NYSE:BE) traded down 3.4% during mid-day trading on Monday . The company traded as low as $10.28 and last traded at $10.38. 362,762 shares traded hands during trading, a decline of 94% from the average session volume of 5,822,400 shares. The stock had previously closed at $10.74.

Analysts Set New Price Targets

A number of research firms have recently commented on BE. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price target on shares of Bloom Energy in a research report on Thursday, June 20th. JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Piper Sandler upped their target price on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Truist Financial upped their target price on shares of Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a research report on Monday, August 12th. Finally, Bank of America upped their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $15.88.

Bloom Energy Trading Down 2.4 %

The stock has a market capitalization of $2.38 billion, a P/E ratio of -7.64 and a beta of 2.69. The firm’s 50 day moving average price is $10.87 and its 200 day moving average price is $12.20. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). The firm had revenue of $335.80 million during the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The company’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.32) earnings per share. As a group, equities research analysts expect that Bloom Energy Co. will post -0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 2,094 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total value of $30,425.82. Following the completion of the transaction, the insider now directly owns 168,867 shares of the company’s stock, valued at $2,453,637.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Bloom Energy by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock valued at $289,026,000 after buying an additional 307,627 shares during the last quarter. DekaBank Deutsche Girozentrale grew its holdings in shares of Bloom Energy by 762.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock valued at $5,712,000 after buying an additional 446,074 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Bloom Energy by 99,266.7% during the first quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock valued at $1,642,000 after buying an additional 145,922 shares during the last quarter. DigitalBridge Group Inc. grew its holdings in shares of Bloom Energy by 66.3% during the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the last quarter. Finally, Artemis Investment Management LLP raised its position in Bloom Energy by 20.5% in the third quarter. Artemis Investment Management LLP now owns 738,673 shares of the company’s stock worth $7,800,000 after acquiring an additional 125,757 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.