Bloom Energy (NYSE:BE) Trading Down 3.6% – What’s Next?

Bloom Energy Co. (NYSE:BE)’s share price fell 3.6% during trading on Thursday . The company traded as low as $23.51 and last traded at $23.90. 998,771 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 6,447,089 shares. The stock had previously closed at $24.80.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group lowered Bloom Energy from a “buy” rating to a “hold” rating and dropped their target price for the company from $15.00 to $11.00 in a research report on Friday, September 6th. Morgan Stanley lifted their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday. HSBC cut Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a report on Wednesday. UBS Group lowered their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Royal Bank of Canada raised their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy presently has an average rating of “Moderate Buy” and a consensus target price of $17.55.

Bloom Energy Stock Down 1.2 %

The stock’s fifty day simple moving average is $11.64 and its 200-day simple moving average is $12.53. The stock has a market cap of $5.60 billion, a P/E ratio of -44.27 and a beta of 2.71. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Bloom Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock worth $221,262,000 after purchasing an additional 156,434 shares during the period. Electron Capital Partners LLC raised its stake in Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after buying an additional 1,790,733 shares during the last quarter. JAT Capital Mgmt LP boosted its position in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after acquiring an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. increased its holdings in Bloom Energy by 66.3% in the second quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its holdings in shares of Bloom Energy by 48.6% during the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock worth $10,644,000 after buying an additional 284,298 shares in the last quarter. 77.04% of the stock is currently owned by 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.