Bloom Energy (NYSE:BE) Stock Price Down 3.3%

Bloom Energy Co. (NYSE:BEGet Free Report)’s share price traded down 3.3% during trading on Wednesday . The stock traded as low as $11.34 and last traded at $11.36. 349,742 shares were traded during trading, a decline of 94% from the average session volume of 5,505,269 shares. The stock had previously closed at $11.75.

Analysts Set New Price Targets

Several analysts recently commented on the company. Piper Sandler dropped their target price on Bloom Energy from $14.00 to $11.00 and set a “neutral” rating on the stock in a report on Friday, February 16th. Royal Bank of Canada dropped their price objective on Bloom Energy from $21.00 to $14.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. BMO Capital Markets dropped their price objective on Bloom Energy from $11.00 to $10.00 and set a “market perform” rating on the stock in a report on Friday, February 16th. Robert W. Baird raised Bloom Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $16.00 to $22.00 in a report on Wednesday, January 10th. Finally, Raymond James dropped their price objective on Bloom Energy from $20.00 to $16.00 and set an “outperform” rating on the stock in a report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.69.

Check Out Our Latest Stock Report on Bloom Energy

Bloom Energy Trading Down 2.2 %

The company has a debt-to-equity ratio of 2.41, a quick ratio of 2.53 and a current ratio of 3.60. The stock has a 50-day moving average of $10.45 and a 200 day moving average of $11.95.

Bloom Energy (NYSE:BEGet Free Report) last announced its quarterly earnings data on Thursday, February 15th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The firm had revenue of $356.92 million for the quarter, compared to the consensus estimate of $481.90 million. On average, research analysts predict that Bloom Energy Co. will post -0.17 earnings per share for the current year.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of Bloom Energy stock in a transaction on Monday, March 18th. The stock was 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 in the company, valued at $26,323,401.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction on Monday, March 18th. The stock was 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 in the company, valued at approximately $26,323,401.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the sale, the executive vice president now owns 73,946 shares in the company, valued at approximately $690,655.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,782 shares of company stock worth $658,463. 8.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fairman Group LLC acquired a new position in Bloom Energy during the 4th quarter worth $146,000. Healthcare of Ontario Pension Plan Trust Fund grew its stake in Bloom Energy by 33.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 477,248 shares of the company’s stock worth $7,063,000 after purchasing an additional 118,595 shares in the last quarter. Vanguard Group Inc. grew its stake in Bloom Energy by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock worth $289,026,000 after purchasing an additional 307,627 shares in the last quarter. Electron Capital Partners LLC acquired a new position in shares of Bloom Energy during the 4th quarter worth about $27,796,000. Finally, FIL Ltd boosted its position in shares of Bloom Energy by 47.7% during the 4th quarter. FIL Ltd now owns 137,898 shares of the company’s stock worth $2,041,000 after acquiring an additional 44,550 shares in the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

About Bloom Energy

(Get Free Report)

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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