Bloom Energy (NYSE:BE) Stock Price Down 4%

Shares of Bloom Energy Co. (NYSE:BE) were down 4% during mid-day trading on Monday . The stock traded as low as $9.23 and last traded at $9.24. Approximately 1,589,626 shares traded hands during mid-day trading, a decline of 71% from the average daily volume of 5,536,678 shares. The stock had previously closed at $9.63.

Analysts Set New Price Targets

Several equities research analysts have issued reports on BE shares. KeyCorp lowered shares of Bloom Energy from an “overweight” rating to a “sector weight” rating in a research note on Friday, February 16th. Robert W. Baird upgraded shares of Bloom Energy from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $22.00 in a research note on Wednesday, January 10th. BTIG Research started coverage on shares of Bloom Energy in a research note on Thursday, January 25th. They issued a “buy” rating and a $21.00 price target on the stock. BMO Capital Markets lowered their price target on shares of Bloom Energy from $11.00 to $10.00 and set a “market perform” rating on the stock in a research note on Friday, February 16th. Finally, Evercore ISI began coverage on shares of Bloom Energy in a research report on Monday, April 1st. They issued an “outperform” rating and a $21.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $16.69.

Bloom Energy Stock Up 5.5 %

The firm has a market cap of $2.21 billion, a P/E ratio of -6.78 and a beta of 2.79. 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 firm’s fifty day moving average is $10.16 and its 200 day moving average is $11.71.

Bloom Energy (NYSE:BE) last announced its earnings results on Thursday, February 15th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.11. The business had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. Bloom Energy had a negative net margin of 22.66% and a negative return on equity of 23.88%. As a group, equities research analysts anticipate that Bloom Energy Co. will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the business’s stock in a transaction dated 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 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 the SEC website. In other Bloom Energy news, EVP Shawn Marie Soderberg sold 13,120 shares of the business’s stock in a transaction dated 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 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 the SEC website. Also, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the completion of the sale, the chief executive officer now directly 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. In the last 90 days, insiders sold 74,989 shares of company stock valued at $725,292. Company insiders own 3.50% of the company’s stock.

Institutional Trading of Bloom Energy

Institutional investors have recently bought and sold shares of the business. Millburn Ridgefield Corp bought a new stake in Bloom Energy in the 3rd quarter valued at about $33,000. Quest Partners LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $51,000. Allspring Global Investments Holdings LLC raised its position in shares of Bloom Energy by 17.0% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 7,687 shares of the company’s stock valued at $102,000 after buying an additional 1,117 shares in the last quarter. Fairman Group LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at approximately $146,000. Finally, AM Investment Strategies LLC acquired a new position in shares of Bloom Energy in the 3rd quarter valued at approximately $133,000. 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.