Bloom Energy (NYSE:BE) Shares Down 7.6% – Time to Sell?

Shares of Bloom Energy Corporation (NYSE:BE) were down 7.6% during mid-day trading on Monday . The stock traded as low as $100.35 and last traded at $100.9750. Approximately 5,837,480 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 9,558,819 shares. The stock had previously closed at $109.24.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BE. Morgan Stanley upped their target price on Bloom Energy to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. UBS Group lifted their target price on Bloom Energy to $115.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. TD Cowen raised their price objective on Bloom Energy to $105.00 and gave the stock a “hold” rating in a research note on Wednesday, October 29th. BTIG Research raised their target price on shares of Bloom Energy to $145.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Bloom Energy currently has a consensus rating of “Hold” and a consensus target price of $93.57.

Bloom Energy Trading Down 7.3%

The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The firm has a 50 day moving average price of $104.68 and a two-hundred day moving average price of $59.44. The company has a market cap of $23.95 billion, a price-to-earnings ratio of 606.89, a PEG ratio of 68.99 and a beta of 3.00.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to the consensus estimate of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The company’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.01) EPS. As a group, equities analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 36,666 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the transaction, the insider directly owned 225,949 shares in the company, valued at approximately $31,858,809. This represents a 13.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aman Joshi sold 4,543 shares of the firm’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $109.13, for a total transaction of $495,777.59. Following the completion of the sale, the insider owned 219,818 shares of the company’s stock, valued at $23,988,738.34. The trade was a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 119,589 shares of company stock valued at $16,439,742. 3.50% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp acquired a new stake in Bloom Energy in the 3rd quarter valued at $32,000. N.E.W. Advisory Services LLC bought a new position in shares of Bloom Energy in the third quarter valued at $32,000. Parkside Financial Bank & Trust lifted its stake in shares of Bloom Energy by 250.9% in the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after buying an additional 281 shares in the last quarter. Cranbrook Wealth Management LLC acquired a new position in shares of Bloom Energy during the third quarter valued at about $39,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Bloom Energy during the third quarter worth about $42,000. Institutional investors and hedge funds 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.