Bloom Energy Co. (NYSE:BE – Get Free Report) shares traded down 2.9% during mid-day trading on Friday after UBS Group lowered their price target on the stock from $25.00 to $23.00. UBS Group currently has a buy rating on the stock. Bloom Energy traded as low as $11.62 and last traded at $11.63. 642,724 shares were traded during mid-day trading, a decline of 90% from the average session volume of 6,166,521 shares. The stock had previously closed at $11.98.
Several other equities research analysts have also recently weighed in on BE. Bank of America increased their price target on Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research note on Wednesday, July 17th. Wells Fargo & Company raised their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, May 20th. TD Cowen upped their price objective on shares of Bloom Energy from $10.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, May 10th. Evercore ISI lowered their target price on shares of Bloom Energy from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. Finally, BTIG Research upped their price target on shares of Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 6th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.08.
Insider Buying and Selling
In related news, insider Shawn Marie Soderberg sold 2,094 shares of Bloom Energy stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total transaction of $30,425.82. Following the sale, the insider now directly owns 168,867 shares in the company, valued at $2,453,637.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 8.81% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Bloom Energy
Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Bloom Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after acquiring an additional 156,434 shares in the last quarter. Norges Bank purchased a new stake in Bloom Energy in the 4th quarter worth approximately $82,678,000. Coatue Management LLC boosted its holdings in Bloom Energy by 28.3% in the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after purchasing an additional 978,053 shares during the period. Electron Capital Partners LLC grew its position in shares of Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after purchasing an additional 1,790,733 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Bloom Energy by 1.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,604,107 shares of the company’s stock worth $23,741,000 after purchasing an additional 25,437 shares during the period. Hedge funds and other institutional investors own 77.04% of the company’s stock.
Bloom Energy Stock Down 3.1 %
The company has a market cap of $2.64 billion, a PE ratio of -8.65 and a beta of 2.80. The stock has a 50-day moving average of $13.12 and a 200-day moving average of $12.01. The company has a quick ratio of 2.97, a current ratio of 4.45 and a debt-to-equity ratio of 2.56.
Bloom Energy (NYSE:BE – Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The company had revenue of $335.80 million for the quarter, compared to analysts’ expectations of $307.73 million. Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. Bloom Energy’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.32) earnings per share. Sell-side analysts predict that Bloom Energy Co. will post -0.26 earnings per share for the current fiscal year.
About Bloom Energy
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.