Bloom Energy (NYSE:BE) Trading Down 12.7% – What’s Next?

Bloom Energy Corporation (NYSE:BE) shares traded down 12.7% on Friday . The stock traded as low as $94.24 and last traded at $95.16. 16,234,221 shares changed hands during mid-day trading, an increase of 67% from the average session volume of 9,712,969 shares. The stock had previously closed at $108.99.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. HSBC raised Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Wednesday, October 29th. UBS Group boosted their target price on Bloom Energy to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Zacks Research lowered Bloom Energy from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 3rd. Jefferies Financial Group reissued an “underperform” rating and issued a $53.00 price target on shares of Bloom Energy in a report on Friday, October 31st. Finally, Susquehanna upped their price objective on shares of Bloom Energy to $157.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus target price of $93.77.

Bloom Energy Trading Down 12.7%

The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The stock has a 50-day simple moving average of $110.13 and a 200 day simple moving average of $65.30. The company has a market cap of $22.51 billion, a price-to-earnings ratio of 527.67, a PEG ratio of 59.99 and a beta of 3.00.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $519.05 million during the quarter, compared to analysts’ expectations of $425.18 million. During the same period last year, the business posted ($0.01) earnings per share. The company’s revenue for the quarter was up 57.1% compared to the same quarter last year. As a group, equities research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In related news, Director Mary K. Bush sold 36,000 shares of the business’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $142.82, for a total transaction of $5,141,520.00. Following the completion of the transaction, the director directly owned 133,524 shares in the company, valued at $19,069,897.68. The trade was a 21.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 36,666 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total transaction of $5,169,906.00. Following the completion of the sale, the insider directly owned 225,949 shares in the company, valued at approximately $31,858,809. The trade was a 13.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 119,589 shares of company stock worth $16,439,742 in the last ninety days. 3.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently modified their holdings of BE. MRP Capital Investments LLC purchased a new stake in shares of Bloom Energy in the third quarter worth about $393,000. Swiss Life Asset Management Ltd acquired a new position in Bloom Energy in the third quarter valued at approximately $846,000. Trust Investment Advisors purchased a new stake in Bloom Energy in the 3rd quarter worth approximately $1,197,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Bloom Energy during the 3rd quarter worth approximately $1,936,000. Finally, Centaurus Financial Inc. acquired a new stake in shares of Bloom Energy during the 3rd quarter worth approximately $129,000. 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.