Bloom Energy (NYSE:BE) Stock Falls 16.4% After Insider Selling

Bloom Energy Corporation (NYSE:BE) fell 16.4% during mid-day trading on Thursday after an insider sold shares in the company. The stock traded as low as $156.00 and last traded at $167.5080. 36,853,257 shares traded hands during mid-day trading, an increase of 175% from the average daily volume of 13,383,869 shares. The stock had previously closed at $200.40.

Specifically, Director Barbara Burger sold 2,333 shares of Bloom Energy stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $215.05, for a total value of $501,711.65. Following the transaction, the director owned 36,607 shares in the company, valued at $7,872,335.35. This trade represents a 5.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Chambers sold 8,828 shares of the business’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $203.43, for a total transaction of $1,795,880.04. Following the sale, the director directly owned 199,505 shares of the company’s stock, valued at $40,585,302.15. This represents a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Roth Capital set a $230.00 price objective on Bloom Energy in a report on Friday, October 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a research report on Monday, October 19th. Zacks Research lowered Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Clear Str upgraded Bloom Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Finally, BMO Capital Markets lowered Bloom Energy from an “outperform” rating to a “market perform” rating in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $263.05.

More Bloom Energy News

Here are the key news stories impacting Bloom Energy this week:

• Positive Sentiment: BE shares rebounded as fuel-cell stocks clawed back some post-election losses; a technical-trading report also noted the stock found support near $163. Fuel-cell stocks rebound
• Positive Sentiment: Bloom’s agreement with NTT DATA to deploy 900 megawatts of onsite power across data-center projects supports the company’s growth opportunity in power-hungry facilities. Recent quarterly results also beat estimates, and Bloom raised its full-year outlook. NTT DATA agreement Bloom Energy outlook
• Neutral Sentiment: Director Barbara Burger sold 2,333 shares for about $502,000, reducing her stake by roughly 6%; she still held 36,607 shares after the sale. Director share sale
• Negative Sentiment: Election-related fears about potential changes to data-center approvals and the pace of AI infrastructure investment recently pressured Bloom and other AI-power stocks. That concern remains a risk despite the NTT DATA contract. AI data-center concerns

Bloom Energy Trading Up 3.5%

The stock has a market capitalization of $51.25 billion, a price-to-earnings ratio of 106.35, a P/E/G ratio of 1.98 and a beta of 3.63. The company has a debt-to-equity ratio of 1.33, a quick ratio of 3.08 and a current ratio of 3.74. The firm has a fifty day moving average of $246.00 and a 200-day moving average of $220.98.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.25. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The firm’s quarterly revenue was up 138.1% on a year-over-year basis. As a group, equities analysts predict that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Bloom Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC boosted its stake in shares of Bloom Energy by 20,074.4% in the first quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock valued at $364,066,000 after purchasing an additional 2,673,710 shares during the period. Bank of America Corp DE lifted its holdings in Bloom Energy by 6.1% in the 1st quarter. Bank of America Corp DE now owns 2,211,880 shares of the company’s stock worth $299,688,000 after buying an additional 126,649 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Bloom Energy by 78.3% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,327,549 shares of the company’s stock worth $401,849,000 after buying an additional 583,135 shares in the last quarter. Elemental Capital Partners LLC boosted its position in Bloom Energy by 2.5% in the 3rd quarter. Elemental Capital Partners LLC now owns 1,039,031 shares of the company’s stock valued at $287,791,000 after buying an additional 25,625 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in Bloom Energy in the 2nd quarter valued at about $296,413,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Bloom Energy Company Profile

Bloom Energy Corporation develops solid oxide fuel cell technology for on-site electricity generation and hydrogen production. Its Bloom Energy Server systems generate power near the point of use, helping businesses and institutions meet electricity needs and support resilient energy operations. The company also offers solid oxide electrolyzers designed to produce hydrogen.

Founded in 2001 by K.R. Sridhar, Bloom Energy is headquartered in San Jose, California. It serves customers in the United States and international markets, including countries in Asia.