Bloom Energy (NYSE:BE) Shares Down 16.4% on Insider Selling

Bloom Energy Corporation (NYSE:BE)’s stock price fell 16.4% on Thursday following insider selling activity. The stock traded as low as $156.00 and last traded at $167.5080. 36,853,257 shares were traded during mid-day trading, an increase of 175% from the average session volume of 13,383,869 shares. The stock had previously closed at $200.40.

Specifically, Director Barbara Burger sold 2,333 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The stock was sold at an average price of $215.05, for a total transaction of $501,711.65. Following the transaction, the director owned 36,607 shares of the company’s stock, valued at approximately $7,872,335.35. This trade represents a 5.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Chambers sold 8,828 shares of the business’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $203.43, for a total value of $1,795,880.04. Following the completion of the sale, the director directly owned 199,505 shares of the company’s stock, valued at $40,585,302.15. The trade was a 4.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Bloom Energy in a research report on Monday, October 19th. BMO Capital Markets lowered Bloom Energy from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Zacks Research cut Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 2nd. Truist Financial increased their price objective on Bloom Energy from $218.00 to $240.00 and gave the company a “hold” rating in a report on Friday, October 16th. Finally, TD Cowen raised Bloom Energy to a “hold” rating in a report on Monday, October 5th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $263.05.

Key Headlines Impacting Bloom Energy

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 Stock Performance

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

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, October 22nd. The company reported $0.94 EPS for the quarter, topping the consensus estimate of $0.69 by $0.25. Bloom Energy had a return on equity of 45.29% and a net margin of 13.53%. The business had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $0.15 earnings per share. The company’s quarterly revenue was up 138.1% compared to the same quarter last year. On average, analysts expect that Bloom Energy Corporation will post 2.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BE. Montanova Capital LLC purchased a new position in Bloom Energy in the 2nd quarter valued at about $10,231,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of 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 valued at $401,849,000 after acquiring an additional 583,135 shares during the last quarter. Militia Capital Management LLC bought a new position in Bloom Energy during the first quarter worth $813,000. Assenagon Asset Management S.A. lifted its stake in Bloom Energy by 3,398.3% during the second quarter. Assenagon Asset Management S.A. now owns 239,877 shares of the company’s stock worth $72,611,000 after purchasing an additional 233,020 shares during the last quarter. Finally, Zweig DiMenna Associates LLC bought a new position in Bloom Energy during the first quarter worth $8,468,000. Institutional investors and hedge funds 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.