Bloom Energy (NYSE:BE) Trading Down 4%

Bloom Energy Co. (NYSE:BE) was down 4% on Monday . The stock traded as low as $9.23 and last traded at $9.24. Approximately 1,589,626 shares were traded during trading, a decline of 71% from the average daily volume of 5,536,678 shares. The stock had previously closed at $9.63.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BE shares. JPMorgan Chase & Co. downgraded Bloom Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $14.00 in a research note on Friday, February 16th. Royal Bank of Canada decreased their price target on Bloom Energy from $21.00 to $14.00 and set an “outperform” rating on the stock in a research note on Friday, February 16th. Susquehanna decreased their price target on Bloom Energy from $18.00 to $16.00 and set a “positive” rating on the stock in a research note on Wednesday, March 27th. Redburn Atlantic began coverage on Bloom Energy in a research note on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 price target on the stock. Finally, BMO Capital Markets cut their price target on Bloom Energy from $11.00 to $10.00 and set a “market perform” rating for the company in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Moderate Buy” and an average price target of $16.69.

Bloom Energy Stock Down 3.5 %

The company has a quick ratio of 2.53, a current ratio of 3.60 and a debt-to-equity ratio of 2.41. The business has a fifty day moving average of $10.25 and a 200 day moving average of $11.73.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Thursday, February 15th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The firm had revenue of $356.92 million during the quarter, compared to the consensus estimate of $481.90 million. On average, research analysts anticipate that Bloom Energy Co. will post -0.17 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 8,963 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the sale, the insider now directly owns 168,003 shares in the company, valued at approximately $1,656,509.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the sale, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Shawn Marie Soderberg sold 8,963 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $9.86, for a total value of $88,375.18. Following the completion of the sale, the insider now owns 168,003 shares of the company’s stock, valued at approximately $1,656,509.58. The disclosure for this sale can be found here. Insiders have sold 74,989 shares of company stock worth $725,292 over the last quarter. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

Several hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC bought a new position in Bloom Energy during the third quarter valued at about $2,974,000. DAVENPORT & Co LLC bought a new stake in Bloom Energy during the third quarter worth about $304,000. B & T Capital Management DBA Alpha Capital Management grew its stake in Bloom Energy by 5.2% during the third quarter. B & T Capital Management DBA Alpha Capital Management now owns 161,662 shares of the company’s stock worth $2,144,000 after buying an additional 8,045 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Bloom Energy by 7.0% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 34,725 shares of the company’s stock worth $460,000 after buying an additional 2,270 shares during the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in shares of Bloom Energy by 65.2% during the third quarter. Pinnacle Associates Ltd. now owns 582,039 shares of the company’s stock worth $7,718,000 after purchasing an additional 229,639 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.