Bloom Energy (NYSE:BE) Shares Down 5.3% – Should You Sell?

Bloom Energy Co. (NYSE:BE)’s stock price was down 5.3% during mid-day trading on Thursday . The stock traded as low as $22.13 and last traded at $22.21. Approximately 2,032,119 shares were traded during mid-day trading, a decline of 69% from the average daily volume of 6,556,809 shares. The stock had previously closed at $23.46.

Analysts Set New Price Targets

BE has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. Robert W. Baird boosted their target price on Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Truist Financial reduced their price objective on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research note on Wednesday, October 16th. Finally, Piper Sandler raised their target price on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.45.

Bloom Energy Trading Down 3.7 %

The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The business has a 50 day moving average of $17.76 and a two-hundred day moving average of $14.18. The firm has a market cap of $5.17 billion, a P/E ratio of -40.36 and a beta of 3.04.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the sale, the insider now directly owns 168,561 shares in the company, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,975 shares of company stock valued at $3,045,019 in the last quarter. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

A number of institutional investors and hedge funds have recently bought and sold shares of BE. Millburn Ridgefield Corp boosted its stake in shares of Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. Xponance Inc. raised its position in shares of Bloom Energy by 7.8% in the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after acquiring an additional 903 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its stake in shares of Bloom Energy by 3.9% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after purchasing an additional 1,349 shares during the period. Arizona State Retirement System boosted its position in shares of Bloom Energy by 2.7% during the 2nd quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after purchasing an additional 1,470 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy during the third quarter worth approximately $34,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.