Bloom Energy (NYSE:BE) Trading Down 17.9% – Time to Sell?

Bloom Energy Co. (NYSE:BE)’s share price dropped 17.9% during mid-day trading on Friday . The company traded as low as $15.84 and last traded at $15.88. Approximately 4,896,441 shares changed hands during trading, a decline of 25% from the average daily volume of 6,502,913 shares. The stock had previously closed at $19.34.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on BE shares. Piper Sandler lowered their price objective on shares of Bloom Energy from $33.00 to $31.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Roth Capital raised Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets reissued a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. Morgan Stanley lifted their target price on Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 20th. Finally, JPMorgan Chase & Co. increased their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.06.

Bloom Energy Trading Down 13.9 %

The stock has a market cap of $3.84 billion, a PE ratio of -29.73 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The company has a 50 day moving average of $23.31 and a two-hundred day moving average of $20.10.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its position in shares of Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after acquiring an additional 569 shares during the last quarter. Arizona State Retirement System boosted its holdings in Bloom Energy by 1.3% in the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock valued at $1,324,000 after purchasing an additional 759 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after buying an additional 812 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after buying an additional 934 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Bloom Energy by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock valued at $1,053,000 after buying an additional 1,000 shares during the period. 77.04% of the stock is 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.