Bloom Energy (NYSE:BE) Sees Unusually-High Trading Volume – Here’s Why

Shares of Bloom Energy Corporation (NYSE:BE) saw unusually-strong trading volume on Friday . Approximately 14,444,819 shares traded hands during trading, an increase of 55% from the previous session’s volume of 9,347,603 shares.The stock last traded at $79.1550 and had previously closed at $93.38.

Analysts Set New Price Targets

Several research firms have issued reports on BE. Mizuho set a $89.00 price target on shares of Bloom Energy in a research report on Wednesday, October 29th. Cowen reissued a “hold” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Bloom Energy in a research report on Thursday, October 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $123.00 target price on shares of Bloom Energy in a report on Monday, October 20th. Finally, BTIG Research lifted their price target on Bloom Energy to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $95.65.

Bloom Energy Trading Down 7.3%

The company has a quick ratio of 2.88, a current ratio of 4.40 and a debt-to-equity ratio of 1.98. The firm has a market cap of $20.48 billion, a price-to-earnings ratio of 605.17, a PEG ratio of 61.38 and a beta of 3.43. The company has a 50-day moving average price of $101.90 and a 200 day moving average price of $55.49.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.07. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The firm had revenue of $508.69 million during the quarter, compared to the consensus estimate of $425.18 million. During the same period in the prior year, the business earned ($0.01) EPS. The business’s revenue for the quarter was up 57.1% on a year-over-year basis. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Maciej Kurzymski sold 13,105 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total value of $1,888,299.45. Following the completion of the sale, the insider directly owned 93,269 shares in the company, valued at approximately $13,439,130.21. This represents a 12.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Satish Chitoori sold 2,085 shares of the stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $104.08, for a total value of $217,006.80. Following the transaction, the insider owned 229,880 shares in the company, valued at approximately $23,925,910.40. This trade represents a 0.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 341,544 shares of company stock worth $27,784,169 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp acquired a new stake in Bloom Energy during the 3rd quarter valued at $32,000. N.E.W. Advisory Services LLC acquired a new position in shares of Bloom Energy in the 3rd quarter valued at $32,000. Parkside Financial Bank & Trust raised its position in shares of Bloom Energy by 250.9% in the 3rd quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock valued at $33,000 after acquiring an additional 281 shares during the period. Cranbrook Wealth Management LLC acquired a new position in shares of Bloom Energy in the 3rd quarter valued at $39,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Bloom Energy in the third quarter worth about $42,000. 77.04% of the stock is 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.