Bloom Energy (NYSE:BE) Trading Down 7.1% – Should You Sell?

Bloom Energy Corporation (NYSE:BE)’s stock price dropped 7.1% on Wednesday . The stock traded as low as $100.05 and last traded at $101.6310. Approximately 13,542,800 shares traded hands during mid-day trading, an increase of 40% from the average daily volume of 9,690,532 shares. The stock had previously closed at $109.44.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on BE shares. Royal Bank Of Canada restated an “outperform” rating and set a $123.00 target price on shares of Bloom Energy in a research report on Monday, October 20th. Mizuho set a $89.00 price objective on shares of Bloom Energy in a research note on Wednesday, October 29th. Cowen reaffirmed a “hold” rating on shares of Bloom Energy in a research note on Wednesday, October 29th. Evercore ISI reiterated an “outperform” rating on shares of Bloom Energy in a report on Monday, October 13th. Finally, Daiwa Capital Markets set a $98.00 price target on shares of Bloom Energy in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Bloom Energy presently has a consensus rating of “Hold” and an average target price of $93.77.

Bloom Energy Price Performance

The company has a debt-to-equity ratio of 1.98, a current ratio of 4.40 and a quick ratio of 2.88. The company’s 50-day moving average price is $109.38 and its 200-day moving average price is $63.88. The company has a market cap of $24.04 billion, a P/E ratio of 662.11, a P/E/G ratio of 70.60 and a beta of 3.00.

Bloom Energy (NYSE:BE) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The business had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The firm’s revenue was up 57.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) EPS. As a group, sell-side analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Bloom Energy

In related news, Director Mary K. Bush sold 36,000 shares of Bloom Energy stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $142.82, for a total value of $5,141,520.00. Following the sale, the director owned 133,524 shares of the company’s stock, valued at approximately $19,069,897.68. This trade represents a 21.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 36,666 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $141.00, for a total value of $5,169,906.00. Following the completion of the sale, the insider owned 225,949 shares in the company, valued at $31,858,809. The trade was a 13.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 119,589 shares of company stock valued at $16,439,742 in the last 90 days. 3.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Graticule Asia Macro Advisors LLC bought a new stake in Bloom Energy during the 3rd quarter worth about $402,494,000. Trivest Advisors Ltd grew its holdings in shares of Bloom Energy by 1,461.6% in the 3rd quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company’s stock valued at $289,229,000 after acquiring an additional 3,201,000 shares in the last quarter. Norges Bank acquired a new stake in shares of Bloom Energy in the second quarter valued at about $57,821,000. Westfield Capital Management Co. LP bought a new stake in Bloom Energy during the third quarter worth about $141,679,000. Finally, Man Group plc raised its holdings in Bloom Energy by 177.4% during the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after acquiring an additional 1,530,167 shares in the last quarter. Institutional investors own 77.04% of the company’s stock.

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.