Bloom Energy (NYSE:BE) Shares Down 3.3% – Should You Sell?

Bloom Energy Corporation (NYSE:BE)’s share price fell 3.3% on Friday . The company traded as low as $146.55 and last traded at $151.37. 11,360,896 shares were traded during trading, a decline of 11% from the average session volume of 12,797,167 shares. The stock had previously closed at $156.51.

Analysts Set New Price Targets

A number of brokerages have weighed in on BE. Wells Fargo & Company boosted their target price on shares of Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 21st. Hsbc Global Res raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 29th. Wedbush set a $39.00 price target on Bloom Energy in a research note on Tuesday, November 25th. Jefferies Financial Group reaffirmed an “underperform” rating and set a $92.00 price target on shares of Bloom Energy in a research report on Monday. Finally, Barclays began coverage on shares of Bloom Energy in a report on Wednesday. They issued an “equal weight” rating and a $153.00 price objective on the stock. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Bloom Energy currently has a consensus rating of “Hold” and a consensus price target of $109.83.

Bloom Energy Stock Down 3.3%

The stock has a market capitalization of $35.80 billion, a P/E ratio of 918.83, a P/E/G ratio of 13.93 and a beta of 3.01. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The company’s 50-day moving average price is $112.28 and its 200 day moving average price is $87.18.

Bloom Energy (NYSE:BE) last announced 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 the consensus estimate of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business’s revenue was up 57.1% on a year-over-year basis. During the same period in the previous year, the business earned ($0.01) earnings per share. As a group, equities analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Bloom Energy

In other news, insider Satish Chitoori sold 431 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total value of $37,979.72. Following the transaction, the insider owned 229,449 shares of the company’s stock, valued at approximately $20,219,045.88. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Maciej Kurzymski sold 3,264 shares of the firm’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $86.48, for a total transaction of $282,270.72. Following the transaction, the insider directly owned 90,005 shares of the company’s stock, valued at $7,783,632.40. The trade was a 3.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 120,410 shares of company stock worth $16,557,185. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BE. Citizens Financial Group Inc. RI purchased a new position in Bloom Energy during the 4th quarter valued at approximately $486,000. Jennison Associates LLC boosted its position in shares of Bloom Energy by 27.2% during the 4th quarter. Jennison Associates LLC now owns 13,319 shares of the company’s stock valued at $1,157,000 after acquiring an additional 2,849 shares during the last quarter. Harbor Advisors LLC purchased a new position in shares of Bloom Energy in the fourth quarter valued at $261,000. Wealthfront Advisers LLC bought a new stake in Bloom Energy in the fourth quarter worth $255,000. Finally, Mitsubishi UFJ Trust & Banking Corp purchased a new stake in Bloom Energy during the fourth quarter valued at $7,800,000. 77.04% of the stock is owned by institutional investors.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.