Bloom Energy (NYSE:BE) Shares Down 9.2% – What’s Next?

Bloom Energy Co. (NYSE:BE) shares fell 9.2% during mid-day trading on Monday . The company traded as low as $21.90 and last traded at $21.95. 2,437,580 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 6,206,880 shares. The stock had previously closed at $24.17.

Analyst Ratings Changes

A number of analysts have recently weighed in on BE shares. Roth Mkm initiated coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target for the company. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. Jefferies Financial Group lifted their price target on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research note on Friday, November 22nd. Finally, BMO Capital Markets upped their price objective on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Bloom Energy has a consensus rating of “Hold” and an average target price of $24.18.

Bloom Energy Stock Performance

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 stock’s fifty day moving average is $24.22 and its two-hundred day moving average is $17.72. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of -40.91 and a beta of 3.06.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy 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 sale, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.81% of the stock is owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

Several large investors have recently bought and sold shares of the stock. Millburn Ridgefield Corp increased its stake in shares of Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares during the period. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy in the 4th quarter worth $28,000. Smartleaf Asset Management LLC lifted its holdings in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after buying an additional 934 shares during the period. Jones Financial Companies Lllp boosted its stake in Bloom Energy by 120.5% during the fourth 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 in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy during the third quarter worth about $34,000. Institutional investors and hedge funds 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.