Bloom Energy (NYSE:BE) Trading Down 4.3% After Analyst Downgrade

Bloom Energy Co. (NYSE:BE) dropped 4.3% on Thursday after Roth Mkm lowered their price target on the stock from $26.00 to $20.00. Roth Mkm currently has a neutral rating on the stock. Bloom Energy traded as low as $17.05 and last traded at $17.06. Approximately 875,368 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 6,728,712 shares. The stock had previously closed at $17.83.

BE has been the topic of several other reports. Bank of America decreased their price target on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Truist Financial upped their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a report on Thursday, January 16th. Mizuho started coverage on shares of Bloom Energy in a research report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating on shares of Bloom Energy in a research note on Tuesday, April 1st. Finally, Redburn Atlantic lowered Bloom Energy from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $14.50 to $10.00 in a research note on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.13.

Insider Buying and Selling

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the sale, the insider now owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 8.81% of the stock is owned by corporate insiders.

Institutional Trading of Bloom Energy

Several large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its stake in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares during the period. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp raised its stake in Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares in the last quarter. Quarry LP bought a new stake in Bloom Energy during the 4th quarter valued at approximately $35,000. Finally, Avior Wealth Management LLC bought a new position in shares of Bloom Energy in the 4th quarter worth approximately $40,000. 77.04% of the stock is owned by institutional investors.

Bloom Energy Trading Down 4.4 %

The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock has a 50 day moving average price of $22.17 and a 200 day moving average price of $20.45. The company has a market cap of $3.93 billion, a PE ratio of -30.45 and a beta of 3.27.

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.