Bloom Energy (NYSE:BE) Stock Price Down 6.3% – Should You Sell?

Shares of Bloom Energy Co. (NYSE:BE) were down 6.3% during mid-day trading on Friday . The company traded as low as $22.65 and last traded at $22.79. Approximately 2,842,321 shares traded hands during trading, a decline of 56% from the average daily volume of 6,527,842 shares. The stock had previously closed at $24.33.

Analyst Upgrades and Downgrades

BE has been the subject of a number of recent analyst reports. Jefferies Financial Group raised their price objective on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Roth Mkm started coverage on Bloom Energy in a report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price target for the company. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. Roth Capital raised shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, UBS Group boosted their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.45.

Bloom Energy Stock Performance

The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of -40.89 and a beta of 3.04. The firm has a fifty day moving average of $19.65 and a 200 day moving average of $14.61. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock valued at $3,045,019 in the last three months. 8.81% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Bloom Energy

Large investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its stake in Bloom Energy by 15.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 773,658 shares of the company’s stock worth $9,470,000 after buying an additional 101,519 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Bloom Energy by 9.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 402,408 shares of the company’s stock valued at $4,925,000 after purchasing an additional 34,739 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Bloom Energy by 1,152.2% in the 2nd quarter. Principal Financial Group Inc. now owns 324,509 shares of the company’s stock valued at $3,972,000 after purchasing an additional 298,593 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Bloom Energy during the 2nd quarter worth $143,000. Finally, nVerses Capital LLC grew its holdings in shares of Bloom Energy by 384.0% during the second quarter. nVerses Capital LLC now owns 12,100 shares of the company’s stock worth $148,000 after buying an additional 9,600 shares in the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.