Bloom Energy Co. (NYSE:BE) Sees Large Decline in Short Interest

Bloom Energy Co. (NYSE:BE) was the recipient of a large decline in short interest in the month of August. As of August 15th, there was short interest totalling 41,930,000 shares, a decline of 5.1% from the July 31st total of 44,190,000 shares. Based on an average daily volume of 6,280,000 shares, the short-interest ratio is presently 6.7 days.

Bloom Energy Stock Performance

NYSE:BE opened at $11.91 on Tuesday. The stock’s 50-day moving average is $12.51 and its 200-day moving average is $12.02. Bloom Energy has a 1-year low of $8.41 and a 1-year high of $18.14. The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. The stock has a market cap of $2.71 billion, a P/E ratio of -8.82 and a beta of 2.80.

Bloom Energy (NYSE:BE) last posted its earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm had revenue of $335.80 million for the quarter, compared to analyst estimates of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The company’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.32) EPS. Equities research analysts anticipate that Bloom Energy will post -0.25 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler raised their price target on Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. Bank of America raised their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a report on Wednesday, July 17th. UBS Group cut their price target on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Evercore ISI reduced their price target on shares of Bloom Energy from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Finally, TD Cowen boosted their price objective on shares of Bloom Energy from $10.00 to $13.00 and gave the company a “hold” rating in a research report on Friday, May 10th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Moderate Buy” and a consensus price target of $16.08.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $14.53, for a total transaction of $30,425.82. Following the transaction, the insider now directly owns 168,867 shares of the company’s stock, valued at $2,453,637.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Xponance Inc. raised its holdings in Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after purchasing an additional 903 shares during the last quarter. Millburn Ridgefield Corp increased its position in shares of Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock worth $37,000 after buying an additional 1,286 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Bloom Energy by 9.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 15,299 shares of the company’s stock worth $226,000 after buying an additional 1,308 shares during the last quarter. Arizona State Retirement System lifted its holdings in Bloom Energy by 2.7% in the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after buying an additional 1,470 shares during the period. Finally, Tocqueville Asset Management L.P. boosted its position in Bloom Energy by 3.1% during the first quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock valued at $666,000 after acquiring an additional 1,800 shares during 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.