Bloom Energy (NYSE:BE) Shares Down 2.7% – Here’s Why
by Renee Jackson · The Cerbat GemShares of Bloom Energy Corporation (NYSE:BE – Get Free Report) dropped 2.7% during trading on Wednesday . The company traded as low as $285.90 and last traded at $294.0880. Approximately 6,589,070 shares traded hands during trading, a decline of 41% from the average daily volume of 11,116,199 shares. The stock had previously closed at $302.40.
Analysts Set New Price Targets
BE has been the subject of a number of research analyst reports. China Renaissance initiated coverage on Bloom Energy in a report on Wednesday, January 28th. They set a “buy” rating and a $207.00 price target for the company. Citigroup upped their price target on Bloom Energy to $281.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. TD Cowen upped their price target on Bloom Energy to $235.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Roth Mkm set a $225.00 price target on Bloom Energy in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. upped their price target on Bloom Energy to $267.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $217.48.
Bloom Energy Trading Down 2.7%
The firm has a market capitalization of $83.65 billion, a P/E ratio of -5,880.58 and a beta of 3.82. The company has a quick ratio of 4.10, a current ratio of 5.03 and a debt-to-equity ratio of 2.90. The business has a 50-day moving average price of $212.84 and a 200-day moving average price of $157.16.
Bloom Energy (NYSE:BE – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.32. The business had revenue of $751.05 million for the quarter, compared to analysts’ expectations of $539.94 million. Bloom Energy had a return on equity of 21.05% and a net margin of 0.25%.Bloom Energy’s quarterly revenue was up 130.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 earnings per share. Bloom Energy has set its FY 2026 guidance at 1.850-2.250 EPS. Analysts anticipate that Bloom Energy Corporation will post 1.31 earnings per share for the current year.
Insider Buying and Selling at Bloom Energy
In other news, Director Mary K. Bush sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, May 7th. The stock was sold at an average price of $266.96, for a total transaction of $6,674,000.00. Following the sale, the director directly owned 108,524 shares in the company, valued at approximately $28,971,567.04. The trade was a 18.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Satish Chitoori sold 2,111 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $288.24, for a total value of $608,474.64. Following the sale, the insider owned 210,254 shares in the company, valued at approximately $60,603,612.96. This represents a 0.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 270,027 shares of company stock valued at $55,319,814 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the stock. Creekmur Asset Management LLC acquired a new position in Bloom Energy during the third quarter worth $1,825,000. Meridian Wealth Management LLC acquired a new position in Bloom Energy during the third quarter worth $553,000. Straight Path Wealth Management acquired a new position in Bloom Energy during the third quarter worth $1,099,000. Strs Ohio raised its stake in Bloom Energy by 24.8% during the fourth quarter. Strs Ohio now owns 41,200 shares of the company’s stock worth $3,580,000 after acquiring an additional 8,200 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new position in Bloom Energy during the third quarter worth $1,985,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.
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.