Bloom Energy (NYSE:BE) Trading Down 5.3% – Here’s What Happened
by Sarita Garza · The Markets DailyBloom Energy Corporation (NYSE:BE – Get Free Report) shares traded down 5.3% during trading on Thursday . The company traded as low as $149.79 and last traded at $156.5670. 11,804,737 shares were traded during mid-day trading, a decline of 8% from the average session volume of 12,870,101 shares. The stock had previously closed at $165.39.
Bloom Energy News Roundup
Here are the key news stories impacting Bloom Energy this week:
- Positive Sentiment: Bloom secured a major US data-center power agreement worth about US$2.65 billion, reinforcing BE’s positioning as a provider of on-site, low-emission power for AI/data centers — a tangible revenue and backlog catalyst. Read More.
- Positive Sentiment: China Renaissance initiated coverage with a Buy rating and a $207 price target (~32% upside vs. current levels), signaling some analysts expect continued strong growth from data-center demand and improving profitability. Read More.
- Neutral Sentiment: MarketBeat and other outlets are featuring BE among “stocks to buy” tied to AI/data-center demand, reflecting stronger sell-side and retail interest that can support the stock but doesn’t guarantee immediate further gains. Read More.
- Negative Sentiment: Barclays initiated coverage with an Equal Weight (neutral) rating and a $153 price target — slightly below current trading levels — which likely added selling pressure by signaling near-term upside is limited from that shop’s view. Read More.
- Negative Sentiment: Valuation and volatility concerns: BE trades with a very high P/E, a high beta (~3.0) and meaningful leverage — features that amplify moves after big rallies and can prompt traders to lock in gains after recent strong performance. Negative Sentiment:
Wall Street Analyst Weigh In
BE has been the topic of several research reports. Barclays initiated coverage on Bloom Energy in a research report on Wednesday. They issued an “equal weight” rating and a $153.00 target price on the stock. Jefferies Financial Group reaffirmed an “underperform” rating and set a $92.00 price target on shares of Bloom Energy in a research report on Monday. UBS Group lifted their price objective on shares of Bloom Energy to $115.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Roth Mkm restated a “neutral” rating and set a $103.00 target price on shares of Bloom Energy in a research report on Wednesday, October 29th. Finally, Morgan Stanley upped their target price on Bloom Energy to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $109.83.
View Our Latest Stock Analysis on BE
Bloom Energy Trading Down 5.3%
The company has a market capitalization of $37.03 billion, a price-to-earnings ratio of 846.17, a P/E/G ratio of 12.83 and a beta of 3.01. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The business’s 50 day moving average price is $111.02 and its two-hundred day moving average price is $86.70.
Bloom Energy (NYSE:BE – Get Free Report) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The business had revenue of $519.05 million during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the prior year, the firm earned ($0.01) EPS. The firm’s revenue was up 57.1% compared to the same quarter last year. On average, equities analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.
Insider Activity at Bloom Energy
In other Bloom Energy news, insider Maciej Kurzymski sold 13,105 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total value of $1,888,299.45. Following the completion of the transaction, the insider directly owned 93,269 shares in the company, valued at approximately $13,439,130.21. This trade represents a 12.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $109.13, for a total value of $495,777.59. Following the sale, the insider owned 219,818 shares in the company, valued at approximately $23,988,738.34. This trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 120,410 shares of company stock valued at $16,557,185. 3.50% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of BE. Resona Asset Management Co. Ltd. bought a new stake in Bloom Energy in the second quarter worth about $108,000. Mizuho Markets Americas LLC increased its stake in shares of Bloom Energy by 29.9% during the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock worth $9,460,000 after purchasing an additional 90,980 shares during the last quarter. Udine Wealth Management Inc. raised its holdings in shares of Bloom Energy by 27.8% in the 3rd quarter. Udine Wealth Management Inc. now owns 62,967 shares of the company’s stock worth $5,325,000 after purchasing an additional 13,684 shares during the period. Straight Path Wealth Management purchased a new position in Bloom Energy in the third quarter valued at approximately $1,099,000. Finally, Huntleigh Advisors Inc. purchased a new position in Bloom Energy in the third quarter valued at approximately $766,000. 77.04% of the stock is owned by institutional investors.
Bloom Energy Company Profile
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.