Bloom Energy (NYSE:BE) Shares Down 4.6% – Should You Sell?

Bloom Energy Co. (NYSE:BE)’s share price fell 4.6% on Friday . The stock traded as low as $23.95 and last traded at $24.23. 2,396,441 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 6,614,813 shares. The stock had previously closed at $25.41.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Morgan Stanley increased their price objective on Bloom Energy from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen raised their price target on Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, February 28th. Roth Capital raised Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Roth Mkm initiated coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price objective on the stock. Finally, Jefferies Financial Group boosted their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.06.

Bloom Energy Stock Performance

The stock has a market cap of $5.50 billion, a P/E ratio of -42.62 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a 50-day simple moving average of $24.10 and a 200-day simple moving average of $19.22.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

Large investors have recently bought and sold shares of the company. GSA Capital Partners LLP purchased a new position in Bloom Energy in the 3rd quarter valued at approximately $268,000. Quest Partners LLC grew its position in shares of Bloom Energy by 493.2% in the third quarter. Quest Partners LLC now owns 21,356 shares of the company’s stock valued at $226,000 after purchasing an additional 17,756 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Bloom Energy by 45.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 54,140 shares of the company’s stock valued at $572,000 after purchasing an additional 16,993 shares during the period. Intech Investment Management LLC purchased a new stake in Bloom Energy during the 3rd quarter worth about $600,000. Finally, Landscape Capital Management L.L.C. bought a new position in Bloom Energy in the 3rd quarter worth about $698,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

About Bloom Energy

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.