Bloom Energy (NYSE:BE) Stock Price Down 6.3% on Analyst Downgrade

Bloom Energy Co. (NYSE:BE – Get Rating)’s stock price was down 6.3% on Wednesday after BMO Capital Markets lowered their price target on the stock from $22.00 to $18.50. The company traded as low as $13.87 and last traded at $13.89. Approximately 891,004 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 3,270,827 shares. The stock had previously closed at $14.83.

BE has been the subject of several other reports. KeyCorp increased their target price on shares of Bloom Energy from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Friday, February 10th. Jefferies Financial Group cut their target price on shares of Bloom Energy from $30.00 to $25.00 in a research note on Monday, May 15th. Raymond James lowered shares of Bloom Energy from a “strong-buy” rating to an “outperform” rating and cut their target price for the company from $29.00 to $25.00 in a research note on Wednesday, April 5th. JPMorgan Chase & Co. raised shares of Bloom Energy from a “neutral” rating to an “overweight” rating and cut their target price for the company from $22.00 to $20.00 in a research note on Friday, May 19th. Finally, Robert W. Baird cut their target price on shares of Bloom Energy from $25.00 to $21.00 in a research note on Thursday, May 11th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Bloom Energy presently has an average rating of “Moderate Buy” and an average target price of $27.91.

Insider Transactions at Bloom Energy

In related news, Director Eddy Zervigon sold 22,797 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $21.57, for a total transaction of $491,731.29. Following the completion of the sale, the director now directly owns 124,808 shares of the company’s stock, valued at approximately $2,692,108.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Eddy Zervigon sold 22,797 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $21.57, for a total transaction of $491,731.29. Following the completion of the sale, the director now directly owns 124,808 shares of the company’s stock, valued at approximately $2,692,108.56. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Glen Griffiths sold 2,122 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $18.03, for a total transaction of $38,259.66. Following the completion of the sale, the insider now directly owns 403,498 shares of the company’s stock, valued at $7,275,068.94. The disclosure for this sale can be found here. Insiders have sold a total of 271,361 shares of company stock worth $4,715,532 in the last 90 days. 8.81% of the stock is owned by insiders.

Institutional Trading of Bloom Energy

A number of hedge funds have recently bought and sold shares of BE. Signaturefd LLC raised its stake in shares of Bloom Energy by 230.2% in the 1st quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock valued at $29,000 after buying an additional 1,006 shares in the last quarter. Private Trust Co. NA acquired a new position in shares of Bloom Energy in the 4th quarter valued at $57,000. Quent Capital LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at $57,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Bloom Energy in the 1st quarter valued at $62,000. Finally, Nordwand Advisors LLC acquired a new position in shares of Bloom Energy in the 1st quarter valued at $93,000. 79.55% of the stock is owned by institutional investors.

Bloom Energy Trading Down 6.9 %

The company has a market cap of $2.88 billion, a price-to-earnings ratio of -8.85 and a beta of 2.85. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.10 and a current ratio of 1.61. The business’s 50 day moving average price is $16.98 and its 200-day moving average price is $20.15.

Bloom Energy Company Profile

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Bloom Energy Corp. engages in the manufacture and installation of a solid oxide fuel-cell based power generation platform. Its product, Bloom Energy Server, converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion. The company was founded by K.