Bloom Energy (NYSE:BE) Sees Strong Trading Volume

Bloom Energy Co. (NYSE:BE) saw unusually-high trading volume on Wednesday . Approximately 2,141,105 shares were traded during mid-day trading, a decline of 62% from the previous session’s volume of 5,700,950 shares.The stock last traded at $16.08 and had previously closed at $15.13.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Bank of America lowered Bloom Energy from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $16.00 to $10.00 in a research report on Monday, January 29th. Wells Fargo & Company boosted their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday. Piper Sandler decreased their price target on shares of Bloom Energy from $14.00 to $11.00 and set a “neutral” rating for the company in a research note on Friday, February 16th. Redburn Atlantic began coverage on shares of Bloom Energy in a report on Tuesday, February 6th. They issued a “neutral” rating and a $12.50 price objective on the stock. Finally, JPMorgan Chase & Co. lowered shares of Bloom Energy from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $19.00 to $14.00 in a report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $15.64.

Bloom Energy Stock Performance

The firm has a 50-day simple moving average of $11.14 and a 200-day simple moving average of $11.82. The company has a debt-to-equity ratio of 2.56, a current ratio of 4.45 and a quick ratio of 2.97.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.09). The business had revenue of $235.30 million during the quarter, compared to the consensus estimate of $254.06 million. Bloom Energy had a negative return on equity of 19.32% and a negative net margin of 22.27%. As a group, equities analysts anticipate that Bloom Energy Co. will post -0.26 EPS for the current year.

Insider Transactions at Bloom Energy

In related news, CEO Kr Sridhar sold 50,746 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $9.74, for a total value of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CEO Kr Sridhar sold 50,746 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $9.74, for a total value of $494,266.04. Following the completion of the sale, the chief executive officer now directly owns 2,702,608 shares of the company’s stock, valued at approximately $26,323,401.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 8,963 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the sale, the insider now owns 168,003 shares in the company, valued at approximately $1,656,509.58. The disclosure for this sale can be found here. Insiders have sold 131,291 shares of company stock worth $1,457,413 in the last 90 days. 8.81% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Bloom Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after acquiring an additional 156,434 shares during the period. Norges Bank bought a new stake in Bloom Energy during the 4th quarter valued at approximately $82,678,000. Coatue Management LLC raised its stake in Bloom Energy by 28.3% during the 4th quarter. Coatue Management LLC now owns 4,436,901 shares of the company’s stock valued at $65,666,000 after purchasing an additional 978,053 shares during the period. FMR LLC lifted its holdings in Bloom Energy by 168.8% in the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company’s stock worth $46,733,000 after purchasing an additional 2,213,167 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Bloom Energy by 3.8% in the 3rd quarter. Northern Trust Corp now owns 1,920,938 shares of the company’s stock worth $25,472,000 after purchasing an additional 70,248 shares during the period. Institutional investors own 77.04% of the company’s stock.

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.