Bloom Energy (NYSE:BE) Shares Down 6.3% Following Analyst Downgrade

Bloom Energy Co. (NYSE:BE – Get Rating)’s stock price fell 6.3% during trading 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. 891,004 shares traded hands during trading, a decline of 73% from the average session volume of 3,270,827 shares. The stock had previously closed at $14.83.

Several other equities research analysts have also recently issued reports on the company. Morgan Stanley lowered their price objective on Bloom Energy from $35.00 to $32.00 and set an “overweight” rating on the stock in a report on Monday, April 3rd. Raymond James cut Bloom Energy from a “strong-buy” rating to an “outperform” rating and lowered their price objective for the stock from $29.00 to $25.00 in a report on Wednesday, April 5th. Credit Suisse Group reiterated an “outperform” rating and issued a $32.00 price objective on shares of Bloom Energy in a report on Monday, February 13th. TheStreet lowered shares of Bloom Energy from a “c-” rating to a “d+” rating in a research note on Tuesday, May 9th. Finally, Truist Financial decreased their target price on shares of Bloom Energy from $26.00 to $20.00 in a research note on Wednesday, May 10th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.91.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 42,239 shares of Bloom Energy stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $12.64, for a total value of $533,900.96. Following the completion of the sale, the chief executive officer now owns 700,633 shares in the company, valued at approximately $8,856,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Kr Sridhar sold 42,239 shares of Bloom Energy stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $12.64, for a total value of $533,900.96. Following the completion of the sale, the chief executive officer now owns 700,633 shares in the company, valued at approximately $8,856,001.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eddy Zervigon sold 22,797 shares of the business’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $21.57, for a total transaction of $491,731.29. Following the completion of the transaction, the director now owns 124,808 shares of the company’s stock, valued at approximately $2,692,108.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 271,361 shares of company stock worth $4,715,532. Insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors have recently modified their holdings of the business. Signaturefd LLC grew its stake in shares of Bloom Energy by 230.2% during the first quarter. Signaturefd LLC now owns 1,443 shares of the company’s stock worth $29,000 after purchasing an additional 1,006 shares in the last quarter. Private Trust Co. NA acquired a new position in shares of Bloom Energy during the fourth quarter worth $57,000. Quent Capital LLC acquired a new position in shares of Bloom Energy during the fourth quarter worth $57,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Bloom Energy during the first quarter worth $62,000. Finally, Quantbot Technologies LP grew its stake in shares of Bloom Energy by 27.8% during the first quarter. Quantbot Technologies LP now owns 4,673 shares of the company’s stock worth $112,000 after purchasing an additional 1,017 shares in the last quarter. Institutional investors and hedge funds own 79.55% of the company’s stock.

Bloom Energy Trading Down 6.9 %

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

Bloom Energy Company Profile

(Get Rating)

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.