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
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
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.
- Get a free copy of the StockNews.com research report on Bloom Energy (BE)
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