Bloom Energy (NYSE:BE) Stock Price Down 3.7% on Analyst Downgrade

Shares of Bloom Energy Co. (NYSE:BE) traded down 3.7% during trading on Thursday after Morgan Stanley lowered their price target on the stock from $35.00 to $30.00. Morgan Stanley currently has an overweight rating on the stock. Bloom Energy traded as low as $17.27 and last traded at $17.65. 3,262,743 shares were traded during trading, a decline of 51% from the average session volume of 6,676,992 shares. The stock had previously closed at $18.32.

Several other equities analysts also recently weighed in on the stock. HSBC upgraded shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $25.00 target price for the company in a report on Tuesday, April 8th. Susquehanna cut their price objective on Bloom Energy from $33.00 to $26.00 and set a “positive” rating for the company in a research report on Monday, April 14th. Mizuho started coverage on Bloom Energy in a report on Tuesday, March 18th. They set a “neutral” rating and a $28.00 target price on the stock. Roth Mkm decreased their price objective on Bloom Energy from $26.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 16th. Finally, Redburn Atlantic lowered shares of Bloom Energy from a “neutral” rating to a “sell” rating and reduced their target price for the company from $14.50 to $10.00 in a report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.71.

Insider Activity at Bloom Energy

In related news, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were 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 directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.81% of the stock is owned by insiders.

Institutional Trading of Bloom Energy

Large investors have recently modified their holdings of the business. Smartleaf Asset Management LLC grew its stake in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares in the last quarter. Mainstream Capital Management LLC purchased a new position in shares of Bloom Energy during the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp grew its position in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares in the last quarter. Quarry LP bought a new stake in shares of Bloom Energy in the fourth quarter worth $35,000. Finally, Avior Wealth Management LLC acquired a new stake in Bloom Energy in the fourth quarter valued at $40,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Stock Down 1.8 %

The stock has a market capitalization of $3.80 billion, a P/E ratio of -29.46 and a beta of 3.27. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The stock’s 50 day simple moving average is $20.48 and its 200 day simple moving average is $21.04.

Bloom Energy (NYSE:BE) last released its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The company had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same quarter last year, the business posted ($0.17) EPS. Bloom Energy’s quarterly revenue was up 38.5% compared to the same quarter last year. As a group, research analysts predict that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Bloom Energy Company Profile

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.