Bloom Energy (NYSE:BE) Trading Down 4.3% – What’s Next?

Bloom Energy Co. (NYSE:BE) shares dropped 4.3% during mid-day trading on Wednesday . The stock traded as low as $9.23 and last traded at $9.31. Approximately 1,412,807 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 5,765,178 shares. The stock had previously closed at $9.73.

Wall Street Analysts Forecast Growth

BE has been the topic of several research analyst reports. Bank of America increased their target price on shares of Bloom Energy from $8.00 to $9.00 and gave the stock an “underperform” rating in a research note on Wednesday, July 17th. UBS Group decreased their target price on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Truist Financial cut their price target on Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, October 16th. Piper Sandler boosted their price objective on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Susquehanna dropped their target price on shares of Bloom Energy from $16.00 to $13.00 and set a “positive” rating on the stock in a research note on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Bloom Energy has an average rating of “Hold” and a consensus target price of $15.45.

Bloom Energy Trading Up 1.5 %

The stock has a 50 day moving average of $10.66 and a 200 day moving average of $12.09. The company has a debt-to-equity ratio of 3.43, a current ratio of 4.65 and a quick ratio of 3.33. The firm has a market cap of $2.08 billion, a P/E ratio of -6.80 and a beta of 2.69.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The company had revenue of $335.80 million for the quarter, compared to analysts’ expectations of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. Bloom Energy’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.32) EPS. As a group, equities research analysts predict that Bloom Energy Co. will post -0.25 EPS for the current year.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Bloom Energy by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock valued at $289,026,000 after acquiring an additional 307,627 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Bloom Energy by 762.3% during the first quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock valued at $5,712,000 after purchasing an additional 446,074 shares during the period. Russell Investments Group Ltd. grew its holdings in shares of Bloom Energy by 99,266.7% in the first quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock worth $1,642,000 after purchasing an additional 145,922 shares during the last quarter. DigitalBridge Group Inc. raised its holdings in Bloom Energy by 66.3% during the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after buying an additional 462,581 shares during the last quarter. Finally, Artemis Investment Management LLP grew its holdings in Bloom Energy by 20.5% in the 3rd quarter. Artemis Investment Management LLP now owns 738,673 shares of the company’s stock worth $7,800,000 after acquiring an additional 125,757 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

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.