Bloom Energy (NYSE:BE) Stock Price Down 9.2% – What’s Next?

Bloom Energy Co. (NYSE:BE) shares were down 9.2% on Monday . The company traded as low as $21.90 and last traded at $21.95. Approximately 2,437,580 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 6,206,880 shares. The stock had previously closed at $24.17.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BE shares. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. Truist Financial increased their target price on Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Royal Bank of Canada increased their target price on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. BTIG Research increased their target price on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. Finally, Robert W. Baird increased their target price on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $24.18.

Bloom Energy Stock Up 6.0 %

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 firm has a market capitalization of $5.32 billion, a PE ratio of -41.59 and a beta of 3.06. The firm has a 50-day moving average of $24.10 and a two-hundred day moving average of $17.88.

Insider Buying and Selling

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in Bloom Energy by 1,490.8% in the third quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock valued at $19,570,000 after purchasing an additional 173,678 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Bloom Energy by 57.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 46,400 shares of the company’s stock valued at $490,000 after purchasing an additional 16,973 shares during the period. Emerald Mutual Fund Advisers Trust purchased a new position in Bloom Energy in the third quarter valued at about $74,000. Van ECK Associates Corp raised its position in Bloom Energy by 13.1% in the third quarter. Van ECK Associates Corp now owns 661,932 shares of the company’s stock valued at $6,990,000 after purchasing an additional 76,536 shares during the period. Finally, Emerald Advisers LLC purchased a new position in Bloom Energy in the third quarter valued at about $248,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

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.