Bloom Energy (NYSE:BE) Shares Down 4.3% – Should You Sell?

Bloom Energy Co. (NYSE:BE)’s share price was down 4.3% during trading on Wednesday . The stock traded as low as $9.23 and last traded at $9.31. Approximately 1,412,807 shares changed hands during 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

Several analysts have issued reports on the stock. Bank of America increased their price objective on shares of Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Piper Sandler boosted their price objective on shares of Bloom Energy from $10.00 to $11.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Susquehanna lowered their target price on Bloom Energy from $16.00 to $13.00 and set a “positive” rating for the company in a research note on Wednesday, October 16th. UBS Group cut their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $15.68.

Bloom Energy Stock Performance

The company has a current ratio of 4.65, a quick ratio of 3.33 and a debt-to-equity ratio of 3.43. The stock has a market capitalization of $2.07 billion, a P/E ratio of -6.84 and a beta of 2.69. The company’s 50-day moving average is $10.76 and its two-hundred day moving average is $12.13.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). The business had revenue of $335.80 million during the quarter, compared to the consensus estimate of $307.73 million. Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The business’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.32) earnings per share. As a group, sell-side analysts anticipate that Bloom Energy Co. will post -0.25 EPS for the current fiscal year.

Institutional Investors Weigh In On Bloom Energy

Several institutional investors have recently bought and sold shares of the stock. Electron Capital Partners LLC increased its stake in shares of Bloom Energy by 131.5% during the second quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock valued at $38,592,000 after acquiring an additional 1,790,733 shares during the period. Artemis Investment Management LLP purchased a new stake in shares of Bloom Energy in the 2nd quarter valued at approximately $7,502,000. DigitalBridge Group Inc. boosted its stake in Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock worth $14,203,000 after purchasing an additional 462,581 shares during the period. Pier Capital LLC purchased a new position in shares of Bloom Energy during the second quarter valued at $5,602,000. Finally, DekaBank Deutsche Girozentrale grew its stake in Bloom Energy by 762.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 504,591 shares of the company’s stock valued at $5,712,000 after acquiring an additional 446,074 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company’s stock.

About Bloom Energy

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.