Bloom Energy (NYSE:BE) Stock Price Down 3.4% – Should You Sell?

Bloom Energy Co. (NYSE:BE)’s stock price fell 3.4% on Monday . The stock traded as low as $10.28 and last traded at $10.38. 362,762 shares were traded during mid-day trading, a decline of 94% from the average session volume of 5,822,400 shares. The stock had previously closed at $10.74.

Wall Street Analysts Forecast Growth

BE has been the subject of a number of research analyst reports. UBS Group dropped their price target 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. Bank of America boosted their price target 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. Truist Financial raised their price objective on shares of Bloom Energy from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 12th. Jefferies Financial Group lowered shares of Bloom Energy from a “buy” rating to a “hold” rating and cut their target price for the stock from $15.00 to $11.00 in a research report on Friday, September 6th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $15.00 price target on shares of Bloom Energy in a research report on Thursday, June 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $15.88.

Bloom Energy Price Performance

The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The stock has a market capitalization of $2.38 billion, a PE ratio of -7.75 and a beta of 2.69. The company’s fifty day moving average price is $10.86 and its 200-day moving average price is $12.19.

Bloom Energy (NYSE:BE) last released its earnings results on Thursday, August 8th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). The firm 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%. The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.32) earnings per share. Analysts forecast that Bloom Energy Co. will post -0.25 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas bought a new stake in shares of Bloom Energy during the first quarter valued at approximately $38,000. ORG Partners LLC purchased a new stake in Bloom Energy during the 2nd quarter valued at $40,000. Quest Partners LLC increased its holdings in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after purchasing an additional 3,475 shares in the last quarter. Gilliland Jeter Wealth Management LLC purchased a new position in shares of Bloom Energy in the second quarter worth $53,000. Finally, Mather Group LLC. bought a new position in shares of Bloom Energy during the second quarter valued at $66,000. 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.