Bloom Energy (NYSE:BE) Shares Down 5.3% - Should You Sell?

On Thursday, Bloom Energy Co. (NYSE:BE) saw its stock price drop by 5.3% during mid-day trading. The stock reached a low of $22.13 before settling at $22.21, as approximately 2,032,119 shares changed hands, a significant decrease from the average daily volume of 6,556,809 shares. The stock had previously closed at $23.46.

Recent Price Target Changes by Analysts

Bloom Energy has recently been under the microscope of several analysts. BMO Capital Markets increased their price target from $12.00 to $19.50, assigning the stock a "market perform" rating in a report dated November 15. Conversely, Robert W. Baird upgraded their price target from $15.00 to $32.00 while giving Bloom Energy an "outperform" rating in a report from December 12. HSBC Global Research recently upgraded Bloom Energy to a "hold" rating on November 20.

Truist Financial, however, lowered their price target from $13.00 to $12.00, maintaining a "hold" rating for the stock. Additionally, Piper Sandler elevated their target from $20.00 to $30.00, labeling the company with an "overweight" rating in a report on November 22. Overall, one analyst has rated the stock as a sell, twelve have suggested a hold, nine have given it a buy rating, and one has labeled it as a strong buy according to MarketBeat. Currently, the consensus rating for Bloom Energy is "Hold" with an average price target of $22.45.

Company Financial Ratios

The financial metrics for Bloom Energy reveal a current ratio of 3.36, a quick ratio of 2.33, and a debt-to-equity ratio of 3.09. The company’s moving averages show a 50-day average of $17.76 and a 200-day average of $14.18. Bloom Energy has a market capitalization of $5.17 billion, a P/E ratio of -40.36, and a beta of 3.04, indicating a higher level of volatility compared to the market.

Insider Trading Activities

In insider trading news, Shawn Marie Soderberg sold 1,289 shares of Bloom Energy's stock on November 18 at an average price of $24.56, totaling approximately $31,657.84. After this transaction, Soderberg holds 168,561 shares valued at about $4.14 million. This event represents a 0.76% decrease in their holding. Additionally, CEO Kr Sridhar sold 72,903 shares on November 20 at an average price of $25.02 for a total of about $1.82 million. After the sale, the CEO possesses 1,869,593 shares worth around $46.78 million, showing a 3.75% reduction in ownership. In total, insiders sold 122,975 shares in the last quarter, equating to a value of $3.05 million. Insiders control about 8.81% of the company's shares.

Institutional Investment Activity

Various institutional investors have been active with Bloom Energy shares. For instance, Millburn Ridgefield Corp increased its holding by 29.2% in Q3, now owning 2,339 shares worth $25,000 after acquiring an additional 528 shares. Xponance Inc. boosted its position by 7.8% in Q2, holding 12,542 shares worth $154,000. Other investors like Kovitz Investment Group Partners LLC and Arizona State Retirement System have also increased their stakes. Currently, 77.04% of the shares are owned by institutional investors and hedge funds.

About Bloom Energy

Bloom Energy Corporation focuses on the design, manufacture, sale, and installation of solid-oxide fuel cell systems aimed at on-site power generation both in the United States and globally. The company produces a product known as the Bloom Energy Server, which utilizes a solid oxide technology to convert fuel sources into electricity through an electrochemical process that avoids combustion.

Investment Considerations

If you are contemplating whether to invest in Bloom Energy right now, it might be wise to consider other options. Currently, top analysts have identified several stocks they believe have greater long-term potential compared to Bloom Energy.

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