Bloom Energy (NYSE:BE) Stock Price Down 4.3% Following Analyst Downgrade

Bloom Energy Co. (NYSE:BE) shares traded down 4.3% on Thursday after Roth Mkm lowered their price target on the stock from $26.00 to $20.00. Roth Mkm currently has a neutral rating on the stock. Bloom Energy traded as low as $17.05 and last traded at $17.06. 875,368 shares were traded during mid-day trading, a decline of 87% from the average session volume of 6,728,712 shares. The stock had previously closed at $17.83.

Several other analysts also recently issued reports on BE. BMO Capital Markets reaffirmed a “market perform” rating on shares of Bloom Energy in a report on Friday, February 28th. Robert W. Baird decreased their price target on shares of Bloom Energy from $32.00 to $27.00 and set an “outperform” rating for the company in a report on Tuesday. Mizuho initiated coverage on Bloom Energy in a research note on Tuesday, March 18th. They issued a “neutral” rating and a $28.00 price objective on the stock. Jefferies Financial Group decreased their target price on Bloom Energy from $25.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday. Finally, Susquehanna lowered their target price on Bloom Energy from $33.00 to $26.00 and set a “positive” rating on the stock in a report on Monday. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $23.13.

Insider Activity

In related news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares of the company’s stock, valued at $4,482,479.04. This trade represents a 0.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 8.81% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Smartleaf Asset Management LLC raised its position in Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after purchasing an additional 934 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in Bloom Energy during the 4th quarter worth about $28,000. Jones Financial Companies Lllp increased its position in Bloom Energy by 120.5% in the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares in the last quarter. Quarry LP acquired a new position in shares of Bloom Energy during the fourth quarter worth approximately $35,000. Finally, Avior Wealth Management LLC bought a new stake in shares of Bloom Energy during the fourth quarter valued at approximately $40,000. Institutional investors own 77.04% of the company’s stock.

Bloom Energy Stock Down 4.5 %

The stock has a market cap of $3.92 billion, a P/E ratio of -30.41 and a beta of 3.27. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The firm’s 50-day moving average is $22.00 and its two-hundred day moving average is $20.50.

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.