Bloom Energy (NYSE:BE) Stock Price Down 7.2% After Analyst Downgrade

Bloom Energy Co. (NYSE:BE - Get Free Report) traded down 7.2% on Tuesday after Bank of America lowered their price target on the stock from $20.00 to $18.00. Bank of America currently has an underperform rating on the stock. Bloom Energy traded as low as $20.73 and last traded at $20.80. 4,502,055 shares changed hands during mid-day trading, a decline of 35% from the average session volume of 6,893,055 shares. The stock had previously closed at $22.42.

BE has been the subject of several other research reports. Royal Bank of Canada lifted their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday, November 18th. Morgan Stanley boosted their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. JPMorgan Chase & Co. lifted their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. HSBC cut Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price objective on the stock. in a research report on Wednesday, November 20th. Finally, Truist Financial increased their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $23.13.

Insider Activity

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the sale, the chief executive officer now directly owns 1,822,496 shares of the company's stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 1,289 shares of the business's stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares of the company's stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,528 shares of company stock worth $3,061,501 over the last 90 days. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

Several institutional investors have recently modified their holdings of the stock. Mizuho Markets Americas LLC raised its holdings in Bloom Energy by 8.2% in the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock valued at $4,335,000 after acquiring an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. purchased a new stake in Bloom Energy in the 3rd quarter valued at $517,000. Parametrica Management Ltd purchased a new stake in Bloom Energy in the 3rd quarter valued at $785,000. Edgestream Partners L.P. purchased a new position in shares of Bloom Energy during the 3rd quarter worth $3,274,000. Finally, Penserra Capital Management LLC boosted its position in shares of Bloom Energy by 20.7% during the 3rd quarter. Penserra Capital Management LLC now owns 165,660 shares of the company's stock valued at $1,749,000 after acquiring an additional 28,416 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Trading Up 0.0 %

The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of -42.02 and a beta of 3.06. The company's 50-day moving average is $24.64 and its 200-day moving average is $16.41.

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.