Bloom Energy (NYSE:BE) Shares Gap Down – What’s Next?

Bloom Energy Co. (NYSE:BE)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $25.39, but opened at $24.54. Bloom Energy shares last traded at $24.43, with a volume of 353,437 shares changing hands.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BE shares. Roth Capital upgraded shares of Bloom Energy to a “hold” rating in a report on Tuesday, December 10th. Morgan Stanley upped their price target on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a report on Wednesday, November 20th. Jefferies Financial Group raised their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Finally, Susquehanna lifted their price target on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Bloom Energy has an average rating of “Hold” and an average price target of $23.72.

Bloom Energy Trading Down 4.2 %

The stock’s 50-day simple moving average is $24.33 and its two-hundred day simple moving average is $16.83. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The firm has a market capitalization of $5.56 billion, a P/E ratio of -43.45 and a beta of 3.06.

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the business’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the sale, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,528 shares of company stock valued at $3,061,501. Company insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds have recently made changes to their positions in BE. Creative Planning grew its stake in shares of Bloom Energy by 31.5% in the 2nd quarter. Creative Planning now owns 34,394 shares of the company’s stock worth $421,000 after buying an additional 8,244 shares in the last quarter. Wesbanco Bank Inc. grew its position in Bloom Energy by 66.1% in the third quarter. Wesbanco Bank Inc. now owns 103,000 shares of the company’s stock worth $1,088,000 after acquiring an additional 41,000 shares in the last quarter. Gruss & Co. LLC bought a new stake in Bloom Energy during the third quarter worth approximately $158,000. Gilliland Jeter Wealth Management LLC raised its position in Bloom Energy by 97.7% during the third quarter. Gilliland Jeter Wealth Management LLC now owns 8,500 shares of the company’s stock valued at $90,000 after purchasing an additional 4,200 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Bloom Energy by 1,490.8% in the 3rd quarter. International Assets Investment Management LLC now owns 185,328 shares of the company’s stock valued at $19,570,000 after purchasing an additional 173,678 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

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.