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

Bloom Energy Co. (NYSE:BE) shares gapped down before the market opened on Tuesday . The stock had previously closed at $26.92, but opened at $26.06. Bloom Energy shares last traded at $25.83, with a volume of 1,711,147 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group raised their target price on shares of Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Jefferies Financial Group upped their price target on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a research note on Wednesday, November 20th. Finally, Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy has an average rating of “Hold” and an average target price of $19.14.

Bloom Energy Price Performance

The company’s 50 day simple moving average is $14.83 and its 200-day simple moving average is $13.53. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The company has a market capitalization of $6.01 billion, a price-to-earnings ratio of -46.93 and a beta of 3.04.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the transaction, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,975 shares of company stock valued at $3,045,019 over the last 90 days. 8.81% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Institutional investors have recently made changes to their positions in the company. Mizuho Markets Americas LLC increased its holdings in Bloom Energy by 8.2% in the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock valued at $4,335,000 after purchasing an additional 31,189 shares during the period. Parametrica Management Ltd bought a new position in Bloom Energy in the 3rd quarter valued at $785,000. Edgestream Partners L.P. bought a new stake in shares of Bloom Energy during the 3rd quarter worth $3,274,000. Penserra Capital Management LLC raised its position in Bloom Energy by 20.7% in the 3rd quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock worth $1,749,000 after purchasing an additional 28,416 shares during the period. Finally, International Assets Investment Management LLC raised its position in 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 worth $19,570,000 after purchasing an additional 173,678 shares during the period. Institutional investors own 77.04% of the company’s stock.

About Bloom Energy

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.