Bloom Energy (NYSE:BE) Shares Gap Up – Here’s Why

Bloom Energy Co. (NYSE:BE) shares gapped up before the market opened on Wednesday . The stock had previously closed at $25.75, but opened at $26.95. Bloom Energy shares last traded at $26.43, with a volume of 1,259,455 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BTIG Research upped their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Truist Financial increased their price target on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. Jefferies Financial Group boosted their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. BMO Capital Markets boosted their price target on Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a report on Friday, November 15th. Finally, Robert W. Baird raised their price objective on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $22.97.

Bloom Energy Trading Up 2.1 %

The firm has a market capitalization of $6.01 billion, a PE ratio of -46.93 and a beta of 3.06. 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’s fifty day simple moving average is $23.83 and its 200 day simple moving average is $15.79.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the transaction, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 122,528 shares of company stock valued at $3,061,501. 3.50% of the stock is owned by company insiders.

Institutional Trading of Bloom Energy

Several hedge funds and other institutional investors have recently bought and sold shares of BE. Avior Wealth Management LLC acquired a new stake in shares of Bloom Energy in the fourth quarter worth approximately $40,000. Millburn Ridgefield Corp lifted its holdings in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares in the last quarter. GAMMA Investing LLC boosted its stake in Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Bloom Energy during the third quarter worth $34,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in shares of Bloom Energy during the third quarter worth $74,000. 77.04% of the stock is owned by institutional investors and hedge funds.

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.