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 $23.42, but opened at $21.99. Bloom Energy shares last traded at $21.27, with a volume of 3,256,785 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BE shares. Morgan Stanley lifted their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. JPMorgan Chase & Co. boosted their price target on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Susquehanna raised their price objective on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research note on Friday, December 6th. Jefferies Financial Group boosted their target price on Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Finally, TD Cowen increased their price target on Bloom Energy from $13.00 to $20.00 and gave the company a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.47.

Bloom Energy Stock Down 2.6 %

The business’s 50 day simple moving average is $24.08 and its 200 day simple moving average is $18.21. The company has a market capitalization of $5.21 billion, a PE ratio of -40.73 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.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company’s stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 8.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently added to or reduced their stakes in BE. Millburn Ridgefield Corp increased its stake in shares of Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the period. GAMMA Investing LLC grew its holdings in Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after buying an additional 569 shares during the last quarter. Arizona State Retirement System increased its position in Bloom Energy by 1.3% in the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock worth $1,324,000 after buying an additional 759 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Bloom Energy by 120.5% during the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after buying an additional 812 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock valued at $28,000 after acquiring an additional 934 shares during the period. Institutional investors own 77.04% of the company’s stock.

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.