Bloom Energy (NYSE:BE) Shares Gap Down – Here’s What Happened

Shares of Bloom Energy Co. (NYSE:BE) gapped down before the market opened on Friday . The stock had previously closed at $21.99, but opened at $21.42. Bloom Energy shares last traded at $21.66, with a volume of 542,298 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. BTIG Research increased their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Roth Capital raised shares of Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Truist Financial lifted their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, January 16th. Roth Mkm began coverage on Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price target on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.06.

Bloom Energy Stock Performance

The firm has a market cap of $4.80 billion, a P/E ratio of -37.18 and a beta of 3.30. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The business’s 50-day simple moving average is $24.08 and its 200 day simple moving average is $19.63.

Insider Transactions at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction 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 in the company, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $25.09, for a total transaction of $25,591.80. Following the sale, the insider now directly owns 178,656 shares of the company’s stock, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Millburn Ridgefield Corp raised 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 buying an additional 528 shares during the period. GAMMA Investing LLC increased 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 worth $60,000 after acquiring an additional 569 shares in the last quarter. Arizona State Retirement System lifted its holdings in Bloom Energy by 1.3% during the fourth quarter. Arizona State Retirement System now owns 59,592 shares of the company’s stock valued at $1,324,000 after purchasing an additional 759 shares in the last quarter. Jones Financial Companies Lllp boosted its position in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock worth $33,000 after purchasing an additional 812 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake 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 worth $28,000 after purchasing an additional 934 shares in 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.