Bloom Energy (NYSE:BE) Shares Gap Down – Should You Sell?

Shares of Bloom Energy Co. (NYSE:BE) gapped down prior to trading 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 traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Robert W. Baird raised their target price on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Piper Sandler boosted their target price on shares of Bloom Energy from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Roth Capital upgraded Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Bank of America decreased their target price on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Finally, Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $23.72.

Bloom Energy Price Performance

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

Insider Buying and Selling

In related news, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’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 directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,528 shares of company stock worth $3,061,501. Corporate insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Large investors have recently modified their holdings of the stock. JAT Capital Mgmt LP lifted its position in Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock valued at $23,221,000 after buying an additional 733,363 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company’s stock valued at $36,737,000 after acquiring an additional 10,265 shares during the period. Elemental Capital Partners LLC bought a new stake in Bloom Energy during the fourth quarter worth about $33,612,000. Trivest Advisors Ltd purchased a new stake in Bloom Energy in the fourth quarter worth about $30,539,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Bloom Energy by 68.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company’s stock valued at $22,798,000 after purchasing an additional 417,120 shares during the last quarter. 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.