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

Bloom Energy Co. (NYSE:BE) gapped down before the market opened on Monday . The stock had previously closed at $29.81, but opened at $24.63. Bloom Energy shares last traded at $23.17, with a volume of 5,163,929 shares trading hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on BE. JPMorgan Chase & Co. boosted their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday. 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 report on Friday, November 22nd. HSBC lowered Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a report on Wednesday, November 20th. Robert W. Baird boosted their price target on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Finally, Hsbc Global Res raised shares of Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and a consensus price target of $23.24.

Bloom Energy Stock Down 27.9 %

The firm has a market cap of $4.91 billion, a P/E ratio of -38.39 and a beta of 3.06. 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 business has a 50-day moving average price of $24.77 and a 200-day moving average price of $16.21.

Insider Buying and Selling at Bloom Energy

In related news, CEO Kr Sridhar sold 72,903 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 $46,777,216.86. This trade represents a 3.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This represents a 0.76 % decrease in their position. 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. 8.81% of the stock is currently owned by corporate insiders.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Avior Wealth Management LLC acquired a new position in shares of Bloom Energy in the 4th quarter valued at $40,000. Millburn Ridgefield Corp boosted its stake in shares of Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of 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 purchasing an additional 569 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Bloom Energy in the 3rd quarter worth about $34,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in Bloom Energy in the third quarter valued at approximately $74,000. Institutional investors and hedge funds 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.