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

Bloom Energy Co. (NYSE:BE)’s share price gapped down before the market opened on Monday . The stock had previously closed at $23.58, but opened at $22.00. Bloom Energy shares last traded at $23.09, with a volume of 723,745 shares traded.

Wall Street Analyst Weigh In

BE has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, January 23rd. BTIG Research lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Susquehanna increased their price objective on Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a report on Friday, December 6th. Robert W. Baird boosted their target price 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, BMO Capital Markets lifted their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research note on Friday, November 15th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.13.

Bloom Energy Stock Up 1.6 %

The company has a market cap of $5.47 billion, a PE ratio of -42.77 and a beta of 3.06. The stock’s 50 day moving average price is $24.60 and its 200-day moving average price is $16.49. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Insider Buying and Selling at Bloom Energy

In other news, CEO Kr Sridhar sold 72,903 shares of Bloom Energy stock in a transaction dated 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 sale, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction dated 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. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 122,528 shares of company stock worth $3,061,501 over the last three months. Company insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in BE. Elemental Capital Partners LLC bought a new stake in Bloom Energy during the fourth quarter worth about $33,612,000. JAT Capital Mgmt LP grew its stake in shares of Bloom Energy by 50.0% in the 3rd quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after buying an additional 733,363 shares during the last quarter. Erste Asset Management GmbH bought a new position in Bloom Energy during the 3rd quarter valued at approximately $3,762,000. Edgestream Partners L.P. bought a new stake in Bloom Energy in the third quarter worth $3,274,000. Finally, Temasek Holdings Private Ltd purchased a new stake in shares of Bloom Energy in the third quarter worth $3,249,000. Institutional investors 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.