Bloom Energy (NYSE:BE) Shares Gap Down to $11.03

Bloom Energy Co. (NYSE:BE)’s share price gapped down before the market opened on Friday . The stock had previously closed at $11.03, but opened at $10.41. Bloom Energy shares last traded at $10.00, with a volume of 1,058,794 shares.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BE shares. Piper Sandler boosted their price target on Bloom Energy from $10.00 to $11.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. BTIG Research upped their target price on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. UBS Group lowered their price target on Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Truist Financial increased their price objective on shares of Bloom Energy from $12.00 to $13.00 and gave the stock a “hold” rating in a report on Monday, August 12th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.88.

Bloom Energy Trading Down 13.1 %

The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The firm has a market cap of $2.18 billion, a P/E ratio of -7.33 and a beta of 2.69. The business’s 50 day moving average is $12.44 and its 200-day moving average is $12.02.

Bloom Energy (NYSE:BE) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). Bloom Energy had a negative return on equity of 11.90% and a negative net margin of 21.37%. The firm had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. During the same period in the previous year, the company earned ($0.32) earnings per share. Bloom Energy’s quarterly revenue was up 11.5% on a year-over-year basis. As a group, analysts forecast that Bloom Energy Co. will post -0.25 earnings per share for the current fiscal year.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 2,094 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $14.53, for a total transaction of $30,425.82. Following the sale, the insider now directly owns 168,867 shares in the company, valued at approximately $2,453,637.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.81% of the company’s stock.

Institutional Investors Weigh In On Bloom Energy

Several large investors have recently made changes to their positions in the company. Millburn Ridgefield Corp increased its holdings in shares of Bloom Energy by 64.0% during the first quarter. Millburn Ridgefield Corp now owns 3,296 shares of the company’s stock valued at $37,000 after purchasing an additional 1,286 shares during the period. BNP Paribas acquired a new position in Bloom Energy during the 1st quarter valued at about $38,000. ORG Partners LLC bought a new stake in shares of Bloom Energy during the 2nd quarter worth about $40,000. Quest Partners LLC lifted its stake in shares of Bloom Energy by 2,780.0% in the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock worth $44,000 after acquiring an additional 3,475 shares during the period. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of Bloom Energy in the second quarter valued at approximately $53,000. 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.