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 $26.92, but opened at $26.06. Bloom Energy shares last traded at $25.83, with a volume of 1,711,147 shares.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on BE shares. Jefferies Financial Group upped their price objective on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. Truist Financial cut their target price on Bloom Energy from $13.00 to $12.00 and set a “hold” rating for the company in a research note on Wednesday, October 16th. Morgan Stanley boosted their target price on Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Royal Bank of Canada upped their target price on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research note on Monday, November 18th. Finally, UBS Group raised their target price on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus price target of $19.14.

Bloom Energy Stock Up 0.5 %

The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of -46.93 and a beta of 3.04. The firm has a fifty day moving average price of $14.83 and a 200 day moving average price of $13.53. 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 Activity

In related news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now directly owns 168,561 shares of the company’s stock, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kr Sridhar sold 72,903 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 122,975 shares of company stock valued at $3,045,019. 8.81% of the stock is currently owned by insiders.

Institutional Trading of Bloom Energy

A number of institutional investors have recently modified their holdings of BE. Electron Capital Partners LLC lifted its position in Bloom Energy by 131.5% during the 2nd quarter. Electron Capital Partners LLC now owns 3,152,944 shares of the company’s stock worth $38,592,000 after acquiring an additional 1,790,733 shares in the last quarter. JAT Capital Mgmt LP increased its holdings 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 valued at $23,221,000 after acquiring an additional 733,363 shares during the last quarter. DigitalBridge Group Inc. increased its holdings in shares of Bloom Energy by 66.3% in the 2nd quarter. DigitalBridge Group Inc. now owns 1,160,389 shares of the company’s stock valued at $14,203,000 after acquiring an additional 462,581 shares during the last quarter. Pinnacle Associates Ltd. increased its holdings in shares of Bloom Energy by 48.6% in the 2nd quarter. Pinnacle Associates Ltd. now owns 869,586 shares of the company’s stock valued at $10,644,000 after acquiring an additional 284,298 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of Bloom Energy by 64.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 830,405 shares of the company’s stock valued at $11,017,000 after acquiring an additional 325,814 shares during the last quarter. 77.04% of the stock is currently owned by 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.