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 Tuesday . The stock had previously closed at $24.19, but opened at $23.25. Bloom Energy shares last traded at $22.77, with a volume of 674,243 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial upped their target price on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. HSBC cut shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price on the stock. in a research note on Wednesday, November 20th. Robert W. Baird boosted their price objective on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Jefferies Financial Group raised their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Finally, Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Bloom Energy has an average rating of “Hold” and a consensus target price of $24.67.

Bloom Energy Trading Down 3.2 %

The stock has a market capitalization of $5.39 billion, a P/E ratio of -41.80 and a beta of 3.30. The stock’s fifty day moving average price is $24.10 and its 200 day moving average price is $19.06. 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 at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.81% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of the business. Millburn Ridgefield Corp raised its holdings in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after acquiring an additional 528 shares during the last quarter. Mainstream Capital Management LLC acquired a new stake in shares of Bloom Energy in the 4th quarter worth $28,000. Smartleaf Asset Management LLC raised its holdings in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company’s stock worth $28,000 after acquiring an additional 934 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company’s stock valued at $33,000 after acquiring an additional 812 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Bloom Energy in the third quarter worth approximately $34,000. Hedge funds and other 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.