Bloom Energy (NYSE:BE) Shares Gap Down – Time to Sell?

Bloom Energy Co. (NYSE:BE) gapped down prior to trading 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 changing hands.

Analyst Ratings Changes

A number of brokerages recently weighed in on BE. Robert W. Baird raised their price target on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Royal Bank of Canada lifted their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an “outperform” rating in a research note on Monday, November 18th. Piper Sandler increased their price objective on Bloom Energy from $30.00 to $33.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America lifted their target price on shares of Bloom Energy from $7.00 to $20.00 and gave the stock an “underperform” rating in a research note on Monday, December 9th. Finally, Susquehanna increased their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the company a “positive” rating in a research report on Friday, December 6th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $23.24.

Bloom Energy Stock Down 27.9 %

The business’s 50 day moving average price is $24.77 and its 200-day moving average price is $16.21. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36. The firm has a market capitalization of $4.91 billion, a PE ratio of -38.39 and a beta of 3.06.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of Bloom Energy stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $24.56, for a total value 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 $4,139,858.16. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,528 shares of company stock valued at $3,061,501 over the last quarter. 8.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BE. Millburn Ridgefield Corp grew its holdings in 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. Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy during the third quarter worth $34,000. Avior Wealth Management LLC purchased a new position in Bloom Energy in the fourth quarter valued at $40,000. GAMMA Investing LLC raised its stake in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after buying an additional 569 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Bloom Energy during the 3rd quarter worth about $74,000. 77.04% of the stock is currently owned by hedge funds and other 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.