Bloom Energy (NYSE:BE) Shares Gap Up – Time to Buy?

Bloom Energy Co. (NYSE:BE) gapped up prior to trading on Wednesday . The stock had previously closed at $20.40, but opened at $21.10. Bloom Energy shares last traded at $22.10, with a volume of 1,972,719 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Roth Mkm initiated coverage on shares of Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price objective for the company. Robert W. Baird increased their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. BMO Capital Markets boosted their price target on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research report on Friday, November 15th. Bank of America decreased their price objective on Bloom Energy from $20.00 to $18.00 and set an “underperform” rating for the company in a research report on Tuesday. Finally, HSBC cut Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price target for the company. in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $23.13.

Bloom Energy Trading Up 5.6 %

The stock has a market cap of $5.40 billion, a PE ratio of -42.20 and a beta of 3.06. The business has a 50-day moving average of $24.64 and a 200 day moving average of $16.41. 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 Transactions at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were 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. This represents a 0.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kr Sridhar sold 72,903 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value 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 $46,777,216.86. This represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 122,528 shares of company stock worth $3,061,501 in the last three months. Company insiders own 8.81% of the company’s stock.

Institutional Trading of Bloom Energy

Several hedge funds have recently made changes to their positions in BE. Avior Wealth Management LLC purchased a new stake in shares of Bloom Energy during the fourth quarter valued at $40,000. Millburn Ridgefield Corp increased its position in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after acquiring an additional 528 shares during the period. GAMMA Investing LLC increased its holdings in Bloom Energy by 26.8% in the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after buying an additional 569 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Bloom Energy during the third quarter worth about $34,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Bloom Energy in the third quarter valued at $74,000. Institutional investors own 77.04% of the company’s stock.

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.