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

Bloom Energy Co. (NYSE:BE) gapped up before the market opened on Wednesday . The stock had previously closed at $23.47, but opened at $24.67. Bloom Energy shares last traded at $24.12, with a volume of 707,184 shares trading hands.

Analysts Set New Price Targets

Several research analysts have commented on BE shares. 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. Bank of America increased their target price on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a report on Monday. Robert W. Baird dropped their price target on Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. BTIG Research raised their price objective on Bloom Energy from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, BMO Capital Markets increased their price target on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, eleven have assigned 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.com, Bloom Energy has a consensus rating of “Hold” and a consensus target price of $21.03.

Bloom Energy Price Performance

The stock has a 50 day moving average of $16.06 and a two-hundred day moving average of $13.81. 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 $5.55 billion, a P/E ratio of -41.91 and a beta of 3.04.

Insider Buying and Selling at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $24.56, for a total transaction of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 value of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 122,975 shares of company stock worth $3,045,019 over the last 90 days. Insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently bought and sold shares of BE. Franklin Resources Inc. grew its position in Bloom Energy by 62.4% during the third quarter. Franklin Resources Inc. now owns 125,598 shares of the company’s stock worth $1,314,000 after buying an additional 48,258 shares in the last quarter. Peapack Gladstone Financial Corp lifted its position in shares of Bloom Energy by 4.4% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 271,924 shares of the company’s stock worth $2,871,000 after acquiring an additional 11,525 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Bloom Energy during the 3rd quarter worth approximately $34,000. Duff & Phelps Investment Management Co. acquired a new stake in shares of Bloom Energy during the 3rd quarter worth approximately $517,000. Finally, Pier Capital LLC raised its stake in shares of Bloom Energy by 0.9% in the third quarter. Pier Capital LLC now owns 461,744 shares of the company’s stock valued at $4,876,000 after purchasing an additional 4,082 shares in the last quarter. 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.