Bloom Energy (NYSE:BE) Shares Gap Down – What’s Next?

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 trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Jefferies Financial Group upped their price objective on shares of Bloom Energy from $12.00 to $22.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. UBS Group raised their price objective on shares of Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Roth Mkm started coverage on Bloom Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $25.00 price target on the stock. Finally, BTIG Research raised their price objective on Bloom Energy from $20.00 to $30.00 and gave the company a “buy” rating in a report on Monday, December 16th. 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 MarketBeat, Bloom Energy has a consensus rating of “Hold” and a consensus target price of $23.13.

Bloom Energy Price Performance

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 stock has a 50 day simple moving average of $24.69 and a 200-day simple moving average of $16.32.

Insiders Place Their Bets

In related news, insider Shawn Marie Soderberg sold 1,639 shares of the stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now owns 171,040 shares in the company, valued at $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares of the company’s stock, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,528 shares of company stock valued at $3,061,501. Corporate insiders own 8.81% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Elemental Capital Partners LLC bought a new stake in Bloom Energy during the 4th quarter worth approximately $33,612,000. JAT Capital Mgmt LP increased its stake in shares of Bloom Energy by 50.0% in the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company’s stock worth $23,221,000 after purchasing an additional 733,363 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Bloom Energy during the 3rd quarter valued at $3,762,000. Edgestream Partners L.P. purchased a new position in shares of Bloom Energy during the 3rd quarter valued at $3,274,000. Finally, Temasek Holdings Private Ltd bought a new position in Bloom Energy in the 3rd quarter worth $3,249,000. 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.