Bloom Energy (NYSE:BE) Shares Gap Up – Should You Buy?

Shares of Bloom Energy Co. (NYSE:BE) gapped up before the market opened 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.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Royal Bank of Canada upped their price target on Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a report on Monday, November 18th. Robert W. Baird lifted their price target 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. Jefferies Financial Group boosted their price target on shares of Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a report on Friday, November 22nd. HSBC downgraded shares of Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 price objective for the company. in a report on Wednesday, November 20th. Finally, BMO Capital Markets upped their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Bloom Energy has an average rating of “Hold” and an average price target of $23.13.

Bloom Energy Trading Up 9.4 %

The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The business’s fifty day moving average is $24.69 and its two-hundred day moving average is $16.32. The firm has a market cap of $5.10 billion, a price-to-earnings ratio of -39.86 and a beta of 3.06.

Insider Activity

In other news, CEO Kr Sridhar sold 72,903 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total value of $1,824,033.06. Following the completion of the sale, the chief executive officer now directly owns 1,869,593 shares of the company’s stock, valued at $46,777,216.86. This represents a 3.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,528 shares of company stock valued at $3,061,501. Company insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of BE. Millburn Ridgefield Corp grew its position in shares of Bloom Energy by 29.2% in the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after purchasing an additional 528 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy during the third quarter worth approximately $34,000. Avior Wealth Management LLC bought a new position in Bloom Energy during the 4th quarter worth $40,000. GAMMA Investing LLC lifted its position in shares of Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after acquiring an additional 569 shares during the period. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Bloom Energy during the 3rd quarter worth $74,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.