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

Bloom Energy Corporation (NYSE:BE) shares gapped down before the market opened on Monday . The stock had previously closed at $134.07, but opened at $129.70. Bloom Energy shares last traded at $131.86, with a volume of 2,246,867 shares changing hands.

Wall Street Analyst Weigh In

BE has been the topic of a number of research reports. Daiwa Capital Markets set a $98.00 target price on shares of Bloom Energy in a research report on Tuesday, December 2nd. BTIG Research raised their price objective on Bloom Energy to $145.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Oppenheimer reiterated a “market perform” rating on shares of Bloom Energy in a report on Wednesday, October 29th. Truist Financial set a $68.00 price target on Bloom Energy in a research report on Friday, January 9th. Finally, Wells Fargo & Company lifted their price objective on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Bloom Energy presently has a consensus rating of “Hold” and a consensus target price of $96.00.

Bloom Energy Trading Down 4.6%

The company has a 50 day moving average of $105.31 and a two-hundred day moving average of $78.02. The stock has a market capitalization of $31.53 billion, a PE ratio of 760.39, a P/E/G ratio of 11.53 and a beta of 3.01. The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40.

Bloom Energy (NYSE:BE) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $519.05 million for the quarter, compared to analyst estimates of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The company’s revenue was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Sell-side analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,583 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $105.97, for a total value of $167,750.51. Following the sale, the insider owned 221,633 shares in the company, valued at $23,486,449.01. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Satish Chitoori sold 431 shares of Bloom Energy stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $88.12, for a total value of $37,979.72. Following the transaction, the insider owned 229,449 shares of the company’s stock, valued at approximately $20,219,045.88. This represents a 0.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 120,410 shares of company stock worth $16,557,185. 3.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BE. N.E.W. Advisory Services LLC purchased a new stake in Bloom Energy in the 3rd quarter worth $32,000. Fifth Third Bancorp purchased a new stake in shares of Bloom Energy during the third quarter worth about $32,000. Parkside Financial Bank & Trust increased its stake in shares of Bloom Energy by 250.9% during the third quarter. Parkside Financial Bank & Trust now owns 393 shares of the company’s stock worth $33,000 after purchasing an additional 281 shares in the last quarter. Elevation Point Wealth Partners LLC acquired a new position in shares of Bloom Energy during the 2nd quarter worth about $36,000. Finally, NewEdge Advisors LLC boosted its holdings in Bloom Energy by 674.7% in the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company’s stock worth $37,000 after buying an additional 1,626 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company’s stock.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.