Bloom Energy (NYSE:BE) Shares Gap Down – Time to Sell?

Bloom Energy Co. (NYSE:BE) shares gapped down before the market opened on Monday . The stock had previously closed at $23.58, but opened at $22.00. Bloom Energy shares last traded at $23.09, with a volume of 723,745 shares trading hands.

Analysts Set New Price Targets

BE has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a report on Wednesday, November 20th. BTIG Research boosted their price objective on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research note on Monday, December 16th. Bank of America lowered their target price on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Finally, Susquehanna boosted their target price on shares of Bloom Energy from $20.00 to $33.00 and gave the stock a “positive” rating in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Bloom Energy presently has an average rating of “Hold” and an average target price of $23.13.

Bloom Energy Price Performance

The company’s 50-day simple moving average is $24.60 and its 200-day simple moving average is $16.49. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of -42.77 and a beta of 3.06.

Insider Buying and Selling

In other Bloom Energy news, CEO Kr Sridhar sold 72,903 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the transaction, the chief executive officer now owns 1,869,593 shares of the company’s stock, valued at approximately $46,777,216.86. The trade was a 3.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s 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 completion of the sale, the insider now owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 122,528 shares of company stock valued at $3,061,501. 8.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Avior Wealth Management LLC bought a new stake in Bloom Energy in the fourth quarter valued at $40,000. Millburn Ridgefield Corp increased its position in Bloom Energy by 29.2% in the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock valued at $25,000 after buying an additional 528 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Bloom Energy by 26.8% in the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after acquiring an additional 569 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Bloom Energy in the third quarter valued at approximately $34,000. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $74,000. 77.04% of the stock is 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.