Bloom Energy (NYSE:BE) Shares Gap Down - Should You Sell?

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $28.71, but opened at $26.26. Bloom Energy shares last traded at $26.27, with a volume of 5,919,415 shares.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BE. JPMorgan Chase & Co. raised Bloom Energy from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $18.00 to $33.00 in a report on Wednesday. Jefferies Financial Group dropped their price target on Bloom Energy from $25.00 to $19.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. Mizuho raised Bloom Energy from a "neutral" rating to an "outperform" rating and reduced their price objective for the stock from $28.00 to $26.00 in a research note on Monday, May 5th. Robert W. Baird decreased their price objective on shares of Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Finally, Piper Sandler decreased their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $23.97.

Bloom Energy Stock Down 1.6%

The stock has a market capitalization of $5.91 billion, a PE ratio of -508.70 and a beta of 3.22. The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39. The business's fifty day moving average price is $20.83 and its two-hundred day moving average price is $21.79.

Bloom Energy (NYSE:BE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. The company had revenue of $326.02 million during the quarter, compared to the consensus estimate of $294.27 million. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. The firm's quarterly revenue was up 38.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.17) earnings per share. On average, equities research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 2,038 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total value of $40,209.74. Following the completion of the transaction, the insider owned 176,618 shares in the company, valued at approximately $3,484,673.14. This represents a 1.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shawn Marie Soderberg sold 2,780 shares of the company's stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total transaction of $54,821.60. Following the transaction, the insider owned 152,890 shares of the company's stock, valued at approximately $3,014,990.80. This trade represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,501 shares of company stock valued at $1,236,191 over the last ninety days. Corporate insiders own 3.60% of the company's stock.

Institutional Trading of Bloom Energy

Large investors have recently bought and sold shares of the business. Smartleaf Asset Management LLC grew its stake in shares of Bloom Energy by 291.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after buying an additional 934 shares during the period. Banque Transatlantique SA boosted its position in shares of Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock worth $30,000 after purchasing an additional 1,161 shares during the period. Harbour Investments Inc. boosted its position in shares of Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after purchasing an additional 1,512 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares during the period. Finally, Quarry LP purchased a new position in shares of Bloom Energy during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 77.04% of the company's stock.

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.