Bloom Energy (NYSE:BE) Shares Gap Down - Here's Why

Key Points

• Bloom Energy's stock opened at $82.00 after closing at $86.27, reflecting a significant market gap down, and was last traded at $84.50 with high trading volume.
• Analysts have mixed ratings for Bloom Energy, with target price adjustments ranging from $21.00 to $65.00, leading to a consensus rating of "Moderate Buy" at an average target price of $32.45.
• In its latest earnings report, Bloom Energy exceeded expectations with earnings per share of $0.10 and revenue of $401.24 million, marking a 19.5% increase compared to the previous year.

Bloom Energy Corporation (NYSE:BE - Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $86.27, but opened at $82.00. Bloom Energy shares last traded at $84.50, with a volume of 3,074,596 shares changing hands.

Analyst Upgrades and Downgrades

BE has been the subject of a number of research analyst reports. Bank of America upped their target price on Bloom Energy from $21.00 to $24.00 and gave the company an "underperform" rating in a research report on Tuesday. Susquehanna lifted their price objective on shares of Bloom Energy from $26.00 to $30.00 and gave the company a "positive" rating in a research note on Monday, July 21st. Morgan Stanley lifted their price objective on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Robert W. Baird lifted their price objective on shares of Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Finally, Wells Fargo & Company increased their price objective on Bloom Energy from $38.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Friday, September 12th. Two research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $32.45.

Bloom Energy Stock Down 10.7%

The company has a market cap of $18.03 billion, a PE ratio of 1,927.23 and a beta of 3.28. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The firm's fifty day simple moving average is $47.18 and its 200-day simple moving average is $29.88.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Kr Sridhar sold 37,955 shares of Bloom Energy stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $53.39, for a total transaction of $2,026,417.45. Following the completion of the sale, the chief executive officer owned 2,378,663 shares in the company, valued at approximately $126,996,817.57. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Aman Joshi sold 4,870 shares of Bloom Energy stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $43.36, for a total value of $211,163.20. Following the sale, the insider owned 224,361 shares of the company's stock, valued at approximately $9,728,292.96. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 302,205 shares of company stock worth $14,919,283 in the last quarter. Corporate insiders own 3.50% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Prospera Financial Services Inc increased its stake in shares of Bloom Energy by 0.3% in the second quarter. Prospera Financial Services Inc now owns 95,532 shares of the company's stock worth $2,285,000 after acquiring an additional 313 shares during the last quarter. Ameritas Investment Partners Inc. increased its stake in shares of Bloom Energy by 2.1% in the second quarter. Ameritas Investment Partners Inc. now owns 20,917 shares of the company's stock worth $500,000 after acquiring an additional 425 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Bloom Energy by 2.8% in the second quarter. Blair William & Co. IL now owns 16,246 shares of the company's stock worth $389,000 after acquiring an additional 437 shares during the last quarter. CWM LLC increased its stake in shares of Bloom Energy by 23.7% in the first quarter. CWM LLC now owns 3,360 shares of the company's stock worth $66,000 after acquiring an additional 644 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of Bloom Energy by 2.5% in the second quarter. Steward Partners Investment Advisory LLC now owns 26,949 shares of the company's stock worth $645,000 after acquiring an additional 658 shares during the last quarter. 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.

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