Bloom Energy (NYSE:BE) Shares Gap Down - What's Next?

Bloom Energy Corporation (NYSE:BE - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $22.91, but opened at $21.61. Bloom Energy shares last traded at $21.81, with a volume of 413,958 shares changing hands.

Analysts Set New Price Targets

BE has been the topic of a number of research reports. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target on the stock in a research note on Tuesday, April 8th. BMO Capital Markets reiterated a "market perform" rating on shares of Bloom Energy in a research note on Friday, February 28th. TD Cowen upped their price target on shares of Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, February 28th. Jefferies Financial Group decreased their price target on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Finally, Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $22.97.

Bloom Energy Trading Up 1.1%

The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. The stock has a market capitalization of $5.01 billion, a P/E ratio of -431.31 and a beta of 3.20. The firm's fifty day simple moving average is $18.99 and its 200 day simple moving average is $21.97.

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

Insider Buying and Selling at Bloom Energy

In other news, insider Maciej Kurzymski sold 8,733 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $22.79, for a total value of $199,025.07. Following the sale, the insider now directly owns 109,860 shares in the company, valued at approximately $2,503,709.40. This trade represents a 7.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of the firm's stock in a transaction that occurred on Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the sale, the chief executive officer now owns 2,724,613 shares in the company, valued at approximately $52,149,092.82. The trade was a 1.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,501 shares of company stock valued at $1,236,191 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $28,000. Smartleaf Asset Management LLC increased its stake in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after purchasing an additional 934 shares in the last quarter. Banque Transatlantique SA increased its stake in Bloom Energy by 227.6% during the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after purchasing an additional 1,161 shares in the last quarter. Harbour Investments Inc. increased its stake in Bloom Energy by 2,160.0% during the 1st quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after purchasing an additional 1,512 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in 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 acquiring an additional 812 shares during the last quarter. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Bloom Energy Company Profile

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.