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

Bloom Energy Co. (NYSE:BE - Get Free Report)'s share price gapped down before the market opened on Thursday . The stock had previously closed at $18.21, but opened at $17.68. Bloom Energy shares last traded at $17.62, with a volume of 1,203,097 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on BE. Redburn Atlantic cut Bloom Energy from a "neutral" rating to a "sell" rating and decreased their target price for the company from $14.50 to $10.00 in a research report on Wednesday, April 9th. Truist Financial cut their target price on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. HSBC upgraded shares of Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price target for the company in a report on Tuesday, April 8th. Robert W. Baird lowered their target price on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Morgan Stanley cut their price target on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Bloom Energy presently has a consensus rating of "Moderate Buy" and an average price target of $22.97.

Bloom Energy Trading Down 0.3%

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 firm has a market cap of $4.21 billion, a price-to-earnings ratio of -32.41 and a beta of 3.25. The firm's fifty day moving average is $19.12 and its 200-day moving average is $21.81.

Bloom Energy (NYSE:BE - Get Free Report) last announced its quarterly earnings data 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. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The company had revenue of $326.02 million for the quarter, compared to the consensus estimate of $294.27 million. During the same period in the previous year, the business earned ($0.17) EPS. The firm's revenue was up 38.5% compared to the same quarter last year. Equities analysts anticipate that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,496 shares of the company's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $19.89, for a total transaction of $29,755.44. Following the transaction, the insider now owns 229,682 shares in the company, valued at approximately $4,568,374.98. This represents a 0.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Satish Chitoori sold 1,020 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the sale, the insider now owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This represents a 0.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,375 shares of company stock worth $1,053,445. Corporate insiders own 3.60% of the company's stock.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new stake in Bloom Energy in the 4th quarter valued at $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Bloom Energy during the fourth quarter valued at about $61,968,000. Elemental Capital Partners LLC acquired a new position in shares of Bloom Energy during the fourth quarter valued at about $33,612,000. Trivest Advisors Ltd bought a new stake in shares of Bloom Energy during the fourth quarter worth about $30,539,000. Finally, Tree Line Advisors Hong Kong Ltd. acquired a new stake in shares of Bloom Energy in the 1st quarter worth about $22,609,000. 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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