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

Key Points

• Bloom Energy's stock experienced a significant drop, opening at $41.42 after previously closing at $44.08, with the last traded price at $43.64.
• A range of analyst ratings have emerged, with Piper Sandler lowering their target price to $26 while JPMorgan upgraded it to $33, reflecting mixed sentiment among analysts.
• Bloom Energy reported a 19.5% year-over-year revenue increase in its latest quarterly earnings, posting revenue of $401.24 million and beating earnings estimates.

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $44.08, but opened at $41.42. Bloom Energy shares last traded at $43.64, with a volume of 1,509,262 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BE. Piper Sandler lowered their target price on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. JPMorgan Chase & Co. upgraded shares of 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 research report on Wednesday, July 9th. Jefferies Financial Group lowered their target price on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Truist Financial decreased their price target on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a report on Monday, April 21st. Finally, Wells Fargo & Company increased their price target on Bloom Energy from $22.00 to $38.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.39.

Bloom Energy Stock Down 1.2%

The company has a debt-to-equity ratio of 2.18, a quick ratio of 3.21 and a current ratio of 4.99. The company has a market cap of $10.19 billion, a PE ratio of 1,088.52 and a beta of 3.28. The firm has a fifty day simple moving average of $27.60 and a 200 day simple moving average of $23.20.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. The company had revenue of $401.24 million during the quarter, compared to analysts' expectations of $382.23 million. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%. The firm's revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) EPS. Equities research analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Transactions at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,496 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $19.89, for a total transaction of $29,755.44. Following the transaction, the insider directly owned 229,682 shares of the company's stock, valued at approximately $4,568,374.98. The trade was a 0.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Maciej Kurzymski sold 1,012 shares of the business's stock in a transaction that occurred on Wednesday, July 16th. The stock was sold at an average price of $25.27, for a total value of $25,573.24. Following the transaction, the insider directly owned 108,848 shares in the company, valued at $2,750,588.96. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,654 shares of company stock valued at $263,667 in the last quarter. Company insiders own 3.60% of the company's stock.

Hedge Funds Weigh In On Bloom Energy

Institutional investors have recently made changes to their positions in the business. Banque Transatlantique SA raised its position in shares of Bloom Energy by 227.6% in 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. raised 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 valued at $31,000 after acquiring an additional 1,512 shares in the last quarter. Quarry LP acquired a new stake in shares of Bloom Energy during the 4th quarter valued at approximately $35,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Bloom Energy during the 2nd quarter valued at approximately $36,000. Finally, NewEdge Advisors LLC raised its position in shares of Bloom Energy by 674.7% during the 1st quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock valued at $37,000 after acquiring an additional 1,626 shares in the last quarter. 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.

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