Bloom Energy (NYSE:BE) Shares Gap Up - Time to Buy?

Bloom Energy Co. (NYSE:BE - Get Free Report)'s share price gapped up before the market opened on Wednesday . The stock had previously closed at $25.75, but opened at $26.95. Bloom Energy shares last traded at $26.43, with a volume of 1,259,455 shares traded.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BE. HSBC downgraded shares of Bloom Energy from a "buy" rating to a "hold" rating and set a $24.50 price target on the stock. in a research report on Wednesday, November 20th. Morgan Stanley increased their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the company an "overweight" rating in a research note on Monday, November 18th. Hsbc Global Res upgraded shares of Bloom Energy to a "hold" rating in a research report on Wednesday, November 20th. Jefferies Financial Group upped their price objective on Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a report on Friday, November 22nd. Finally, Piper Sandler boosted their target price on Bloom Energy from $20.00 to $30.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $23.08.

Bloom Energy Stock Performance

The stock has a fifty day moving average of $24.31 and a 200-day moving average of $15.96. The firm has a market capitalization of $6.76 billion, a P/E ratio of -52.82 and a beta of 3.06. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

Insider Activity

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the business's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares in the company, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kr Sridhar sold 72,903 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total transaction of $1,824,033.06. Following the completion of the sale, the chief executive officer now owns 1,869,593 shares of the company's stock, valued at $46,777,216.86. This trade represents a 3.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock worth $3,061,501 over the last ninety days. Insiders own 8.81% of the company's stock.

Institutional Trading of Bloom Energy

Several institutional investors and hedge funds have recently bought and sold shares of the business. SeaBridge Investment Advisors LLC acquired a new stake in shares of Bloom Energy during the 4th quarter worth about $251,000. Avior Wealth Management LLC acquired a new stake in Bloom Energy during the fourth quarter worth approximately $40,000. Wesbanco Bank Inc. boosted its holdings in shares of Bloom Energy by 3.9% during the fourth quarter. Wesbanco Bank Inc. now owns 107,000 shares of the company's stock worth $2,376,000 after acquiring an additional 4,000 shares during the period. Chesley Taft & Associates LLC acquired a new position in shares of Bloom Energy in the fourth quarter valued at approximately $225,000. Finally, M.E. Allison & CO. Inc. bought a new position in Bloom Energy during the 4th quarter worth $711,000. Institutional investors own 77.04% of the company's stock.

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.