Bloom Energy (NYSE:BE) Shares Gap Up - Still a Buy?

Bloom Energy Corporation (NYSE:BE - Get Free Report)'s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $24.30, but opened at $26.08. Bloom Energy shares last traded at $27.23, with a volume of 4,465,868 shares trading hands.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Royal Bank Of Canada set a $26.00 price objective on Bloom Energy in a report on Monday, April 14th. Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Truist Financial decreased their price target on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Robert W. Baird decreased their target price on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Susquehanna cut their price target on Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $23.97.

Bloom Energy Stock Up 17.9%

The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of -572.89 and a beta of 3.22. 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 business's 50 day moving average is $20.65 and its 200 day moving average is $21.78.

Bloom Energy (NYSE:BE - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a return on equity of 2.51% and a net margin of 0.29%. The company had revenue of $326.02 million during the quarter, compared to analyst estimates of $294.27 million. During the same quarter last year, the business posted ($0.17) EPS. The firm's quarterly revenue was up 38.5% on a year-over-year basis. Sell-side analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Transactions at Bloom Energy

In other Bloom Energy news, insider Satish Chitoori sold 2,038 shares of Bloom Energy stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total transaction of $40,209.74. Following the completion of the sale, the insider directly owned 176,618 shares in the company, valued at approximately $3,484,673.14. The trade was a 1.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kr Sridhar sold 42,383 shares of the stock in a transaction on Tuesday, May 13th. The stock was 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 owned 2,724,613 shares in the company, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 62,501 shares of company stock valued at $1,236,191. 3.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Bloom Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in Bloom Energy by 23.7% during the first quarter. CWM LLC now owns 3,360 shares of the company's stock valued at $66,000 after buying an additional 644 shares during the period. Arizona State Retirement System boosted its stake in shares of Bloom Energy by 1.3% during the 4th quarter. Arizona State Retirement System now owns 59,592 shares of the company's stock worth $1,324,000 after acquiring an additional 759 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Bloom Energy by 120.5% during the 4th quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after acquiring an additional 812 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Bloom Energy by 291.0% in 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. Finally, Xponance Inc. increased its stake in shares of Bloom Energy by 6.4% in the 1st quarter. Xponance Inc. now owns 15,484 shares of the company's stock valued at $304,000 after purchasing an additional 935 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.