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

Shares of Bloom Energy Corporation (NYSE:BE - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $22.18, but opened at $24.65. Bloom Energy shares last traded at $23.97, with a volume of 2,352,740 shares trading hands.

Analyst Ratings Changes

A number of analysts have recently commented on BE shares. Mizuho upgraded Bloom Energy from a "neutral" rating to an "outperform" rating and lowered their target price for the stock from $28.00 to $26.00 in a research note on Monday, May 5th. HSBC raised 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. Susquehanna dropped their price objective on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a research note on Monday, April 14th. Royal Bank Of Canada set a $26.00 price target on shares of Bloom Energy in a report on Monday, April 14th. Finally, Piper Sandler cut their price objective on shares of Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, nine have issued 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 an average rating of "Moderate Buy" and a consensus price target of $22.97.

Bloom Energy Stock Performance

The company has a quick ratio of 2.39, a current ratio of 3.44 and a debt-to-equity ratio of 2.07. The firm has a 50-day moving average price of $19.64 and a two-hundred day moving average price of $21.75. The firm has a market cap of $5.55 billion, a PE ratio of -477.50 and a beta of 3.21.

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 for the quarter, beating 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 for the quarter, compared to analyst estimates of $294.27 million. During the same quarter last year, the firm posted ($0.17) EPS. The firm's revenue for the quarter was up 38.5% on a year-over-year basis. Research analysts forecast that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,496 shares of the firm's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $19.89, for a total value of $29,755.44. Following the completion of the sale, the insider now directly owns 229,682 shares of the company's stock, valued at $4,568,374.98. This trade represents a 0.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kr Sridhar sold 42,383 shares of the business's stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the transaction, the chief executive officer now directly owns 2,724,613 shares in the company, valued at approximately $52,149,092.82. The trade was a 1.53% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,501 shares of company stock valued at $1,236,191. Corporate insiders own 3.50% of the company's stock.

Institutional Trading of Bloom Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Bloom Energy by 130.2% during the 4th quarter. IFP Advisors Inc now owns 3,914 shares of the company's stock worth $87,000 after purchasing an additional 2,214 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Bloom Energy by 68.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company's stock valued at $22,798,000 after acquiring an additional 417,120 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Bloom Energy in the 4th quarter valued at approximately $637,000. Proficio Capital Partners LLC acquired a new position in shares of Bloom Energy in the 4th quarter worth approximately $787,000. Finally, John G Ullman & Associates Inc. boosted its position in shares of Bloom Energy by 7.2% during the 4th quarter. John G Ullman & Associates Inc. now owns 287,200 shares of the company's stock worth $6,379,000 after purchasing an additional 19,200 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.