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

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 changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BE shares. Hsbc Global Res raised Bloom Energy from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 8th. Truist Financial dropped their target price on shares of Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Susquehanna decreased their price target on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating for the company in a report on Monday, April 14th. Morgan Stanley dropped their price objective on shares of Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research note on Thursday, May 1st. Finally, UBS Group reaffirmed a "buy" rating on shares of Bloom Energy in a report on Wednesday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Bloom Energy presently has an average rating of "Moderate Buy" and an average target price of $22.97.

Bloom Energy Price Performance

The company has a debt-to-equity ratio of 2.07, a current ratio of 3.44 and a quick ratio of 2.39. The stock's 50 day simple moving average is $20.13 and its two-hundred day simple moving average is $21.73. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of -484.70 and a beta of 3.22.

Bloom Energy (NYSE:BE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.10. Bloom Energy had a net margin of 0.29% and a return on equity of 2.51%. 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) earnings per share. The company's revenue was up 38.5% on a year-over-year basis. On average, analysts forecast that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Aman Joshi sold 4,658 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $19.72, for a total value of $91,855.76. Following the completion of the sale, the insider owned 131,371 shares in the company, valued at $2,590,636.12. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Satish Chitoori sold 2,038 shares of the business's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $19.73, for a total value of $40,209.74. Following the completion of the transaction, the insider directly owned 176,618 shares of the company's stock, valued at approximately $3,484,673.14. The trade was a 1.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 62,501 shares of company stock worth $1,236,191. 3.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of BE. Smartleaf Asset Management LLC increased its holdings in shares of Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after acquiring an additional 934 shares during the last quarter. Mainstream Capital Management LLC bought a new stake in shares of Bloom Energy during the 4th quarter worth about $28,000. Banque Transatlantique SA raised its holdings in 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 acquiring an additional 1,161 shares during the period. Harbour Investments Inc. increased its stake in shares of Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock worth $31,000 after purchasing an additional 1,512 shares during the period. Finally, Jones Financial Companies Lllp grew its stake in shares of Bloom Energy by 120.5% in the fourth 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 in the last quarter. 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.