Bloom Energy (NYSE:BE) Shares Gap Up – Here’s What Happened

Bloom Energy Co. (NYSE:BE) shares gapped up prior to trading on Wednesday . The stock had previously closed at $20.40, but opened at $21.10. Bloom Energy shares last traded at $22.10, with a volume of 1,972,719 shares trading hands.

Analysts Set New Price Targets

BE has been the topic of a number of research reports. Piper Sandler upped their price target on Bloom Energy from $30.00 to $33.00 and gave the stock an “overweight” rating in a research note on Monday. HSBC cut Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price on the stock. in a report on Wednesday, November 20th. Bank of America dropped their price objective on shares of Bloom Energy from $20.00 to $18.00 and set an “underperform” rating on the stock in a research note on Tuesday. Roth Capital raised shares of Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Finally, Roth Mkm began coverage on shares of Bloom Energy in a research report on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $23.13.

Bloom Energy Stock Up 9.4 %

The stock’s 50-day moving average price is $24.69 and its two-hundred day moving average price is $16.32. The stock has a market capitalization of $5.10 billion, a P/E ratio of -39.86 and a beta of 3.06. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Transactions at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 46,697 shares of Bloom Energy stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the transaction, the chief executive officer now owns 1,822,496 shares of the company’s stock, valued at $45,562,400. The trade was a 2.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $23.42, for a total transaction of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 122,528 shares of company stock worth $3,061,501. 8.81% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Mizuho Markets Americas LLC lifted its holdings in shares of Bloom Energy by 8.2% during the 3rd quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company’s stock worth $4,335,000 after acquiring an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. bought a new stake in Bloom Energy during the third quarter worth about $517,000. Parametrica Management Ltd purchased a new position in shares of Bloom Energy in the 3rd quarter worth about $785,000. Edgestream Partners L.P. bought a new position in shares of Bloom Energy during the 3rd quarter valued at about $3,274,000. Finally, Penserra Capital Management LLC raised its holdings in shares of Bloom Energy by 20.7% during the 3rd quarter. Penserra Capital Management LLC now owns 165,660 shares of the company’s stock valued at $1,749,000 after buying an additional 28,416 shares in the last quarter. 77.04% of the stock is owned by institutional investors.

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.