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

Bloom Energy Co. (NYSE:BE) gapped up prior to trading 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.

Analyst Ratings Changes

A number of research firms have recently issued reports on BE. Robert W. Baird increased their price target on Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. BMO Capital Markets upped their target price on Bloom Energy from $12.00 to $19.50 and gave the company a “market perform” rating in a report on Friday, November 15th. UBS Group increased their target price on Bloom Energy from $21.00 to $33.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Roth Capital upgraded Bloom Energy to a “hold” rating in a research note on Tuesday, December 10th. Finally, Bank of America raised their price target on shares of Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a report on Monday, December 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Bloom Energy has a consensus rating of “Hold” and an average target price of $22.97.

Bloom Energy Stock Up 2.1 %

The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09. The business’s fifty day moving average price is $23.83 and its two-hundred day moving average price is $15.79. The firm has a market cap of $6.01 billion, a P/E ratio of -46.93 and a beta of 3.06.

Insiders Place Their Bets

In other news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the transaction, the insider now owns 168,561 shares of the company’s stock, valued at approximately $4,139,858.16. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,822,496 shares in the company, valued at $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 122,528 shares of company stock worth $3,061,501. 3.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Bloom Energy

A number of large investors have recently modified their holdings of BE. Millburn Ridgefield Corp boosted its position in Bloom Energy by 29.2% during the third quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company’s stock worth $25,000 after purchasing an additional 528 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Bloom Energy during the third quarter worth approximately $34,000. Avior Wealth Management LLC acquired a new position in shares of Bloom Energy in the fourth quarter valued at approximately $40,000. GAMMA Investing LLC increased its stake in shares of Bloom Energy by 26.8% during the fourth quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock worth $60,000 after purchasing an additional 569 shares during the period. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Bloom Energy in the 3rd quarter valued at $74,000. 77.04% of the stock is currently 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.