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 traded.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. BMO Capital Markets boosted their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the stock a “market perform” rating in a report on Friday, November 15th. Bank of America upped their price target on Bloom Energy from $7.00 to $20.00 and gave the company an “underperform” rating in a report on Monday, December 9th. Piper Sandler lifted their price objective on Bloom Energy from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Roth Mkm started coverage on Bloom Energy in a research note on Wednesday, December 11th. They issued a “neutral” rating and a $25.00 target price for the company. Finally, Marathon Capitl raised Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $23.08.

Bloom Energy Stock Up 8.5 %

The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The company has a 50-day simple moving average of $24.31 and a 200-day simple moving average of $15.96.

Insider Activity at Bloom Energy

In related news, 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 value of $38,385.38. Following the completion of the sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kr Sridhar sold 46,697 shares of the company’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $25.00, for a total value of $1,167,425.00. Following the transaction, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. This represents a 2.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 122,528 shares of company stock valued at $3,061,501 over the last ninety days. 8.81% of the stock is owned by insiders.

Institutional Investors Weigh In On Bloom Energy

A number of institutional investors and hedge funds have recently modified their holdings of BE. Millburn Ridgefield Corp boosted its position in shares of 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 in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Bloom Energy by 26.8% during the 4th quarter. GAMMA Investing LLC now owns 2,690 shares of the company’s stock valued at $60,000 after purchasing an additional 569 shares in the last quarter. Xponance Inc. increased its stake in Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock worth $154,000 after purchasing an additional 903 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Bloom Energy by 2.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 47,400 shares of the company’s stock worth $1,053,000 after buying an additional 1,000 shares during the period. Finally, Kovitz Investment Group Partners LLC lifted its stake in Bloom Energy by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 36,353 shares of the company’s stock valued at $374,000 after buying an additional 1,349 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.