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

Bloom Energy Corporation (NYSE:BE)’s stock price gapped down before the market opened on Friday . The stock had previously closed at $103.55, but opened at $95.88. Bloom Energy shares last traded at $114.3170, with a volume of 11,442,768 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on BE shares. Roth Capital reaffirmed a “neutral” rating and set a $103.00 price objective on shares of Bloom Energy in a research note on Wednesday, October 29th. Jefferies Financial Group restated an “underperform” rating and issued a $53.00 target price on shares of Bloom Energy in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Bloom Energy in a report on Thursday, October 30th. Susquehanna increased their price objective on shares of Bloom Energy to $157.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Finally, HSBC upgraded Bloom Energy from a “hold” rating to a “buy” rating and set a $150.00 target price for the company in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $95.65.

Bloom Energy Stock Performance

The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The company has a market capitalization of $27.03 billion, a PE ratio of 704.00, a PEG ratio of 71.41 and a beta of 3.43. The firm’s 50-day simple moving average is $97.32 and its 200-day simple moving average is $52.47.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.07. Bloom Energy had a net margin of 0.84% and a return on equity of 8.74%. The firm had revenue of $508.69 million during the quarter, compared to the consensus estimate of $425.18 million. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. The company’s revenue was up 57.1% on a year-over-year basis. On average, research analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 60,000 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $48.97, for a total transaction of $2,938,200.00. Following the transaction, the chief executive officer directly owned 2,324,613 shares in the company, valued at $113,836,298.61. This represents a 2.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Maciej Kurzymski sold 13,105 shares of the business’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $144.09, for a total transaction of $1,888,299.45. Following the completion of the sale, the insider owned 93,269 shares of the company’s stock, valued at approximately $13,439,130.21. This represents a 12.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 332,065 shares of company stock worth $26,675,662. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. lifted its position in Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company’s stock valued at $1,704,000 after acquiring an additional 26,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Bloom Energy by 634.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company’s stock worth $11,763,000 after purchasing an additional 516,833 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of Bloom Energy during the 2nd quarter valued at $108,000. Mizuho Markets Americas LLC lifted its holdings in shares of Bloom Energy by 29.9% during the 2nd quarter. Mizuho Markets Americas LLC now owns 395,490 shares of the company’s stock valued at $9,460,000 after purchasing an additional 90,980 shares during the last quarter. Finally, Comerica Bank boosted its position in shares of Bloom Energy by 5.8% in the 1st quarter. Comerica Bank now owns 88,554 shares of the company’s stock worth $1,741,000 after purchasing an additional 4,885 shares in the last quarter. 77.04% of the stock is owned by hedge funds and other 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.