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

Bloom Energy Corporation (NYSE:BE) shares gapped down before the market opened on Monday . The stock had previously closed at $134.07, but opened at $129.70. Bloom Energy shares last traded at $131.86, with a volume of 2,246,867 shares traded.

Wall Street Analyst Weigh In

BE has been the subject of several analyst reports. Zacks Research cut shares of Bloom Energy from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 3rd. Wedbush set a $39.00 price target on shares of Bloom Energy in a research report on Tuesday, November 25th. Roth Capital reiterated a “neutral” rating and issued a $103.00 price target on shares of Bloom Energy in a research note on Wednesday, October 29th. BMO Capital Markets set a $136.00 price objective on Bloom Energy in a research note on Wednesday, October 29th. Finally, Wells Fargo & Company upped their target price on Bloom Energy to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $96.00.

Bloom Energy Price Performance

The company has a debt-to-equity ratio of 1.98, a quick ratio of 2.88 and a current ratio of 4.40. The company has a market cap of $32.27 billion, a price-to-earnings ratio of 676.89, a PEG ratio of 11.29 and a beta of 3.01. The business has a fifty day moving average price of $105.35 and a 200 day moving average price of $76.00.

Bloom Energy (NYSE:BE) last released its earnings results on Tuesday, October 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $519.05 million for the quarter, compared to analysts’ expectations of $425.18 million. Bloom Energy had a return on equity of 8.74% and a net margin of 0.84%.The business’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.01) earnings per share. As a group, research analysts anticipate that Bloom Energy Corporation will post -0.23 earnings per share for the current year.

Insider Buying and Selling at Bloom Energy

In other news, insider Maciej Kurzymski sold 13,105 shares of the stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $144.09, for a total value of $1,888,299.45. Following the completion of the transaction, the insider directly owned 93,269 shares in the company, valued at approximately $13,439,130.21. This represents a 12.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jim H. Snabe sold 20,000 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $143.04, for a total value of $2,860,800.00. The SEC filing for this sale provides additional information. Insiders sold 120,410 shares of company stock worth $16,557,185 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Graticule Asia Macro Advisors LLC bought a new stake in shares of Bloom Energy in the 3rd quarter valued at about $402,494,000. Trivest Advisors Ltd lifted its stake in shares of Bloom Energy by 1,461.6% in the third quarter. Trivest Advisors Ltd now owns 3,420,000 shares of the company’s stock worth $289,229,000 after acquiring an additional 3,201,000 shares during the period. Norges Bank bought a new stake in Bloom Energy in the second quarter valued at approximately $57,821,000. Westfield Capital Management Co. LP acquired a new stake in Bloom Energy during the 3rd quarter valued at approximately $141,679,000. Finally, Man Group plc raised its holdings in Bloom Energy by 177.4% during the 2nd quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after purchasing an additional 1,530,167 shares during the last quarter. 77.04% of the stock is owned by institutional investors.

Bloom Energy Company Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.