Bloom Energy (NYSE:BE) Shares Gap Up to $10.82

Shares of Bloom Energy Co. (NYSE:BE) gapped up before the market opened on Wednesday . The stock had previously closed at $10.82, but opened at $11.19. Bloom Energy shares last traded at $11.32, with a volume of 698,028 shares trading hands.

Analyst Upgrades and Downgrades

BE has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their price objective on shares of Bloom Energy from $12.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, May 20th. TD Cowen lifted their price target on Bloom Energy from $10.00 to $13.00 and gave the company a “hold” rating in a report on Friday, May 10th. Evercore ISI reduced their price objective on Bloom Energy from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Friday, May 10th. BTIG Research lifted their target price on Bloom Energy from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Thursday, June 6th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $22.00 price target on shares of Bloom Energy in a research report on Monday, March 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.69.

Bloom Energy Stock Performance

The company has a debt-to-equity ratio of 2.56, a quick ratio of 2.97 and a current ratio of 4.45. The company has a market cap of $2.69 billion, a P/E ratio of -8.78 and a beta of 2.80. The firm has a 50 day moving average price of $13.51 and a 200-day moving average price of $12.12.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.09). Bloom Energy had a negative net margin of 22.27% and a negative return on equity of 19.32%. The company had revenue of $235.30 million for the quarter, compared to analyst estimates of $254.06 million. On average, research analysts predict that Bloom Energy Co. will post -0.26 EPS for the current year.

Insiders Place Their Bets

In other news, Director Eddy Zervigon sold 28,150 shares of Bloom Energy stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $12.86, for a total value of $362,009.00. Following the transaction, the director now directly owns 111,161 shares in the company, valued at $1,429,530.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Eddy Zervigon sold 28,150 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $12.86, for a total value of $362,009.00. Following the sale, the director now owns 111,161 shares in the company, valued at $1,429,530.46. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Shawn Marie Soderberg sold 8,963 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $9.86, for a total transaction of $88,375.18. Following the transaction, the insider now owns 168,003 shares in the company, valued at approximately $1,656,509.58. The disclosure for this sale can be found here. Insiders sold a total of 78,385 shares of company stock valued at $943,038 in the last quarter. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Bloom Energy by 1.6% during the fourth quarter. Vanguard Group Inc. now owns 19,528,801 shares of the company’s stock valued at $289,026,000 after purchasing an additional 307,627 shares in the last quarter. Deutsche Bank AG boosted its stake in Bloom Energy by 6.2% in the 3rd quarter. Deutsche Bank AG now owns 971,194 shares of the company’s stock valued at $12,878,000 after buying an additional 57,090 shares in the last quarter. Electron Capital Partners LLC bought a new stake in Bloom Energy in the fourth quarter valued at $27,796,000. Norges Bank acquired a new position in Bloom Energy during the fourth quarter worth $82,678,000. Finally, KBC Group NV lifted its holdings in shares of Bloom Energy by 26.1% during the fourth quarter. KBC Group NV now owns 586,242 shares of the company’s stock valued at $8,676,000 after acquiring an additional 121,287 shares during the period. 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.