Bloom Energy (NYSE:BE) Shares Gap Up – Time to Buy?

Bloom Energy Co. (NYSE:BE)’s share price gapped up prior to trading on Friday . The stock had previously closed at $22.39, but opened at $22.96. Bloom Energy shares last traded at $22.82, with a volume of 470,801 shares.

Analysts Set New Price Targets

Several research analysts have issued reports on BE shares. BTIG Research lifted their price target on shares of Bloom Energy from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. JPMorgan Chase & Co. lifted their price objective on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. Hsbc Global Res upgraded shares of Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. TD Cowen lifted their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the stock a “hold” rating in a research report on Friday, February 28th. Finally, Truist Financial lifted their price objective on shares of Bloom Energy from $11.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Bloom Energy currently has an average rating of “Hold” and an average price target of $24.47.

Bloom Energy Stock Performance

The company has a market cap of $5.28 billion, a P/E ratio of -41.28 and a beta of 3.30. The firm’s fifty day moving average price is $24.01 and its 200-day moving average price is $18.48. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Activity at Bloom Energy

In other news, insider Shawn Marie Soderberg sold 1,639 shares of the company’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 transaction of $38,385.38. Following the transaction, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. This represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Bloom Energy

Several large investors have recently bought and sold shares of the business. Mackenzie Financial Corp boosted its position in shares of Bloom Energy by 1.7% during the fourth quarter. Mackenzie Financial Corp now owns 63,372 shares of the company’s stock worth $1,407,000 after purchasing an additional 1,035 shares in the last quarter. DigitalBridge Group Inc. raised its holdings in shares of Bloom Energy by 5.7% during the fourth quarter. DigitalBridge Group Inc. now owns 1,418,257 shares of the company’s stock worth $31,499,000 after acquiring an additional 75,974 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Bloom Energy during the fourth quarter worth $3,834,000. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Bloom Energy during the fourth quarter worth $49,000. Finally, Castleark Management LLC acquired a new stake in Bloom Energy in the 4th quarter valued at $2,860,000. 77.04% of the stock is currently owned by institutional investors and hedge funds.

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.