Bloom Energy (NYSE:BE) Shares Gap Down - Should You Sell?

Shares of Bloom Energy Co. (NYSE:BE - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $29.81, but opened at $24.63. Bloom Energy shares last traded at $23.17, with a volume of 5,163,929 shares changing hands.

Analyst Ratings Changes

BE has been the subject of several analyst reports. Robert W. Baird upped their price objective on Bloom Energy from $15.00 to $32.00 and gave the stock an "outperform" rating in a research note on Thursday, December 12th. Royal Bank of Canada upped their price target on Bloom Energy from $15.00 to $28.00 and gave the stock an "outperform" rating in a research report on Monday, November 18th. Truist Financial lifted their price objective on Bloom Energy from $11.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased their target price on shares of Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Roth Capital raised shares of Bloom Energy to a "hold" rating in a report on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $23.24.

Bloom Energy Trading Down 25.2 %

The firm has a market capitalization of $5.10 billion, a P/E ratio of -39.80 and a beta of 3.06. The stock has a 50-day simple moving average of $24.76 and a two-hundred day simple moving average of $16.27. 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 Buying and Selling

In other news, CEO Kr Sridhar sold 72,903 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $25.02, for a total value of $1,824,033.06. Following the sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This trade represents a 3.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,289 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $24.56, for a total transaction of $31,657.84. Following the sale, the insider now directly owns 168,561 shares of the company's stock, valued at $4,139,858.16. The trade was a 0.76 % 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 90 days. Corporate insiders own 8.81% of the company's stock.

Institutional Trading of Bloom Energy

Several large investors have recently bought and sold shares of BE. Mizuho Markets Americas LLC boosted its position in Bloom Energy by 8.2% in the third quarter. Mizuho Markets Americas LLC now owns 410,555 shares of the company's stock valued at $4,335,000 after buying an additional 31,189 shares during the last quarter. Duff & Phelps Investment Management Co. purchased a new stake in shares of Bloom Energy in the 3rd quarter valued at $517,000. Parametrica Management Ltd purchased a new position in shares of Bloom Energy during the third quarter worth $785,000. Edgestream Partners L.P. acquired a new position in Bloom Energy during the third quarter valued at $3,274,000. Finally, Penserra Capital Management LLC boosted its holdings in Bloom Energy by 20.7% in the third quarter. Penserra Capital Management LLC now owns 165,660 shares of the company's stock valued at $1,749,000 after purchasing an additional 28,416 shares during the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

About Bloom Energy

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.