Bloom Energy Co. (NYSE:BE - Get Free Report) gapped down prior to trading on Wednesday . The stock had previously closed at $17.02, but opened at $15.98. Bloom Energy shares last traded at $15.35, with a volume of 2,045,319 shares changing hands.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. BMO Capital Markets restated a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Bank of America dropped their price target on shares of Bloom Energy from $20.00 to $18.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. Hsbc Global Res raised shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 8th. Royal Bank of Canada reissued an "outperform" rating on shares of Bloom Energy in a research note on Tuesday, April 1st. Finally, Mizuho started coverage on shares of Bloom Energy in a research report on Tuesday, March 18th. They set a "neutral" rating and a $28.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $24.29.
Check Out Our Latest Analysis on Bloom Energy
Bloom Energy Price Performance
The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of -31.48 and a beta of 3.27. The stock's 50-day simple moving average is $22.56 and its two-hundred day simple moving average is $20.37.
Insider Buying and Selling at Bloom Energy
In related news, insider Satish Chitoori sold 1,020 shares of Bloom Energy stock in a transaction on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. This trade represents a 0.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the completion of the transaction, the insider now owns 171,040 shares of the company's stock, valued at $4,005,756.80. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. 3.50% of the stock is owned by company insiders.
Institutional Investors Weigh In On Bloom Energy
A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new position in Bloom Energy in the fourth quarter valued at approximately $93,951,000. Fuller & Thaler Asset Management Inc. acquired a new position in Bloom Energy in the fourth quarter valued at $61,968,000. Elemental Capital Partners LLC purchased a new stake in shares of Bloom Energy in the fourth quarter valued at about $33,612,000. Trivest Advisors Ltd acquired a new stake in shares of Bloom Energy during the fourth quarter worth about $30,539,000. Finally, Voloridge Investment Management LLC grew its holdings in shares of Bloom Energy by 323.6% during the fourth quarter. Voloridge Investment Management LLC now owns 1,440,428 shares of the company's stock worth $31,992,000 after buying an additional 1,100,352 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.
About Bloom Energy
(
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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.
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