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

Shares of Bloom Energy Co. (NYSE:BE - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $21.99, but opened at $21.42. Bloom Energy shares last traded at $21.66, with a volume of 542,298 shares trading hands.

Analyst Upgrades and Downgrades

BE has been the subject of a number of research reports. Morgan Stanley increased their target price on shares of Bloom Energy from $28.00 to $35.00 and gave the company an "overweight" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. increased their price objective on Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research note on Thursday, January 23rd. Mizuho initiated coverage on Bloom Energy in a research report on Tuesday, March 18th. They set a "neutral" rating and a $28.00 price target for the company. Roth Mkm began coverage on Bloom Energy in a research report on Wednesday, December 11th. They issued a "neutral" rating and a $25.00 target price for the company. Finally, Roth Capital raised shares of Bloom Energy to a "hold" rating in a research report on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $25.06.

Bloom Energy Stock Performance

The firm has a market cap of $4.80 billion, a PE ratio of -37.21 and a beta of 3.30. The stock's 50 day moving average price is $23.92 and its 200 day moving average price is $19.90. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

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Insiders Place Their Bets

In other Bloom Energy news, insider Satish Chitoori sold 1,020 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $25.09, for a total value of $25,591.80. Following the sale, the insider now directly owns 178,656 shares in the company, valued at approximately $4,482,479.04. The trade was a 0.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,639 shares of the firm's stock in a transaction dated 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 owns 171,040 shares of the company's stock, valued at approximately $4,005,756.80. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Millburn Ridgefield Corp boosted its position in Bloom Energy by 29.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 2,339 shares of the company's stock worth $25,000 after acquiring an additional 528 shares during the period. Mainstream Capital Management LLC acquired a new position in Bloom Energy in the 4th quarter worth about $28,000. Smartleaf Asset Management LLC lifted its stake in Bloom Energy by 291.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock valued at $28,000 after acquiring an additional 934 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock worth $33,000 after purchasing an additional 812 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Bloom Energy during the 3rd quarter valued at about $34,000. 77.04% of the stock is owned by hedge funds and other 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.