Bloom Energy Co. (NYSE:BE - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $23.58, but opened at $22.00. Bloom Energy shares last traded at $23.09, with a volume of 723,745 shares trading hands.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Bloom Energy from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, January 23rd. Marathon Capitl upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a research note on Monday, November 11th. Jefferies Financial Group raised their target price on shares of Bloom Energy from $12.00 to $22.00 and gave the company a "hold" rating in a research note on Friday, November 22nd. Morgan Stanley upped their price target on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an "overweight" rating in a research report on Monday, November 18th. Finally, BMO Capital Markets lifted their price objective on shares of Bloom Energy from $12.00 to $19.50 and gave the company a "market perform" rating in a research report on Friday, November 15th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Bloom Energy currently has a consensus rating of "Hold" and a consensus price target of $23.13.
View Our Latest Stock Report on BE
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's 50 day moving average is $24.43 and its 200 day moving average is $16.67. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of -44.00 and a beta of 3.06.
Insider Transactions at Bloom Energy
In other news, insider Shawn Marie Soderberg sold 1,639 shares of the business'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 value of $38,385.38. Following the completion of the transaction, the insider now directly owns 171,040 shares in the company, valued at approximately $4,005,756.80. The trade was a 0.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kr Sridhar sold 72,903 shares of the firm's stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 1,869,593 shares in the company, valued at approximately $46,777,216.86. This represents a 3.75 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 122,528 shares of company stock valued at $3,061,501. 3.50% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Bloom Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Elemental Capital Partners LLC bought a new position in Bloom Energy in the 4th quarter valued at approximately $33,612,000. Raymond James Financial Inc. bought a new position in shares of Bloom Energy during the fourth quarter valued at $19,629,000. JAT Capital Mgmt LP lifted its holdings in shares of Bloom Energy by 50.0% during the third quarter. JAT Capital Mgmt LP now owns 2,198,974 shares of the company's stock worth $23,221,000 after purchasing an additional 733,363 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Bloom Energy by 68.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,026,488 shares of the company's stock worth $22,798,000 after purchasing an additional 417,120 shares during the last quarter. Finally, Erste Asset Management GmbH acquired a new stake in Bloom Energy in the third quarter valued at $3,762,000. Institutional investors own 77.04% of the company's stock.
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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