Bloom Energy (NYSE:BE) Shares Gap Up - Should You Buy?

Bloom Energy Co. (NYSE:BE - Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $25.75, but opened at $26.95. Bloom Energy shares last traded at $26.43, with a volume of 1,259,455 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Hsbc Global Res raised Bloom Energy to a "hold" rating in a report on Wednesday, November 20th. UBS Group upped their target price on Bloom Energy from $21.00 to $33.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Jefferies Financial Group lifted their price target on Bloom Energy from $12.00 to $22.00 and gave the stock a "hold" rating in a research note on Friday, November 22nd. Bank of America upped their price objective on shares of Bloom Energy from $7.00 to $20.00 and gave the company an "underperform" rating in a research note on Monday, December 9th. Finally, BMO Capital Markets lifted their target price on shares of Bloom Energy from $12.00 to $19.50 and gave the stock 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 issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $22.97.

Bloom Energy Price Performance

The stock's fifty day moving average is $24.31 and its 200-day moving average is $15.96. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. The stock has a market capitalization of $5.83 billion, a P/E ratio of -45.52 and a beta of 3.06.

Insider Buying and Selling

In other news, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $23.42, for a total value 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. The trade was a 0.95 % 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, CEO Kr Sridhar sold 46,697 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total value of $1,167,425.00. Following the sale, the chief executive officer now owns 1,822,496 shares of the company's stock, valued at approximately $45,562,400. The trade was a 2.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,528 shares of company stock worth $3,061,501. 3.50% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Bloom Energy

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

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.