Bloom Energy (NYSE:BE) Shares Gap Up to $6.63

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Bloom Energy Corp (NYSE:BE)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $6.49, but opened at $6.63. Bloom Energy shares last traded at $6.47, with a volume of 78,339 shares.

Several equities analysts have commented on BE shares. Bank of America dropped their target price on shares of Bloom Energy from $6.00 to $4.00 and set an “underperform” rating on the stock in a research report on Tuesday, September 3rd. KeyCorp reissued an “overweight” rating and set a $5.00 target price on shares of Bloom Energy in a research report on Monday, October 14th. Morgan Stanley reaffirmed a “buy” rating on shares of Bloom Energy in a report on Wednesday, September 18th. Zacks Investment Research raised shares of Bloom Energy from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Thursday, November 14th. Finally, ValuEngine raised shares of Bloom Energy from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.01.

The company has a current ratio of 1.67, a quick ratio of 1.19 and a debt-to-equity ratio of 10.34. The company has a market cap of $759.70 million, a P/E ratio of -2.63 and a beta of 3.22. The business’s fifty day moving average is $3.71 and its 200 day moving average is $7.92.

In related news, COO Susan Seilheimer Brennan sold 55,486 shares of Bloom Energy stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $3.41, for a total value of $189,207.26. Also, EVP Swaminathan Venkataraman sold 86,324 shares of Bloom Energy stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $3.41, for a total transaction of $294,364.84. Insiders sold a total of 151,638 shares of company stock worth $514,721 in the last ninety days. 36.45% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Bloom Energy by 160.2% in the 2nd quarter. Vanguard Group Inc. now owns 3,839,447 shares of the company’s stock valued at $47,110,000 after buying an additional 2,364,131 shares in the last quarter. Allianz Asset Management GmbH grew its stake in Bloom Energy by 18.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 3,183,766 shares of the company’s stock valued at $39,065,000 after buying an additional 504,302 shares in the last quarter. BlackRock Inc. grew its stake in Bloom Energy by 721.2% in the 2nd quarter. BlackRock Inc. now owns 3,047,269 shares of the company’s stock valued at $37,390,000 after buying an additional 2,676,215 shares in the last quarter. Eagle Asset Management Inc. grew its stake in Bloom Energy by 5.4% in the 2nd quarter. Eagle Asset Management Inc. now owns 2,216,824 shares of the company’s stock valued at $27,200,000 after buying an additional 114,020 shares in the last quarter. Finally, Handelsbanken Fonder AB grew its stake in Bloom Energy by 121.5% in the 3rd quarter. Handelsbanken Fonder AB now owns 1,317,631 shares of the company’s stock valued at $4,282,000 after buying an additional 722,654 shares in the last quarter. Institutional investors and hedge funds own 36.91% of the company’s stock.

Bloom Energy Company Profile (NYSE:BE)

Bloom Energy Corporation designs, manufactures, and sells solid-oxide fuel cell systems for on-site power generation. The company offers Bloom Energy Server, a stationary power generation platform that converts standard low-pressure natural gas or biogas into electricity through an electrochemical process without combustion.

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