Bloom Energy (NYSE:BE) Shares Gap Down – Here’s Why

Bloom Energy Corporation (NYSE:BE) gapped down before the market opened on Monday . The stock had previously closed at $244.61, but opened at $231.38. Bloom Energy shares last traded at $238.1180, with a volume of 1,949,869 shares trading hands.

Wall Street Analysts Forecast Growth

BE has been the subject of several research reports. UBS Group increased their price target on Bloom Energy from $322.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Mizuho set a $285.00 price objective on Bloom Energy in a research note on Friday, May 1st. Evercore reaffirmed an “outperform” rating and set a $350.00 price objective on shares of Bloom Energy in a report on Wednesday, July 1st. Susquehanna increased their target price on shares of Bloom Energy from $293.00 to $298.00 and gave the stock a “positive” rating in a research report on Friday. Finally, Sanford C. Bernstein assumed coverage on shares of Bloom Energy in a research note on Tuesday, June 16th. They issued a “market perform” rating and a $276.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $242.14.

Bloom Energy Trading Down 2.2%

The firm has a 50-day simple moving average of $283.35 and a 200-day simple moving average of $198.41. The company has a quick ratio of 4.10, a current ratio of 5.03 and a debt-to-equity ratio of 2.90. The stock has a market cap of $68.05 billion, a PE ratio of -4,788.18 and a beta of 3.73.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Tuesday, April 28th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.32. Bloom Energy had a return on equity of 21.05% and a net margin of 0.25%.The company had revenue of $751.05 million during the quarter, compared to analysts’ expectations of $539.94 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s quarterly revenue was up 130.4% compared to the same quarter last year. Bloom Energy has set its FY 2026 guidance at 1.850-2.250 EPS. Equities analysts forecast that Bloom Energy Corporation will post 1.4 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director John T. Chambers sold 55,000 shares of the stock in a transaction dated Thursday, May 28th. The shares were sold at an average price of $297.69, for a total value of $16,372,950.00. Following the sale, the director directly owned 238,333 shares of the company’s stock, valued at approximately $70,949,350.77. This represents a 18.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Satish Chitoori sold 20,000 shares of the stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $204.23, for a total transaction of $4,084,600.00. Following the completion of the sale, the insider directly owned 212,365 shares in the company, valued at approximately $43,371,303.95. The trade was a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 228,617 shares of company stock worth $59,843,659 over the last quarter. Insiders own 3.00% of the company’s stock.

Institutional Trading of Bloom Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Brooklands Fund Management Ltd bought a new position in Bloom Energy in the 4th quarter valued at $347,560,000. Norges Bank bought a new position in shares of Bloom Energy in the fourth quarter worth $239,683,000. Jennison Associates LLC increased its holdings in shares of Bloom Energy by 20,074.4% in the first quarter. Jennison Associates LLC now owns 2,687,029 shares of the company’s stock worth $364,066,000 after purchasing an additional 2,673,710 shares during the period. Amundi raised its position in shares of Bloom Energy by 390.7% in the fourth quarter. Amundi now owns 3,154,197 shares of the company’s stock worth $274,068,000 after buying an additional 2,511,426 shares in the last quarter. Finally, Man Group plc raised its position in shares of Bloom Energy by 177.4% in the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after buying an additional 1,530,167 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

About Bloom Energy

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.