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

Bloom Energy Corporation (NYSE:BE) saw its shares gap up prior to trading on Friday. The stock had previously closed at $22.39 but opened at $22.96, indicating a positive start to the day. The most recent trade of Bloom Energy shares was at $22.82, with a volume of 470,801 shares exchanged.

Analysts Set New Price Targets

Many research firms have recently provided insights about Bloom Energy. Morgan Stanley raised their price target for the stock from $20.00 to $28.00 and assigned it an "overweight" rating in a report dated November 18. Meanwhile, JPMorgan Chase & Co. increased its price objective from $14.00 to $16.00, providing a "neutral" rating as of January 23. Additionally, Robert W. Baird lifted their target price from $15.00 to $32.00, giving Bloom Energy an "outperform" rating in a note from December 12. Roth Capital also upgraded the stock to a "hold" on December 10, and HSBC Global Research followed suit with a "hold" rating on November 20.

Overall, one analyst has a sell rating, while ten have given it a hold rating, eight assigned a buy rating, and one has issued a strong buy rating. According to MarketBeat.com data, Bloom Energy currently holds a consensus rating of "Hold" with an average target price of $24.47.

Bloom Energy Stock Performance

The stock has a market capitalization of $5.04 billion and a price-to-earnings ratio of -39.39. Its beta stands at 3.30, which indicates high volatility compared to the overall market. The fifty-day moving average is $24.00, while the two-hundred-day moving average is $18.36. Regarding liquidity, the company has a debt-to-equity ratio of 3.09 and a current ratio of 3.36, with a quick ratio of 2.33.

Insider Activity

In recent transactions, insider Shawn Marie Soderberg sold 1,639 shares of Bloom Energy on January 16, fetching an average price of $23.42 for a total value of $38,385.38. Following this sale, Soderberg's direct ownership now stands at 171,040 shares, valued at approximately $4,005,756.80, reflecting a 0.95% decrease in their holdings. This sale was disclosed in a legal filing with the SEC, which is accessible to the public. Notably, insiders currently hold about 3.50% of the company's shares.

Hedge Funds Weigh In On Bloom Energy

Several large investors have been making moves in Bloom Energy. Vanguard Group Inc. enhanced its stake by 1.9% in the fourth quarter, now owning 19,234,329 shares valued at roughly $427,194,000 after acquiring an additional 356,317 shares last quarter. Norges Bank also established a new stake valued at $93,951,000 in Bloom Energy during the same period. Furthermore, Fuller & Thaler Asset Management purchased a new investment worth $61,968,000. JAT Capital Management raised its stake in Bloom Energy by 50% during the third quarter, now holding 2,198,974 shares valued at $23,221,000 after acquiring 733,363 additional shares. Last but not least, Legal & General Group Plc increased its holdings by 7.3% during the fourth quarter, holding 2,133,318 shares worth about $47,381,000 after an additional purchase of 144,616 shares. Institutional investors and hedge funds collectively own approximately 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 both the United States and international markets. The company offers the Bloom Energy Server, which uses solid oxide technology to convert fuels such as natural gas, biogas, hydrogen, or blends of these fuels into electricity through an electrochemical process without combustion.

Should You Invest $1,000 in Bloom Energy Right Now?

Before considering an investment in Bloom Energy, it's essential to do thorough research. While Bloom Energy has a current hold rating among analysts, some top-rated analysts are recommending other stocks that they believe present better buying opportunities. Thus, if you're weighing your investment options, it might be worth exploring those alternatives.

BloomEnergy, Stocks, Investment