Northland Capital slashes price target on Bloom Energy Corporation [BE] – find out why.

Bloom Energy Corporation [NYSE: BE] closed the trading session at $29.30 on 08/10/22. The day’s price range saw the stock hit a low of $25.10, while the highest price level was $29.58. The company report on August 9, 2022 that Idaho National Lab and Bloom Energy Produce Hydrogen at Record-Setting Efficiencies.

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Steam combined with high-temperature electrolysis paves way for large-scale hydrogen production in the nuclear industry.

Bloom Energy Corporation (NYSE: BE) today announced the initial results of its ongoing demonstration with Idaho National Laboratory (INL), the nation’s premier center for nuclear energy research and development. With nearly 500 hours of full load operation completed at the laboratory, Bloom’s high-temperature electrolyzer is producing hydrogen more efficiently than other commercially available electrolyzers, including PEM and alkaline.

The stocks have a year to date performance of 33.61 percent and weekly performance of 36.34 percent. The stock has been moved at 97.31 percent over the last six months. The stock has performed 67.52 percent around the most recent 30 days and changed 120.47 percent over the most recent 3-months.

If compared to the average trading volume of 2.70M shares, BE reached to a volume of 7742321 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Bloom Energy Corporation [BE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BE shares is $24.63 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BE stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Northland Capital have made an estimate for Bloom Energy Corporation shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 08, 2022. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Neutral. The new note on the price target was released on June 08, 2022, representing the official price target for Bloom Energy Corporation stock. Previously, the target price had yet another raise to $30, while KeyBanc Capital Markets analysts kept a Overweight rating on BE stock.

The Average True Range (ATR) for Bloom Energy Corporation is set at 1.64, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 5.06.

BE stock trade performance evaluation

Bloom Energy Corporation [BE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 36.34. With this latest performance, BE shares gained by 67.52% in over the last four-week period, additionally plugging by 97.31% over the last 6 months – not to mention a rise of 26.78% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BE stock in for the last two-week period is set at 82.53, with the RSI for the last a single of trading hit 88.61, and the three-weeks RSI is set at 76.68 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 18.48, while it was recorded at 25.24 for the last single week of trading, and 20.93 for the last 200 days.

Bloom Energy Corporation [BE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Bloom Energy Corporation [BE] shares currently have an operating margin of -12.04 and a Gross Margin at +20.06. Bloom Energy Corporation’s Net Margin is presently recorded at -16.92.

Return on Equity for this stock declined to -135.32, with Return on Assets sitting at -10.34.

Bloom Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 2.10.

Bloom Energy Corporation [BE]: Insider Ownership positions

There are presently around $3,379 million, or 78.30% of BE stock, in the hands of institutional investors. The top three institutional holders of BE stocks are: AMERIPRISE FINANCIAL INC with ownership of 21,465,560, which is approximately 4.014% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 15,892,456 shares of the stock with an approximate value of $465.65 million in BE stocks shares; and VANGUARD GROUP INC, currently with $367.63 million in BE stock with ownership of nearly 0.148% of the company’s market capitalization.

Positions in Bloom Energy Corporation stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 140 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 13,125,800 shares. Additionally, 139 investors decreased positions by around 13,118,207 shares, while 74 investors held positions by with 89,080,909 shares. The mentioned changes placed institutional holdings at 115,324,916 shares, according to the latest SEC report filing. BE stock had 44 new institutional investments in for a total of 2,095,502 shares, while 51 institutional investors sold positions of 2,797,392 shares during the same period.


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