Bloom Energy Corporation [NYSE: BE] loss -11.73% or -3.56 points to close at $26.80 with a heavy trading volume of 10740217 shares. The company report on August 16, 2022 that Bloom Energy Corporation Announces Pricing of $338.0 Million Public Offering of Class A Common Stock.
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Bloom Energy Corporation (NYSE: BE) today announced the pricing of its underwritten public offering of 13,000,000 shares of Class A common stock at a public offering price of $26.00 per share, before underwriting discounts and commissions. All of the shares of common stock are being offered by Bloom Energy. In addition, Bloom Energy has granted the underwriters a 30-day option to purchase up to an additional 1,950,000 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Bloom Energy, are expected to be $338.0 million, excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on August 19, 2022, subject to customary closing conditions.
J.P. Morgan, Morgan Stanley and BofA Securities are acting as joint book-running managers for the offering. Baird, Cowen, Credit Suisse, KeyBanc Capital Markets, Oppenheimer & Co., Wells Fargo Securities, Raymond James and Tuohy Brothers are acting as co-managers for the offering.
It opened the trading session at $28.60, the shares rose to $28.78 and dropped to $26.3802, the range by which the price of stock traded the whole day. The daily chart for BE points out that the company has recorded 53.06% gains over the past six months. However, it is still -133.65% lower than its most recent low trading price.
If we look at the average trading volume of 2.72M shares, BE reached to a volume of 10740217 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $28.67 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 1.83, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 4.63.
Trading performance analysis for BE stock
Bloom Energy Corporation [BE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.24. With this latest performance, BE shares gained by 59.43% in over the last four-week period, additionally plugging by 53.06% over the last 6 months – not to mention a rise of 32.28% 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 64.02, with the RSI for the last a single of trading hit 61.01, and the three-weeks RSI is set at 63.80 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 19.39, while it was recorded at 29.22 for the last single week of trading, and 20.95 for the last 200 days.
Bloom Energy Corporation [BE]: A deeper dive into fundamental analysis
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 1.20 and a Current Ratio set at 1.70.
An analysis of insider ownership at Bloom Energy Corporation [BE]
There are presently around $3,136 million, or 78.10% of BE stock, in the hands of institutional investors. The top three institutional holders of BE stocks are: AMERIPRISE FINANCIAL INC with ownership of 20,978,921, which is approximately -2.267% of the company’s market cap and around 1.30% of the total institutional ownership; BLACKROCK INC., holding 19,226,261 shares of the stock with an approximate value of $515.26 million in BE stocks shares; and VANGUARD GROUP INC, currently with $386.38 million in BE stock with ownership of nearly 14.906% 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 144 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 14,575,892 shares. Additionally, 129 investors decreased positions by around 10,738,806 shares, while 68 investors held positions by with 91,698,471 shares. The mentioned changes placed institutional holdings at 117,013,169 shares, according to the latest SEC report filing. BE stock had 38 new institutional investments in for a total of 2,311,659 shares, while 50 institutional investors sold positions of 2,747,747 shares during the same period.