Wall Street Analyst Initiated Bloom Energy Corporation [BE]. What else is Wall St. saying

Bloom Energy Corporation [NYSE: BE] slipped around -0.6 points on Tuesday, while shares priced at $24.10 at the close of the session, down -2.43%. The company report on August 19, 2022 that Bloom Energy Corporation Announces Closing of Public Offering of Class A Common Stock and Full Exercise of Underwriters’ Option to Purchase Additional Shares.

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Bloom Energy Corporation (NYSE: BE) today announced the closing of an underwritten public offering of 14,950,000 shares of Class A common stock at a public offering price of $26.00 per share, before underwriting discounts and commissions. The shares of Class A common stock issued and sold in the offering include 1,950,000 shares issued upon the exercise in full by the underwriters of their option to purchase additional shares of Class A 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, were $388.7 million. All shares in the offering were offered by Bloom Energy.

J.P. Morgan, Morgan Stanley and BofA Securities acted 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 acted as co-managers for the offering.

Bloom Energy Corporation stock is now 9.90% up from its year-to-date (YTD) trading value. BE Stock saw the intraday high of $25.21 and lowest of $24.03 per share. The company’s 52-week high price is 37.01, which means current price is +110.11% above from all time high which was touched on 08/12/22.

Compared to the average trading volume of 3.16M shares, BE reached a trading volume of 3897614 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $29.83 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 1.77, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 4.52.

How has BE stock performed recently?

Bloom Energy Corporation [BE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -10.07. With this latest performance, BE shares gained by 41.27% in over the last four-week period, additionally plugging by 37.56% over the last 6 months – not to mention a rise of 15.92% 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 52.20, with the RSI for the last a single of trading hit 44.85, and the three-weeks RSI is set at 54.97 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 20.11, while it was recorded at 25.50 for the last single week of trading, and 20.79 for the last 200 days.

Bloom Energy Corporation [BE]: Deeper insight into the 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 1.20 and a Current Ratio set at 1.70.

Insider trade positions for Bloom Energy Corporation [BE]

There are presently around $2,838 million, or 78.50% 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 $463.35 million in BE stocks shares; and VANGUARD GROUP INC, currently with $347.46 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 146 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 15,148,812 shares. Additionally, 127 investors decreased positions by around 10,608,171 shares, while 67 investors held positions by with 91,992,207 shares. The mentioned changes placed institutional holdings at 117,749,190 shares, according to the latest SEC report filing. BE stock had 39 new institutional investments in for a total of 2,312,327 shares, while 48 institutional investors sold positions of 2,617,112 shares during the same period.


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