Bloom Energy Corporation [BE] Revenue clocked in at $994.00 million, up 4.24% YTD: What’s Next?

Bloom Energy Corporation [NYSE: BE] price plunged by -4.87 percent to reach at -$1.17. The company report on September 21, 2022 that Taylor Farms Taps Bloom Energy, Ameresco and Concept Clean Energy to Take California Fresh Vegetable Production Facility Off the Grid.

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North American fresh foods producer now leading in energy independence through innovative fuel cells, solar and battery deployments.

Taylor Farms, North America’s largest producer of healthy fresh foods, has partnered with Bloom Energy (NYSE: BE), Ameresco, Inc. (NYSE: AMRC) and Concept Clean Energy to install a microgrid capable of taking one of their California food processing facilities completely off the traditional energy grid. The energy leaders plan to combine six megawatts (MW) of Bloom fuel cells, 2MW of solar power from Concept Clean Energy and a 2MW/4MWh battery into a microgrid that is designed to power the entire 450,000 sq. ft. facility in San Juan Bautista, California.

A sum of 3084048 shares traded at recent session while its average daily volume was at 3.06M shares. Bloom Energy Corporation shares reached a high of $24.21 and dropped to a low of $22.325 until finishing in the latest session at $22.86.

The one-year BE stock forecast points to a potential upside of 25.05. The average equity rating for BE stock is currently 2.30, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $30.50 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 2.30. 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.

BofA Securities have made an estimate for Bloom Energy Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on August 25, 2022. While these analysts kept the previous recommendation, Northland Capital raised their target price to Outperform. The new note on the price target was released on July 08, 2022, representing the official price target for Bloom Energy Corporation stock. Previously, the target price had yet another raise to $20, while Piper Sandler analysts kept a Neutral rating on BE stock.

The Average True Range (ATR) for Bloom Energy Corporation is set at 1.57, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 4.23.

BE Stock Performance Analysis:

Bloom Energy Corporation [BE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -11.64. With this latest performance, BE shares dropped by -5.15% in over the last four-week period, additionally sinking by -4.79% over the last 6 months – not to mention a rise of 18.57% 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 40.92, with the RSI for the last a single of trading hit 33.43, and the three-weeks RSI is set at 45.67 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 23.51, while it was recorded at 24.26 for the last single week of trading, and 20.33 for the last 200 days.

Insight into Bloom Energy Corporation Fundamentals:

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.

Bloom Energy Corporation [BE] Insider Position Details

There are presently around $2,692 million, or 78.90% 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 $439.51 million in BE stocks shares; and VANGUARD GROUP INC, currently with $329.58 million in BE stock with ownership of nearly 14.906% of the company’s market capitalization.

146 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 15,148,812 shares. Additionally, 126 investors decreased positions by around 10,602,568 shares, while 68 investors held positions by with 92,003,993 shares. The mentioned changes placed institutional holdings at 117,755,373 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 47 institutional investors sold positions of 2,611,509 shares during the same period.


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