Bloom Energy Corporation [BE] Stock trading around $16.53 per share: What’s Next?

Bloom Energy Corporation [NYSE: BE] slipped around -0.63 points on Wednesday, while shares priced at $16.53 at the close of the session, down -3.67%. The company report on October 13, 2022 that Bloom Energy to Announce Third Quarter 2022 Financial Results on November 3, 2022.

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Bloom Energy (NYSE: BE) today announced it will release its third quarter 2022 financial results on November 3, 2022 after market close. Bloom Energy’s management will host a conference call at 2:00 p.m. Pacific Time (PT) / 5:00 p.m. Eastern Time (ET) on the same day to discuss these results.

Bloom Energy Corporation stock is now -24.62% down from its year-to-date (YTD) trading value. BE Stock saw the intraday high of $16.99 and lowest of $16.18 per share. The company’s 52-week high price is 37.01, which means current price is +44.12% above from all time high which was touched on 08/12/22.

Compared to the average trading volume of 3.24M shares, BE reached a trading volume of 4532217 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 $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.

Jefferies have made an estimate for Bloom Energy Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 19, 2022. While these analysts kept the previous recommendation, BofA Securities raised their target price to Buy. The new note on the price target was released on August 25, 2022, representing the official price target for Bloom Energy Corporation stock. Previously, the target price had yet another raise to $28, while Northland Capital analysts kept a Outperform rating on BE stock.

The Average True Range (ATR) for Bloom Energy Corporation is set at 1.29, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 3.08.

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 -0.78. With this latest performance, BE shares dropped by -30.84% in over the last four-week period, additionally sinking by -26.40% over the last 6 months – not to mention a drop of -23.72% 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 31.73, with the RSI for the last a single of trading hit 29.35, and the three-weeks RSI is set at 35.31 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 23.31, while it was recorded at 16.77 for the last single week of trading, and 20.01 for the last 200 days.

Bloom Energy Corporation [BE]: Deeper insight into the 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.

Insider trade positions for Bloom Energy Corporation [BE]

There are presently around $1,945 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 20,978,921, which is approximately -2.267% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 19,226,261 shares of the stock with an approximate value of $317.81 million in BE stocks shares; and VANGUARD GROUP INC, currently with $238.32 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 November and at the time of the November reporting period, where 144 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 15,129,539 shares. Additionally, 127 investors decreased positions by around 10,721,513 shares, while 64 investors held positions by with 91,804,585 shares. The mentioned changes placed institutional holdings at 117,655,637 shares, according to the latest SEC report filing. BE stock had 41 new institutional investments in for a total of 2,312,697 shares, while 45 institutional investors sold positions of 2,644,579 shares during the same period.


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