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

Bloom Energy Corporation [NYSE: BE] price plunged by -0.58 percent to reach at -$0.1. The company report on November 3, 2022 that Bloom Energy Announces Third Quarter 2022 Financial Results.

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Bloom Energy Corporation (NYSE: BE) today announced financial results for its third quarter ended September 30, 2022.

A sum of 2804558 shares traded at recent session while its average daily volume was at 3.35M shares. Bloom Energy Corporation shares reached a high of $17.725 and dropped to a low of $17.03 until finishing in the latest session at $17.23.

The one-year BE stock forecast points to a potential upside of 40.05. The average equity rating for BE stock is currently 2.20, 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 $28.74 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.

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 1.11, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 3.11.

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 -7.17. With this latest performance, BE shares dropped by -16.16% in over the last four-week period, additionally sinking by -9.17% over the last 6 months – not to mention a drop of -46.11% 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 39.49, with the RSI for the last a single of trading hit 39.29, and the three-weeks RSI is set at 40.41 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 21.21, while it was recorded at 18.01 for the last single week of trading, and 19.94 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 $2,051 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 9.40% of the total institutional ownership; BLACKROCK INC., holding 19,226,261 shares of the stock with an approximate value of $331.27 million in BE stocks shares; and VANGUARD GROUP INC, currently with $248.41 million in BE stock with ownership of nearly 14.906% of the company’s market capitalization.

143 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 16,805,840 shares. Additionally, 137 investors decreased positions by around 11,900,582 shares, while 61 investors held positions by with 90,342,167 shares. The mentioned changes placed institutional holdings at 119,048,589 shares, according to the latest SEC report filing. BE stock had 43 new institutional investments in for a total of 2,282,795 shares, while 45 institutional investors sold positions of 3,209,954 shares during the same period.


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