Market Analysts see Bloom Energy Corporation [BE] gaining to $29. Time to buy?

Bloom Energy Corporation [NYSE: BE] traded at a high on 11/10/22, posting a 18.57 gain after which it closed the day’ session at $21.65. The company report on November 10, 2022 that Bloom Energy, Cefla to Partner on Italian Fuel Cell Deployments.


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California clean energy company expands European footprint, boosts Italian energy independence.

Bloom Energy (NYSE:BE) has partnered with Cefla, a leading Italian engineering, procurement and construction company, for multiple megawatts (MW) of Bloom’s solid oxide fuel cells, expected to be deployed through 2025. The partnership will expand Bloom’s footprint in Italy and aid in Italian companies’ transition from traditional combustion-based sources of energy to a fuel-cell based Energy Server™ that can efficiently meet critical energy needs.

The results of the trading session contributed to over 4562009 shares changing hands. Over the past one week, the price volatility of Bloom Energy Corporation stands at 9.32% while the volatility over the past one month is 6.75%.

The market cap for BE stock reached $3.97 billion, with 178.51 million shares outstanding and 146.78 million shares in the current float. Compared to the average trading volume of 3.37M shares, BE reached a trading volume of 4562009 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 $28.11 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 1.44, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 4.00.

How has BE stock performed recently?

Bloom Energy Corporation [BE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.65. With this latest performance, BE shares gained by 29.95% in over the last four-week period, additionally plugging by 75.30% over the last 6 months – not to mention a drop of -34.45% 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 62.52, with the RSI for the last a single of trading hit 69.55, and the three-weeks RSI is set at 57.41 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 20.57, while it was recorded at 19.61 for the last single week of trading, and 20.04 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 $2,593 million, or 78.60% 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 $416.25 million in BE stocks shares; and VANGUARD GROUP INC, currently with $312.13 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 150 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 17,356,804 shares. Additionally, 135 investors decreased positions by around 10,140,607 shares, while 56 investors held positions by with 92,250,509 shares. The mentioned changes placed institutional holdings at 119,747,920 shares, according to the latest SEC report filing. BE stock had 45 new institutional investments in for a total of 2,943,493 shares, while 45 institutional investors sold positions of 2,868,878 shares during the same period.

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