Bloom Energy Corporation [BE] Is Currently 5.92 below its 200 Period Moving Avg: What Does This Mean?

Bloom Energy Corporation [NYSE: BE] gained 5.92% on the last trading session, reaching $23.26 price per share at the time. 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.

Bloom Energy Corporation represents 186.49 million in outstanding shares, while the company has a total market value of $4.56 billion with the latest information. BE stock price has been found in the range of $22.505 to $24.405.

If compared to the average trading volume of 2.54M shares, BE reached a trading volume of 4565572 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $28.63 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.

UBS have made an estimate for Bloom Energy Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 14, 2022. While these analysts kept the previous recommendation, Jefferies raised their target price to Buy. The new note on the price target was released on October 19, 2022, representing the official price target for Bloom Energy Corporation stock. Previously, the target price had yet another raise to $34, while BofA Securities analysts kept a Buy rating on BE stock.

The Average True Range (ATR) for Bloom Energy Corporation is set at 1.36, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 4.22. The Price to Book ratio for the last quarter was 25.01, with the Price to Cash per share for the same quarter was set at 2.52.

Trading performance analysis for BE stock

Bloom Energy Corporation [BE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 16.07. With this latest performance, BE shares gained by 7.83% in over the last four-week period, additionally plugging by 39.78% over the last 6 months – not to mention a rise of 8.24% 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 64.43, with the RSI for the last a single of trading hit 70.07, and the three-weeks RSI is set at 60.47 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 19.54, while it was recorded at 21.61 for the last single week of trading, and 20.54 for the last 200 days.

Bloom Energy Corporation [BE]: A deeper dive into fundamental analysis

Bloom Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 2.50.

An analysis of insider ownership at Bloom Energy Corporation [BE]

There are presently around $3,154 million, or 81.80% of BE stock, in the hands of institutional investors. The top three institutional holders of BE stocks are: BLACKROCK INC. with ownership of 20,925,333, which is approximately 8.837% of the company’s market cap and around 8.30% of the total institutional ownership; AMERIPRISE FINANCIAL INC, holding 20,713,155 shares of the stock with an approximate value of $481.79 million in BE stocks shares; and VANGUARD GROUP INC, currently with $378.2 million in BE stock with ownership of nearly 12.779% of the company’s market capitalization.

170 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 24,597,558 shares. Additionally, 122 investors decreased positions by around 5,590,615 shares, while 55 investors held positions by with 105,411,023 shares. The mentioned changes placed institutional holdings at 135,599,196 shares, according to the latest SEC report filing. BE stock had 56 new institutional investments in for a total of 5,178,033 shares, while 33 institutional investors sold positions of 1,470,951 shares during the same period.


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