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

Bloom Energy Corporation [NYSE: BE] slipped around -1.11 points on Thursday, while shares priced at $21.23 at the close of the session, down -4.97%. The company report on March 1, 2023 that Bloom Energy Fuel Cells Demonstrate Effectiveness in First Major Marine Deployment Aboard Cruise Ship Built by Chantiers de l’Atlantique.

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In their first major marine deployment, Bloom Energy (NYSE:BE) fuel cells demonstrated a significant increase in electrical efficiency on a luxury cruise ship built by Chantiers de l’Atlantique (CdA). Bloom and CdA have also announced that they have signed a memorandum of understanding to collaborate on developing future multi-MW installations on board marine vessels.

The 150kW solid oxide fuel cell platform provided auxiliary power to the ship, the MSC World Europa operated by MSC Cruises, while in port using liquefied natural gas (LNG), one of the cleanest marine fuels available. The MSC World Europa was docked in Qatar in November and December for the 2022 World Cup.

Bloom Energy Corporation stock is now 11.04% up from its year-to-date (YTD) trading value. BE Stock saw the intraday high of $22.99 and lowest of $21.22 per share. The company’s 52-week high price is 31.47, which means current price is +15.69% above from all time high which was touched on 02/02/23.

Compared to the average trading volume of 2.30M shares, BE reached a trading volume of 2617520 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 $29.70 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.

JP Morgan have made an estimate for Bloom Energy Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 10, 2023. The new note on the price target was released on January 10, 2023, representing the official price target for Bloom Energy Corporation stock. Previously, the target price had yet another drop from $27 to $22, while Wells Fargo kept a Equal Weight rating on BE stock.

The Average True Range (ATR) for Bloom Energy Corporation is set at 1.10, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 3.49. The Price to Book ratio for the last quarter was 12.56, with the Price to Cash per share for the same quarter was set at 1.78.

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 -2.08. With this latest performance, BE shares dropped by -12.56% in over the last four-week period, additionally sinking by -16.52% over the last 6 months – not to mention a drop of -10.31% 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 39.13, with the RSI for the last a single of trading hit 33.90, and the three-weeks RSI is set at 43.03 for Bloom Energy Corporation [BE]. The present Moving Average for the last 50 days of trading for this stock 22.64, while it was recorded at 22.35 for the last single week of trading, and 21.01 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 -21.77 and a Gross Margin at +12.37. Bloom Energy Corporation’s Net Margin is presently recorded at -25.14.

Return on Equity for this stock declined to -119.37, with Return on Assets sitting at -16.42.

Bloom Energy Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.50 and a Current Ratio set at 1.90.

Insider trade positions for Bloom Energy Corporation [BE]

There are presently around $2,896 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 20,877,698, which is approximately -0.228% of the company’s market cap and around 6.40% of the total institutional ownership; AMERIPRISE FINANCIAL INC, holding 20,000,248 shares of the stock with an approximate value of $424.61 million in BE stocks shares; and VANGUARD GROUP INC, currently with $330.27 million in BE stock with ownership of nearly -4.321% of the company’s market capitalization.

Positions in Bloom Energy Corporation stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 175 institutional holders increased their position in Bloom Energy Corporation [NYSE:BE] by around 11,784,423 shares. Additionally, 137 investors decreased positions by around 10,959,636 shares, while 61 investors held positions by with 113,667,957 shares. The mentioned changes placed institutional holdings at 136,412,016 shares, according to the latest SEC report filing. BE stock had 63 new institutional investments in for a total of 2,806,164 shares, while 35 institutional investors sold positions of 4,878,902 shares during the same period.


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