Bloom Energy Corp [NYSE: BE] stock went on a downward path that fall over -4.57% on Monday, amounting to a one-week price decrease of less than -1.33%. The company report on December 27, 2023 at 5:33 PM that Bloom Energy and SK ecoplant Collaborate on a Major Hydrogen Project to be Developed by Korea Southern Power Co., Ltd.
Bloom Energy (NYSE: BE) and SK ecoplant, an engineering and energy solutions provider and subsidiary of South Korean conglomerate SK Group, today announced a sale of Bloom’s electrolyzer technology to deploy hydrogen as an energy source in a large-scale green hydrogen demonstration with the Korea Southern Power Co., Ltd (KOSPO) and local government.
The first-of-its-kind demonstration for South Korea, which will commence in late 2025, includes 1.8 megawatts (MW) of Bloom’s industry-leading Solid Oxide Electrolyzer (SOEC) technology to develop green hydrogen at scale for use as transport fuel on Jeju Island, South Korea. Jeju Island is known as a leading market for renewable energy projects.
Over the last 12 months, BE stock dropped by -51.96%. The one-year Bloom Energy Corp stock forecast points to a potential upside of 40.5. The average equity rating for BE stock is currently 1.96, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.67 billion, with 224.05 million shares outstanding and 196.20 million shares in the current float. Compared to the average trading volume of 5.06M shares, BE stock reached a trading volume of 8668103 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Bloom Energy Corp [BE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BE shares is $20.00 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 1.96. 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.
BofA Securities have made an estimate for Bloom Energy Corp shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on Jan-30-24.
The Average True Range (ATR) for Bloom Energy Corp is set at 0.76, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 1.85. The Price to Book ratio for the last quarter was 5.47, with the Price to Cash per share for the same quarter was set at 2.68.
BE Stock Performance Analysis:
Bloom Energy Corp [BE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.33. With this latest performance, BE shares dropped by -21.97% in over the last four-week period, additionally sinking by -31.45% over the last 6 months – not to mention a drop of -51.96% 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 40.01, with the RSI for the last a single of trading hit 38.64, and the three-weeks RSI is set at 42.29 for Bloom Energy Corp [BE]. The present Moving Average for the last 50 days of trading for this stock 13.49, while it was recorded at 12.13 for the last single week of trading, and 14.44 for the last 200 days.
Insight into Bloom Energy Corp Fundamentals:
Bloom Energy Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.46 and a Current Ratio set at 3.49.
BE Stock EPS
With the latest financial reports released by the company, Bloom Energy Corp posted 0.27/share EPS, while the average EPS was predicted by analysts to be reported at 0.12/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 125.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BE.
Bloom Energy Corp [BE] Institutonal Ownership Details
The top three institutional holders of BE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BE stock with ownership which is approximately 5.8325%.
