Bloom Energy Corp [NYSE: BE] gained 7.57% on the last trading session, reaching $10.80 price per share at the time. The company report on March 6, 2024 at 9:02 AM that Bloom Energy Inc. Signs Agreements with Shell to Investigate Opportunities for Innovative Large-Scale, Renewable Hydrogen Energy Projects.
Bloom’s engagement with Shell will help the advancement of decarbonization opportunities for emergent SOEC technology.
Bloom Energy Inc. (NYSE:BE) is teaming up with Shell Plc. (Shell) to study decarbonization solutions, utilizing Bloom’s proprietary hydrogen electrolyzer technology.
If compared to the average trading volume of 5.32M shares, BE reached a trading volume of 10851911 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 Corp [BE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BE shares is $16.32 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 2.17. 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.
Truist have made an estimate for Bloom Energy Corp shares, keeping their opinion on the stock as Hold, with their previous recommendation back on March 06, 2024. The new note on the price target was released on February 16, 2024, representing the official price target for Bloom Energy Corp stock. Previously, the target price had yet another raise to $14, while JP Morgan analysts kept a Neutral rating on BE stock.
The Average True Range (ATR) for Bloom Energy Corp is set at 0.67, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 1.82. The Price to Book ratio for the last quarter was 4.83, with the Price to Cash per share for the same quarter was set at 3.16.
Trading performance analysis for BE stock
Bloom Energy Corp [BE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 14.04. With this latest performance, BE shares gained by 24.14% in over the last four-week period, additionally sinking by -21.34% over the last 6 months – not to mention a drop of -40.92% 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 58.26, with the RSI for the last a single of trading hit 66.30, and the three-weeks RSI is set at 53.48 for Bloom Energy Corp [BE]. The present Moving Average for the last 50 days of trading for this stock 10.51, while it was recorded at 10.02 for the last single week of trading, and 13.35 for the last 200 days.
Bloom Energy Corp [BE]: A deeper dive into fundamental analysis
Bloom Energy Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.43 and a Current Ratio set at 3.50.
Bloom Energy Corp [BE]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Bloom Energy Corp posted -0.22/share EPS, while the average EPS was predicted by analysts to be reported at -0.19/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -15.80%. 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.
An analysis of Institutional ownership at Bloom Energy Corp [BE]
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%.
