Bloom Energy Corp [NYSE: BE] price surged by 1.80 percent to reach at $0.21. The company report on April 8, 2024 at 4:03 PM that Bloom Energy to Receive up to $75 million in Federal Tax Credits for Fremont Manufacturing Plant.
A world leader in fuel cell electricity production to expand fuel cell manufacturing and advance operating efficiency at Fremont, CA facility.
Bloom Energy Inc. (NYSE:BE), a leading provider of clean energy solutions, was recently awarded up to $75 million in tax credits by the Department of Energy, Department of Treasury, and the Internal Revenue Service under the Qualifying Advanced Energy Project 48C initiative.
The one-year BE stock forecast points to a potential upside of 26.26. The average equity rating for BE stock is currently 2.15, trading closer to a bullish pattern in the stock market.
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 $16.11 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 2.15. 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.
Evercore ISI have made an estimate for Bloom Energy Corp shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on April 01, 2024. While these analysts kept the previous recommendation, Truist dropped their target price from $9 to $11. The new note on the price target was released on March 06, 2024, representing the official price target for Bloom Energy Corp stock.
The Average True Range (ATR) for Bloom Energy Corp is set at 0.63, with the Price to Sales ratio for BE stock in the period of the last 12 months amounting to 2.00. The Price to Book ratio for the last quarter was 5.32, with the Price to Cash per share for the same quarter was set at 3.16.
BE Stock Performance Analysis:
Bloom Energy Corp [BE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.11. With this latest performance, BE shares gained by 15.23% in over the last four-week period, additionally plugging by 6.74% over the last 6 months – not to mention a drop of -33.11% 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 66.06, with the RSI for the last a single of trading hit 74.46, and the three-weeks RSI is set at 59.90 for Bloom Energy Corp [BE]. The present Moving Average for the last 50 days of trading for this stock 10.47, while it was recorded at 11.75 for the last single week of trading, and 13.12 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 2.43 and a Current Ratio set at 3.50.
BE Stock EPS
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.
Bloom Energy Corp [BE] Institutonal Ownership Details
The top three institutional holders of BE stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BE stock with ownership which is approximately 5.8386%.
