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Why Bloom Energy Corp (BE) Stock Could See Much Higher Prices Ahead

Bloom Energy Corp (NYSE: BE) is -20.74% lower on its value in year-to-date trading and has touched a low of $8.41 and a high of $20.62 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The BE stock was last observed hovering at around $11.24 in the last trading session, with the day’s gains setting it 0.49%.

Currently trading at $11.73, the stock is 18.34% and 11.81% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 5.55 million and changing 4.36% at the moment leaves the stock -11.83% off its SMA200. BE registered -38.26% loss for a year compared to 6-month loss of -11.34%. The firm has a 50-day simple moving average (SMA 50) of $2.50 and a 200-day simple moving average (SMA200) of -$24.63.

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The stock witnessed a 33.75% gain in the last 1 month and extending the period to 3 months gives it a -22.98%, and is 18.84% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 5.46% over the week and 6.40% over the month.

Bloom Energy Corp (BE) has around 2377 employees, a market worth around $2.64B and $1.33B in sales. Fwd P/E is 27.38. Profit margin for the company is -22.66%. Distance from 52-week low is 39.44% and -43.11% from its 52-week high. The company has generated returns on investments over the last 12 months (-15.93%).

Bloom Energy Corp quarterly earnings per share for the current quarter are estimated at -$0.09 with sales reaching $252.91M over the same period.The EPS is expected to grow by 234.90% this year, but quarterly earnings will post 10.30% year-over-year. Quarterly sales are estimated to shrink -2.90% in year-over-year returns.

Bloom Energy Corp (BE) Top Institutional Holders

456 institutions hold shares in Bloom Energy Corp (BE), with institutional investors hold 95.69% of the company’s shares. The shares outstanding are 224.72M, and float is at 196.85M with Short Float at 19.09%. Institutions hold 82.96% of the Float.

The top institutional shareholder in the company is Ameriprise Financial, Inc. with over 23.72 million shares valued at $387.79 million. The investor’s holdings represent 10.60% of the BE Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 17.59 million shares valued at $287.52 million to account for 7.86% of the shares outstanding. The other top investors are Blackrock Inc. which holds 14.59 million shares representing 6.52% and valued at over $238.53 million, while ClearBridge Investments, LLC holds 2.74% of the shares totaling 6.14 million with a market value of $100.33 million.

Bloom Energy Corp (BE) Insider Activity

The most recent transaction is an insider sale by Sridhar KR,the company’sChairman & CEO. SEC filings show that Sridhar KR sold 50,746 shares of the company’s common stock on Mar 18 ’24 at a price of $9.74 per share for a total of $0.49 million. Following the sale, the insider now owns 2.7 million shares.

Bloom Energy Corp disclosed in a document filed with the SEC on Mar 18 ’24 that SODERBERG SHAWN MARIEsold a total of 2,160 shares of the company’s common stock. The trade occurred on Mar 18 ’24 and was made at $9.31 per share for $20110.0. Following the transaction, the insider now directly holds 0.15 million shares of the BE stock.

Still, SEC filings show that on Feb 16 ’24, SODERBERG SHAWN MARIE (EVP, GC & Secretary) disposed off 13,120 shares at an average price of $9.34 for $0.12 million. The insider now directly holds 73,946 shares of Bloom Energy Corp (BE).

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