The share price of Bloom Energy Corporation (NYSE:BE) rose to $24.93 per share on Tuesday from $24.18. While Bloom Energy Corporation has overperformed by 3.10%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, BE rose by 83.44%, with highs and lows ranging from $31.47 to $11.47, whereas the simple moving average jumped by 22.90% in the last 200 days.
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On January 10, 2023, Morgan Stanley Upgraded Bloom Energy Corporation (NYSE: BE) to Overweight. A report published by Wells Fargo on January 06, 2023, Downgraded its rating to ‘Equal Weight’ for BE. UBS also rated BE shares as ‘Buy’, setting a target price of $35 on the company’s shares in an initiating report dated December 14, 2022. Jefferies Initiated an Buy rating on October 19, 2022, and assigned a price target of $29. BofA Securities initiated its ‘Buy’ rating for BE, as published in its report on August 25, 2022. Northland Capital’s report from July 08, 2022 suggests a price prediction of $28 for BE shares, giving the stock a ‘Outperform’ rating. Piper Sandler also rated the stock as ‘Neutral’.
Analysis of Bloom Energy Corporation (BE)
Further, the quarter-over-quarter increase in sales is 41.10%, showing a positive trend in the upcoming months.
To gain a thorough understanding of Bloom Energy Corporation’s future performance, several well-rounded types of analysis and research techniques can be used, with equity being among the most crucial. The goal here is to ensure that your current return on equity of 826.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.80, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
It is also very valuable to look at average volume as an indicator of volatility for a stock, and BE is recording an average volume of 2.36M. On a monthly basis, the volatility of the stock is set at 5.64%, whereas on a weekly basis, it is put at 5.61%, with a loss of -0.24% over the past seven days. Furthermore, long-term investors anticipate a median target price of $28.60, showing growth from the present price of $24.93, which can serve as yet another indication of whether BE is worth investing in or should be passed over.
How Do You Analyze Bloom Energy Corporation Shares?
The number of employees owning shares of the company should also be considered in addition to the fundamentals. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 6.40%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 81.80% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in BE shares?
The recent increase in stakes in BE appears to be a result of several institutional investors and hedge funds increasing their positions. Columbia Management Investment Ad’s position in BE has decreased by -1.25% in the first quarter. The company now owns 20,250,049 shares of the stock, with a value of $387.18 million, following the sale of -256,316 additional shares during the last quarter. The Vanguard Group, Inc. made another increased to its shares in BE during the first quarter, upping its stake by 12.90%. During the last quarter, the company picked up 1,805,396 additional shares for a total stake of worth $302.17 million, bringing number of shares owned by the company to 15,803,942.
During the first quarter, BlackRock Fund Advisors added a 973,931 position in BE. ClearBridge Investments LLC purchased an additional 1.66 million shares in the last quarter, increasing its holdings by 42.72%, now holding 5.53 million shares worth $105.83 million. At the end of the first quarter, BlackRock Advisors increased its BE holdings by 0.36% and now holds 4.48 million BE shares valued at $85.71 million with the added 16081.0 shares during the period. BE shares are owned by institutional investors to the tune of 81.80% at present.
