Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bloom Energy Corporation shares valued at $99,796 were sold by Brooks Guillermo on Jul 18. At $17.03 per share, Brooks Guillermo sold 5,860 shares. The insider’s holdings dropped to 19,140 shares worth approximately $0.44 million following the completion of this transaction.
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Also, SODERBERG SHAWN MARIE sold 3,095 shares, netting a total of over 53,048 in proceeds. Following the sale of shares at $17.14 each, the insider now holds 354,623 shares.
Before that, Sridhar KR had sold 10,937 shares from its account. In a trade valued at $181,882, the Chairman & CEO traded Bloom Energy Corporation shares for $16.63 each. Upon closing the transaction, the insider’s holdings decreased to 10,937 shares, worth approximately $11.48 million.
As published in their initiating research note from Northland Capital on July 08, 2022, Bloom Energy Corporation [BE] has been an Outperform and the price target has been revised to $28. This represents a 18.29% premium over Thursday’s closing price.
Analyzing BE’s Price Performance
On Thursday, Bloom Energy Corporation [NYSE: BE] rose 6.47% to $22.88. The stock’s lowest price that day was $21.425, but it reached a high of $22.94 in the same session. During the last five days, there has been a surge of approximately 13.44%. Over the course of the year, Bloom Energy Corporation shares have jumped approximately 4.33%. Shares of the company reached a 52-week high of $27.06 on 04/05/22 and a 52-week low of $11.47 on 05/12/22. A 50-day SMA is recorded $17.72, while a 200-day SMA reached $20.83. Nevertheless, trading volume fell to 2.47 million shares from 2.63 million shares the previous day.
Support And Resistance Levels for Bloom Energy Corporation (BE)
According to the 24-hour chart, there is a support level at 21.89, which, if violated, would cause prices to drop to 20.90. In the upper region, resistance lies at 23.41. The next price resistance is at 23.93. RSI (Relative Strength Index) is 71.89 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.09, which suggests the price will increase in the coming days. Percent R is at 0.89%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Bloom Energy Corporation subject to short interest?
Stocks of Bloom Energy Corporation saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.55 million shares to 16.7 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 16.15 million shares. A jump of 3.29% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.13 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.13.
Which companies own the most shares of Bloom Energy Corporation (BE)?
According to Columbia Management Investment Ad filings, the company currently owns 21,006,169 shares, which is about 12.94% of the total BE shares outstanding. The investor’s shares have appreciated by 787,980 from its previous 13-F filing of 20218189.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $200,625,761. BlackRock Fund Advisors reduced a -0.31% interest valued at $186.34 million while ClearBridge Investments LLC purchased a 685,213 stake. A total of 2,670,154 shares of Bloom Energy Corporation were bought by Norges Bank Investment Management during the quarter, and 279,809 were bought by BlackRock Advisors. In its current portfolio, JPMorgan Investment Management, I holds 3,069,777 shares valued at $50.65 million.
In terms of Bloom Energy Corporation share price expectations, FactSet research, analysts set an average price target of $24.65 in the next 12 months, up nearly 7.03% from the previous closing price of $21.49. Analysts anticipate Bloom Energy Corporation stock to reach $32.00 by 2022, with the lowest price target being $19.00. In spite of this, 19 analysts ranked Bloom Energy Corporation stock as an Overweight at the end of 2022. On February 28, 2022, Susquehanna assigned a price target of “a Positive” to the stock and upgraded coverage with a $33.