Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Bloom Energy Corporation shares valued at $491,731 were sold by ZERVIGON EDDY on Feb 27. At $21.57 per share, ZERVIGON EDDY sold 22,797 shares. The insider’s holdings dropped to 124,808 shares worth approximately $2.65 million following the completion of this transaction.
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Also, Sridhar KR sold 63,777 shares, netting a total of over 1,419,676 in proceeds. Following the sale of shares at $22.26 each, the insider now holds 538,108 shares.
Before that, Moore Sharelynn Faye had sold 6,247 shares from its account. In a trade valued at $139,745, the EVP, Chief Marketing Officer traded Bloom Energy Corporation shares for $22.37 each. Upon closing the transaction, the insider’s holdings decreased to 6,247 shares, worth approximately $3.17 million.
As published in a research note from JP Morgan on February 10, 2023, Bloom Energy Corporation [BE] has been rated down from an Overweight to a Neutral and the price target has been revised to $27 from $29. This represents a 21.37% premium over Thursday’s closing price. Analysts at Morgan Stanley upgraded the stock from ‘”an Equal-weight”‘ to ‘”an Overweight”‘ outlook in a report released in early January. As of January 06, 2023, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for BE. Earlier on December 14, 2022, UBS initiated its rating. Their recommendation was “a Buy” for BE stock.
Analyzing BE Stock Performance
On Thursday, Bloom Energy Corporation [NYSE: BE] plunged -4.97% to $21.23. The stock’s lowest price that day was $21.22, but it reached a high of $22.99 in the same session. During the last five days, there has been a drop of approximately -2.08%. Over the course of the year, Bloom Energy Corporation shares have jumped approximately 11.04%. Shares of the company reached a 52-week high of $26.55 on 02/02/23 and a 52-week low of $18.35 on 01/06/23. A 50-day SMA is recorded $22.64, while a 200-day SMA reached $21.01. Nevertheless, trading volume fell to 2.62 million shares from 1.28 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 20.64, which, if violated, would cause prices to drop to 20.04. In the upper region, resistance lies at 22.41. The next price resistance is at 23.58. RSI (Relative Strength Index) is 39.13 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.09, which suggests the price will decrease in the coming days. Percent R is at 93.09%, indicating bearish price movement. Stochastics %K at holding 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 Jan 12, 2023 jumping by 1.08 million shares to 17.54 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 16.46 million shares. A jump of 6.16% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 7.07 of the overall float, the days-to-cover ratio (short ratio) jumped to 7.07.
Which companies own the most shares of Bloom Energy Corporation (BE)?
According to Columbia Management Investment Ad filings, the company currently owns 19,303,757 shares, which is about 10.76% of the total BE shares outstanding. The investor’s shares have plunged by -946,292 from its previous 13-F filing of 20250049.0 shares. With the completion of the sale transaction, The Vanguard Group, Inc.’s stake is now worth $375,884,693. BlackRock Fund Advisors acquire a 12.87% interest valued at $370.42 million while ClearBridge Investments LLC purchased a 469,776 stake. A total of 1,993,620 shares of Bloom Energy Corporation were bought by Norges Bank Investment Management during the quarter, and 239,404 were bought by SSgA Funds Management, Inc. In its current portfolio, BlackRock Advisors holds 3,852,321 shares valued at $96.04 million.
In terms of Bloom Energy Corporation share price expectations, FactSet research, analysts set an average price target of $29.68 in the next 12 months, up nearly 34.29% from the previous closing price of $22.34. Analysts anticipate Bloom Energy Corporation stock to reach $40.00 by 2023, with the lowest price target being $21.00. In spite of this, 22 analysts ranked Bloom Energy Corporation stock as an Overweight at the end of 2023. On October 19, 2022, Jefferies assigned a price target of “a Buy” to the stock and initiated coverage with a $29.