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Bloom Energy Corp (BE) may enjoy gains as insiders got busy in the recent days

In a filing, Bloom Energy Corp revealed its Chairman & CEO Sridhar KR unloaded Company’s shares for reported $0.48 million on May 13 ’24. In the deal valued at $11.93 per share,40,112 shares were sold. As a result of this transaction, Sridhar KR now holds 2,742,496 shares worth roughly $34.23 million.

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Then, SODERBERG SHAWN MARIE sold 8,963 shares, generating $88,375 in total proceeds. Upon selling the shares at $9.86, the insider now owns 168,003 shares.

Before that, Sridhar KR sold 50,746 shares. Bloom Energy Corp shares valued at $494,266 were divested by the Chairman & CEO at a price of $9.74 per share. As a result of the transaction, Sridhar KR now holds 2,702,608 shares, worth roughly $33.73 million.

TD Cowen reiterated its Bloom Energy Corp [BE] rating to a Hold in a research note published on May 10, 2024; the price target was $13. A number of analysts have revised their coverage, including Evercore ISI’s analysts, who began to cover the stock in early April with a ‘”an Outperform”‘ rating. Truist also remained covering BE and has increased its forecast on March 06, 2024 with a “Hold” recommendation from previously “Sell” rating. KeyBanc Capital Markets revised its rating on February 16, 2024. It rated BE as “a Sector weight” which previously was an “an Overweight”.

Price Performance Review of BE

On Tuesday, Bloom Energy Corp [NYSE:BE] saw its stock jump 8.05% to $12.48. Over the last five days, the stock has gained 6.03%. Bloom Energy Corp shares have fallen nearly -15.68% since the year began. Nevertheless, the stocks have fallen -1.89% over the past one year. While a 52-week high of $18.76 was reached on 01/02/24, a 52-week low of $8.41 was recorded on 02/23/24. SMA at 50 days reached $10.67, while 200 days put it at $12.35. A total of 7.27 million shares were traded, compared to the trading of 5.78 million shares in the previous session.

Levels Of Support And Resistance For BE Stock

The 24-hour chart illustrates a support level at 11.99, which if violated will result in even more drops to 11.50. On the upside, there is a resistance level at 13.02. A further resistance level may holdings at 13.56. The Relative Strength Index (RSI) on the 14-day chart is 65.06, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 23.98%. Stochastics %K at 59.05% indicates the stock is a holding.

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