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Bloom Energy Corp (BE) rating reiterates by TD Cowen

Bloom Energy Corp’s recent filing unveils that its Chief Operations Officer Chitoori Satish unloaded Company’s shares for reported $14964.0 on Jun 17 ’24. In the deal valued at $13.92 per share,1,075 shares were sold. As a result of this transaction, Chitoori Satish now holds 191,283 shares worth roughly $2.07 million.

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Then, SODERBERG SHAWN MARIE sold 1,160 shares, generating $14,117 in total proceeds. Upon selling the shares at $12.17, the insider now owns 166,843 shares.

Before that, ZERVIGON EDDY sold 28,150 shares. Bloom Energy Corp shares valued at $362,009 were divested by the Director at a price of $12.86 per share. As a result of the transaction, ZERVIGON EDDY now holds 111,161 shares, worth roughly $1.2 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 fall -4.84% to $10.82. Over the last five days, the stock has lost -18.77%. Bloom Energy Corp shares have fallen nearly -26.89% since the year began. Nevertheless, the stocks have fallen -33.82% over the past one year. While a 52-week high of $18.76 was reached on 05/22/24, a 52-week low of $8.41 was recorded on 02/23/24. SMA at 50 days reached $13.20, while 200 days put it at $12.18. A total of 8.5 million shares were traded, compared to the trading of 10.04 million shares in the previous session.

Levels Of Support And Resistance For BE Stock

The 24-hour chart illustrates a support level at 10.41, which if violated will result in even more drops to 10.01. On the upside, there is a resistance level at 11.46. A further resistance level may holdings at 12.10. The Relative Strength Index (RSI) on the 14-day chart is 32.67, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.80, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 96.87%. Stochastics%K at 2.39% indicates the stock is a buying.

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