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Chief Operations Officer Chitoori Satish sold 1,075 shares of Bloom Energy Corp [BE]

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Bloom Energy Corp shares valued at $14,964 were sold by Chitoori Satish on Jun 17 ’24. At $13.92 per share, Chitoori Satish sold 1,075 shares. The insider’s holdings dropped to 191,283 shares worth approximately $2.45 million following the completion of this transaction.

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Also, SODERBERG SHAWN MARIE sold 1,160 shares, netting a total of over 14,117 in proceeds. Following the sale of shares at $12.17 each, the insider now holds 166,843 shares.

Before that, ZERVIGON EDDY had sold 28,150 shares from its account. In a trade valued at $362,009, the Director traded Bloom Energy Corp shares for $12.86 each. Upon closing the transaction, the insider’s holdings decreased to 28,150 shares, worth approximately $1.42 million.

As published in a research note from TD Cowen on May 10, 2024, Bloom Energy Corp [BE] has been retained to a Hold and the price target has been revised to $13. Analysts at Evercore ISI started covering the stock with ‘”an Outperform”‘ outlook in a report released in early April. As of March 06, 2024, Truist has increased its “Sell” rating to a “Hold” for BE. Earlier on February 16, 2024, KeyBanc Capital Markets downgraded its rating. Their new recommendation was “a Sector weight” for BE stock which previously was a “an Overweight”.

Analyzing BE Stock Performance

During the last five days, there has been a surge of approximately 18.30%. Over the course of the year, Bloom Energy Corp shares have dropped approximately -13.51%. Shares of the company reached a 52-week high of $18.14 on 05/22/24 and a 52-week low of $8.41 on 02/23/24. A 50-day SMA is recorded $13.45, while a 200-day SMA reached $12.13. Nevertheless, trading volume fell to 3.53 million shares from 4.23 million shares the previous day.

Support And Resistance Levels for Bloom Energy Corp (BE)

According to the 24-hour chart, there is a support level at 12.29, which, if violated, would cause prices to drop to 11.77. In the upper region, resistance lies at 13.10. The next price resistance is at 13.39. RSI (Relative Strength Index) is 48.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.01, which suggests the price will decrease in the coming days. Percent R is at 39.55%, indicating low price movement. Stochastics%K at holding indicates that the stock is to be held.

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