In the latest trading session, 0.61 million Bloom Energy Corp (NYSE:BE) shares changed hands as the company’s beta touched 2.84. With the company’s most recent per share price at $12.57 changing hands around $0.0 or 0.00% at last look, the market valuation stands at $2.82B. BE’s current price is a discount, trading about -111.22% off its 52-week high of $26.55. The share price had its 52-week low at $9.51, which suggests the last value was 24.34% up since then. When we look at Bloom Energy Corp’s average trading volume, we note the 10-day average is 7.31 million shares, with the 3-month average coming to 4.68 million.
Analysts gave the Bloom Energy Corp (BE) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.88. If we narrow down to specifics, the data shows that 0 out of 24 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 9 recommended BE as a Hold, 12 felt it is a Buy and 0 rated the stock as Underweight. Bloom Energy Corp’s EPS for the current quarter is expected to be $0.12.
Bloom Energy Corp (NYSE:BE) trade information
With action 18.47%, the performance over the past five days has been green. The company’s shares are showing year-to-date downside of -34.26%, with the 5-day performance at 18.47% in the green. However, in the 30-day time frame, Bloom Energy Corp (NYSE:BE) is 11.14% up. Looking at the short shares, we see there were 33.82 million shares sold at short interest cover period of 5.66 days.
The consensus price target for the stock as assigned by Wall Street analysts is $21.40, meaning bulls need an upside of 41.26% from its recent market value. According to analyst projections, BE’s forecast low is $10.00 with $33.00 as the target high. To hit the forecast high, the stock’s price needs a -162.53% plunge from its current level, while the stock would need to tank 20.45% for it to hit the projected low.
Bloom Energy Corp (BE) estimates and forecasts
Data shows that the Bloom Energy Corp share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -14.95% over the past 6 months, a 43.90% in annual growth rate that is considerably higher than the industry average of -3.80%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for Bloom Energy Corp will fall -55.60%, while the growth in revenue is estimated to hit 77.30% for the next quarter. Year-over-year growth is forecast to reach 22.50% up from the last financial year.
Consensus estimates given by 16 financial analysts project the company’s revenue in the current quarter to hit an average of $481.24 million. 11 analysts are of the opinion that Bloom Energy Corp’s revenue for the quarter ending Mar 2024 will be $366.59 million. The company’s revenue for the corresponding quarters a year ago was $462.58 million and $260.4 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 4.00%. The estimates for the next quarter sales put growth at 40.80%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 7.65%. The 2023 estimates are for Bloom Energy Corp earnings to increase by 65.26%.
Bloom Energy Corp is expected to release its next quarterly earnings report between February 07 and February 12.
Bloom Energy Corp (NYSE:BE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 6.64% of Bloom Energy Corp shares while 77.36% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 82.87%. There are 77.36% institutions holding the Bloom Energy Corp stock share, with Ameriprise Financial, Inc. the top institutional holder. As of Jun 29, 2023, the company held 10.60% of the shares, roughly 23.72 million BE shares worth $387.79 million.
Vanguard Group Inc holds the second largest percentage of outstanding shares, with 7.86% or 17.59 million shares worth $287.52 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of May 30, 2023 were Columbia Fds Ser Tr II-Columbia Seligman Technology & Information Fund and Vanguard Total Stock Market Index Fund. With 12.97 million shares estimated at $177.91 million under it, the former controlled 5.79% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 2.60% of the shares, roughly 5.82 million shares worth around $95.12 million.