Bloom Energy Corp (NYSE: BE) Stock: Does It Have More Upside?

In the last trading session, 4.18 million shares of the Bloom Energy Corp (NYSE:BE) were traded, and its beta was 2.78. Most recently the company’s share price was $11.24, and it changed around $0.21 or 1.90% from the last close, which brings the market valuation of the company to $2.53B. BE currently trades at a discount to its 52-week high of $20.62, offering almost -83.45% off that amount. The share price’s 52-week low was $8.41, which indicates that the current value has risen by an impressive 25.18% since then. We note from Bloom Energy Corp’s average daily trading volume that its 10-day average is 5.0 million shares, with the 3-month average coming to 5.49 million.

Bloom Energy Corp stock received a consensus recommendation rating of Overweight, based on a mean score of 2.20. If we narrow it down even further, the data shows that 0 out of 1 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 0 recommended BE as a Hold, whereas 0 deemed it a Buy, and 0 rated it as Underweight. Bloom Energy Corp is expected to report earnings per share of -$0.09 for the current quarter.

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Bloom Energy Corp (NYSE:BE) trade information

Instantly BE has showed a green trend with a performance of 1.90% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -24.05% year-to-date, but still up 14.46% over the last five days. On the other hand, Bloom Energy Corp (NYSE:BE) is 25.03% up in the 30-day period. We can see from the shorts that 37.58 million shares have been sold at a short interest cover period of 5.12 day(s).

The consensus price target as assigned by Wall Street analysts is $25.7, which translates to bulls needing to increase their stock price by 56.26% from its current value. Analyst projections state that BE is forecast to be at a low of $11 and a high of $35.

Bloom Energy Corp (BE) estimates and forecasts

Bloom Energy Corp share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -16.24 percent over the past six months and at a 240.00% annual growth rate that is well above the industry average of 12.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 59.10% in revenue this quarter, and will report an increase of 94.10% in the next quarter. The year-over-year growth rate is expected to be 10.30%, up from the previous year.

Consensus estimates provided by 17 financial analysts predict the company will bring in an average of $252.91 million in revenue for the current quarter. 17 analysts expect Bloom Energy Corp to make $334.69 million in revenue for the quarter ending Jun 2024. Analysts predict that the company’s current quarter sales will drop, forecast at -2.90%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 22.66%.

BE Dividends

Bloom Energy Corp’s next quarterly earnings report is expected to be released around May 07 and May 13.

Bloom Energy Corp (NYSE:BE)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 13.31% of Bloom Energy Corp shares, and 82.96% of them are in the hands of institutional investors. The stock currently has a share float of 95.69%. Bloom Energy Corp stock is held by 456 institutions, with Ameriprise Financial, Inc. being the largest institutional investor. By Jun 29, 2023, it held 10.60% of the shares, which is about 23.72 million shares worth $387.79 million.

Vanguard Group Inc, with 7.86% or 17.59 million shares worth $287.52 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Columbia Fds Ser Tr II-Columbia Seligman Technology & Information Fund and Vanguard Total Stock Market Index Fund were the top two Mutual Funds as of May 30, 2023. The former held 12.97 million shares worth $177.91 million, making up 5.79% of all outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held roughly 5.82 million shares worth around $95.12 million, which represents about 2.60% of the total shares outstanding.