Bloom Energy Corp (NYSE:BE) shares, rose in value, with the stock price up by 0.68% to the previous day’s close as strong demand from buyers drove the stock to $11.79.
Actively observing the price movement in the last trading, the stock closed the session at $11.71. The value of beta (5-year monthly) was 2.76. Referring to stock’s 52-week performance, its high was $20.17, and the low was $8.41. On the whole, BE has fluctuated by 29.28% over the past month.
With the market capitalization of Bloom Energy Corp currently standing at about $2.65 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 07, 2024 – May 13, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.09, which is expected to increase to $0.05 for fiscal year $0.08 and then to about $0.43 by fiscal year 2025. Data indicates that the EPS growth is expected to be 180.00% in 2025, while the next year’s EPS growth is forecast to be 437.50%.
Analysts have estimated the company’s revenue for the quarter at $252.91 million, with a low estimate of $225.98 million and a high estimate of $288.76 million. According to the average forecast, sales growth in current quarter could jump down -2.90%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $1.49 billion, representing an increase of 11.50% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BE’s technical picture suggests that short-term indicators denote the stock is a 50% Sell on average. However, medium term indicators have put the stock in the category of 50% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of BE currently trading nearly 14.35% and 12.28% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 66.00, while the 7-day volatility ratio is showing 5.40% which for the 30-day chart, stands at 6.30%. Furthermore, Bloom Energy Corp (BE)’s beta value is 2.79, and its average true range (ATR) is 0.64.
A comparison of Bloom Energy Corp (BE) with its peers suggests the former has fared considerably weaker in the market. BE showed an intraday change of 0.68% in last session, and over the past year, it shrunk by -41.52%%.
Data on historical trading for Bloom Energy Corp (NYSE:BE) indicates that the trading volumes over the past 10 days have averaged 5.14 million and over the past 3 months, they’ve averaged 5.64 million. According to company’s latest data on outstanding shares, there are 224.72 million shares outstanding.
Nearly 2.06% of Bloom Energy Corp’s shares belong to company insiders and institutional investors own 78.68% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 37.58 million shares as on Mar 15, 2024, resulting in a short ratio of 5.12. According to the data, the short interest in Bloom Energy Corp (BE) stood at 16.70% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 31.51 million. The stock has fallen by -20.34% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BE stock heading into the next quarter.
