Bloom Energy Corp (NYSE: BE) stock jumped 1.21% on Friday to $12.57 against a previous-day closing price of $12.42. With 4.9 million shares changed hands, the volume of the stock remained heavier than its average volume of 4.64 million shares. The 52-week range on BE shows that it touched its highest point at $26.55 and its lowest point at $9.51 during that stretch. It currently has a 1-year price target of $21.40. Beta for the stock currently stands at 2.83.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BE was up-trending over the past week, with a rise of 19.26%, but this was up by 5.28% over a month. Three-month performance dropped to -12.83% while six-month performance fell -9.83%. The stock lost -40.85% in the past year, while it has lost -34.26% so far this year. A look at the trailing 12-month EPS for BE yields -1.70 with Next year EPS estimates of 0.41. For the next quarter, that number is 0.13. This implies an EPS growth rate of 65.26% for this year and 388.87% for next year.
Float and Shares Shorts:
At present, 224.05 million BE shares are outstanding with a float of 196.19 million shares on hand for trading. On Oct 30, 2023, short shares totaled 33.82 million, which was 15.11% higher than short shares on Sep 28, 2023. In addition to Dr. K. R. Sridhar Ph.D. as the firm’s Co-Founder, CEO & Chairman, Mr. Gregory D. Cameron serves as its President & CFO.
Through their ownership of 77.36% of BE’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.79% of BE, in contrast to 25.25% held by mutual funds. Shares owned by individuals account for 24.68%. As the largest shareholder in BE with 10.66% of the stake, Columbia Management Investment Ad holds 23,854,385 shares worth 23,854,385. A second-largest stockholder of BE, The Vanguard Group, Inc., holds 18,660,527 shares, controlling over 8.34% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in BE, holding 12,651,832 shares or 5.65% stake. With a 7.14% stake in BE, the Columbia Seligman Technology & In is the largest stakeholder. A total of 15,992,054 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.85% of BE stock, is the second-largest Mutual Fund holder. It holds 6,384,321 shares valued at 66.4 million. iShares II Plc – Global Clean Ene holds 2.48% of the stake in BE, owning 5,545,033 shares worth 57.67 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BE analysts setting a high price target of $33.00 and a low target of $10.00, the average target price over the next 12 months is $21.40. Based on these targets, BE could surge 162.53% to reach the target high and fall by -20.45% to reach the target low. Reaching the average price target will result in a growth of 70.25% from current levels.
Summary of Insider Activity:
Insiders traded BE stock several times over the past three months with 3 Buys and 0 Sells. In these transactions, 26,985,570 shares were bought while 0 shares were sold. The number of buy transactions has increased to 65 while that of sell transactions has risen to 41 over the past year. The total number of shares bought during that period was 38,510,663 while 601,819 shares were sold.