Bloom Energy Corporation [NYSE:BE] prices rallied 10.75% on Wednesday.
With a current price of $21.63, BE is active in the Electrical Equipment & Parts industry and it looks to be on-track for a five-day run of 20.37%.
In addition, BE’s high over the last year is $20.71 and the low is $2.44. Over the last two 52 weeks, the company is trading 602.27%, while the S&P 500 is trading 1.71%.
The Price is right
Holding a Market Cap of $3.10 billion, Bloom Energy Corporation has seen a trading range over the last year of $2.44-$20.71.
For the last five days, BE is up from its last closing price. The average shares trading hands each day is 5.43M.
Using a Force Index Indicator is a good way to look at how strong actual buying and selling pressure is for BE. When we apply the Elder Force Index to Bloom Energy Corporation, we are seeing an Elder Force Indicator number of 23808082.2.
In the last quarter, BE made a profit of 26.25 million. Bloom Energy Corporation also saw quarter revenue growth year over year of 24.11%.
Looking at popular technical indicators, the company’s 5-day moving average is 18.42 compared to the 50-day moving average of 13.75%. So, we are clearly seeing an upward trajectory here.
The Relative Strength Index or RSI is an indicator ranging between 0 and 100 that traders use to determine if a stock is “overbought” or “oversold.” A strong uptrend tending to reach into the “overbought” status is above 70, while a downward trend will stay around the 30 mark. BE currently holds a 9-day RSI of 73.17%, while 100-day RSI stands at 57.68%.
Another indicator we believe is worth keeping tabs on is the Moving Average Convergence Divergence or MACD. Similar to the concept of the Force Index — on the basis of price momentum — the MACD gives traders a tool to measure the turning point of a stock even during rapid fluctuations in price. Buy and sell signals are determined by a stock’s relation to the zero line, so if a stock is above a zero line for many weeks it might be a “buy.” On the other hand, if a stock is below the zero line consistently, it might be one to stay away from. Also, if the MACD line reaches a peak and dips, its momentum may be waning. BE’s 9-day MACD is 1.95 and the company’s 100-day MACD stands at 6.49.
Another area that is important to analyze is insider moves and majority shareholders. While this is not always an error-free way to tell what the future holds for a stock, you can maybe gather important information from reading the tea leaves about who is buying and selling.
The major holders for this stock are 5.82% by insiders and 52.51% by institutions. Regarding institutional holdings, Ameriprise Financial, Inc. owns 10.44%, while the second top holder, Vanguard Group, Inc. (The), currently owns 6.31%.
Over the last six months, insiders have sold 2,000 with the most recent transaction from Brennan Susan Seilheimer, EVP & COO, with a sell at price 17.51 per share.
Overall, the recommended rating for BE is Moderate Buy. Currently, the company has 7 analysts watching the stock, and the average quarterly earnings estimate is -0.12. Quarterly revenue estimates are averaging 221.25M with the high estimate reaching 274.25M and the low at 174.62M.
To review, the current 1-year target estimate is sitting at 16.00, while the current price 21.63. Based on this, we expect some pullback on the stock over time given our above analysis.