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Saturday, May 28, 2022

What Bloom Energy Corporation (BE) is Signalling With Its Sentiment Indicator?

Financial services firm Bernstein gave Bloom Energy Corp. (NYSE: BE) a positive recommendation. As a result of these factors, BE quotes grew significantly this week. As evidenced by its relationship between its 200-day and 20-day major moving averages, Bloom Energy Corporation (BE) has been in rally mode. The shares of BE have risen by 52.84% over the past 30 days.

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During the trailing 12 months, the stock has gained 342.27%, outpacing the overall stock market by 95.32%. Also, it trails competitors and similar names by 343.26%. A 20-day trading average for Bloom Energy Corporation (BE) is $37.89, and the current price is 1.05% off its 52-week high and 1291.6% off its 52-week low. This stock’s 50-day simple moving average is $31.29 and its 200-day simple moving average is $17.87. The price volatility in the stock for one week was 7.86%, while it was 9.32% over the course of one month. Having also looked at other market indicators of the stock’s price movement, we see that the relative strength index (RSI) is currently at 63.41, suggesting the stock is neutral.

Bloom Energy Corporation (BE) was given a neutral rating by Bernstein analyst Neil Beveridge. According to the recommendation, the target price was $41, which is just slightly less than the current quotations. The recommendation, however, was highly rated by investors since Bernstein believes Bloom Energy’s market potential is more than $2 trillion.

The business in question is one that manufactures hydrogen fuel cells as well as electrolyzers that break down water into oxygen and hydrogen. The cost of fuel cells is not the only problem with modern hydrogen technology. The most optimal option for fuel cells is in certain industries, like emergency power supply in remote cold regions, UAVs, and maritime transport, etc. Despite this, hydrogen fuel is not easily accessible — it cannot be bought at any gas station or the nearest port. A solution to this problem can be found in electrolysis plants that extract hydrogen from water using solar or wind power.

Bloom Energy Corporation (BE) and Samsung Heavy Industries partnered to develop fuel cell-based ship generators in late 2020. This is the initial phase for Bloom Energy Corporation (BE) entering a large market.

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