Time to Get Returns: Bloom Energy Corporation (NYSE: BE)

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On 29 May 2020, Bloom Energy Corporation (NYSE: BE) stock observed trading -44.66% off 52-week high price. On the other end, the stock has been noted 229.10% away from low price over the last 52-weeks. The stock disclosed a move of 18.53% away from 50 day moving average and 26.05% away from 200 day moving average. Moving closer, we can see that shares have been trading 0.69% off 20-day moving average.

Bloom Energy Corporation (BE) recently reported financial results for the fourth quarter ended December 31, 2019. The Company has issued a shareholder letter discussing its fourth quarter 2019 financial results and forward estimates.

Key highlights from the fourth quarter include:

Posted $213.8M of revenue, GAAP gross margin of 12.2% and net loss of $67.1M, which includes the impact of the adoption of ASC 606 revenue standard. Not Including stock-based compensation, Bloom achieved 16.2% gross margin and $3.7M of adjusted EBITDA.

Realized a record 386 acceptances, a 50.2% year-over-year increase and 27.8% higher than Q3 2019. The acceptances during the quarter represented twelve different end consumers, across nine industries and three countries.

Expanded product and installation backlog to 1,983 systems at year end, a 43.3% increase from the previous year.

Commenting on fourth quarter results, KR Sridhar, Founder, Chairman and CEO, Bloom Energy stated:

“We are happy to have delivered another great quarter for revenue and record acceptances – a strong ending to the year. For 2019, we grew acceptances by 48% and expanded our backlog by 43% to set us up for a solid 2020. Our positive momentum continues as tailwinds bolster our value proposition of reliability, resiliency, and cost effectiveness for our consumers.”

 

The USA based company Bloom Energy Corporation moved with change of -0.50% to $8.03 with the total traded volume of 2202704 shares in recent session versus to an average volume of 2920.49K. BE’s shares are at -11.47% for the quarter and driving a -26.06% return over the course of the past year and is now at 7.50% since this point in 2018. The average volatility for the week and month was at 5.63% and 8.09% respectively. There are 123.76M shares outstanding and 87.85M shares are floated in market.

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