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Bloom Energy (BE) Gains As Market Dips: What You Should Know

Zacks Equity Research
·2 min read

In the latest trading session, Bloom Energy (BE) closed at $38.86, marking a +0.39% move from the previous day. This change outpaced the S&P 500's 0.38% loss on the day. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.12%.

Heading into today, shares of the developer of fuel cell systems had gained 49.58% over the past month, outpacing the Oils-Energy sector's gain of 8.21% and the S&P 500's gain of 4.12% in that time.

Wall Street will be looking for positivity from BE as it approaches its next earnings report date. This is expected to be February 10, 2021. On that day, BE is projected to report earnings of $0.02 per share, which would represent a year-over-year decline of 50%. Meanwhile, our latest consensus estimate is calling for revenue of $221.08 million, up 3.41% from the prior-year quarter.

It is also important to note the recent changes to analyst estimates for BE. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. BE is currently a Zacks Rank #3 (Hold).

The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 204, putting it in the bottom 20% of all 250+ industries.

The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.


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