Bloom Energy Stock Tumbles 18% Ahead Of Thursday Earnings Report

Benzinga02:02

Bloom Energy Corp (NYSE:BE) shares plunged on Wednesday, reversing course from its all-time high reached just a day earlier as investors brace for the company’s critical earnings report scheduled for Thursday.

Sharp Reversal From All-Time High

The clean energy company’s stock had surged 6.83% to $166.79 on Tuesday, marking an all-time high. However, Wednesday’s sharp decline reflects growing investor uncertainty about whether Bloom Energy can justify its premium valuation amid a challenging earnings outlook.

Key Earnings Expectations

Analysts anticipate earnings per share of 24 cents for the upcoming report, representing a significant year-over-year decline from 43 cents. Revenue is projected at $646.84 million, up from $572.39 million in the prior year period.

The company has demonstrated strong execution recently, beating estimates in four consecutive quarters with an average EPS surprise of 1.8%. In its most recent quarter, Bloom Energy delivered EPS of 15 cents versus the 5 cents estimate, alongside revenue of $519.05 million that surpassed expectations of $420.79 million.

Technical Analysis

The RSI is currently at 69.16, which is considered neutral territory, while the MACD is above its signal line, indicating bullish momentum. The combination of a neutral RSI and bullish MACD suggests mixed momentum, indicating that while there is strength, the stock may be nearing overbought conditions.

Key Resistance: $148
Key Support: $136.50

Analyst Consensus & Recent Actions

The stock carries a Hold Rating with an average price target of $79.81. Recent analyst moves include:

Roth Capital: Neutral (Raises target to $133 on Feb. 3)
China Renaissance: Initiated with Buy (target $207 on Jan. 28)
Barclays: Initiated with Equal-Weight (target $153 on Jan. 28)

Benzinga Edge Rankings

Below is the Benzinga Edge scorecard for Bloom Energy, highlighting its strengths and weaknesses compared to the broader market:

Value Rank: 1.27 — The stock is performing poorly relative to its peers.
Growth Rank: 97.71 — Indicates strong growth potential.
Momentum Rank: 99.69 — The stock is outperforming the broader market.

BE Price Action

Bloom Energy shares were down 18.51% at $137.71 at the time of publication on Wednesday, according to Benzinga Pro data.

Photo courtesy: Shutterstock

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