Bloom Energy (NASDAQ:BE), a leading provider of hydrogen-fuel-cell-based platforms, reported its third-quarter financial results on Nov. 8, highlighting a record revenue and widening losses. BE stock jumped 7% following the mixed report.
Revenues at the San Jose-based energy firm hit $400.3 million in the third quarter, exceeding analyst expectations of $369.2 million by 8.4%. This equates to year-over-year growth of 36.9%.
Yet, the profit picture was less rosy. The loss per share in Q3 stood at 80 cents, a significant miss against the predicted loss per share of 4 cents. Bloom Energy had lost just 31 cents per share in the prior year.
While the company is upbeat about its growth trajectory and innovation plans, the market’s response has been less favorable. The year-to-date return for Bloom stands at -47.1%, far lower than the 15.6% return on the S&P 500 index during the same period.
Bloom Energy is known for its fuel-flexible Bloom Energy Server and Bloom Electrolyzer, primarily producing electricity and hydrogen. These solutions are valuable to a range of industries, including gas, utilities, nuclear, concentrated solar, ammonia, and heavy industries. The company’s future prospects seem bolstered by initiatives to decarbonize the marine industry through the design and development of fuel cell-powered ships.
Technical Analysis
Price Momentum
BE is trading near the bottom of its 52-week range and below its 200-day simple moving average.
What does this mean?
Investors have been pushing the share price lower, and the stock still appears to have downward momentum heading to a consolidation Zone
Revenues at the San Jose-based energy firm hit $400.3 million in the third quarter, exceeding analyst expectations of $369.2 million by 8.4%. This equates to year-over-year growth of 36.9%.
Yet, the profit picture was less rosy. The loss per share in Q3 stood at 80 cents, a significant miss against the predicted loss per share of 4 cents. Bloom Energy had lost just 31 cents per share in the prior year.
While the company is upbeat about its growth trajectory and innovation plans, the market’s response has been less favorable. The year-to-date return for Bloom stands at -47.1%, far lower than the 15.6% return on the S&P 500 index during the same period.
Bloom Energy is known for its fuel-flexible Bloom Energy Server and Bloom Electrolyzer, primarily producing electricity and hydrogen. These solutions are valuable to a range of industries, including gas, utilities, nuclear, concentrated solar, ammonia, and heavy industries. The company’s future prospects seem bolstered by initiatives to decarbonize the marine industry through the design and development of fuel cell-powered ships.
Technical Analysis
Price Momentum
BE is trading near the bottom of its 52-week range and below its 200-day simple moving average.
What does this mean?
Investors have been pushing the share price lower, and the stock still appears to have downward momentum heading to a consolidation Zone
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