BE•Bloom Energy fell 10.7% to $194.38, its lowest level since Aug. 24, despite quarterly revenue of $1.24 billion and adjusted earnings per share of 94 cents beating analysts’ estimates.
Revenue surged 138% year over year to $1.24 billion, above the $1.06 billion forecast. Adjusted earnings per share rose to 94 cents from 15 cents a year earlier, beating estimates of 68 cents.
Roth Capital said Bloom Energy’s valuation already reflects high expectations for future orders and capacity growth, while limited transparency keeps it cautious despite the results. Bloom Energy was added to the S&P 500 last month, after its shares had gained about 123% this year. Analyst recommendations include 16 “strong buy” or “buy,” 14 “hold” and one “sell” or “strong sell.”
