| Ticker | Status | Jurisdiction | Filing Date | CP Start | CP End | CP Loss | Deadline |
|---|
| Ticker | Case Name | Status | CP Start | CP End | Deadline | Settlement Amt |
|---|
| Ticker | Name | Date | Analyst Firm | Up/Down | Target ($) | Rating Change | Rating Current |
|---|
Bloom Energy Corp (NYSE:BE) is trading sharply higher on Wednesday afternoon, benefiting from a broader market rebound that saw the Nasdaq-100 gain over 1% by midday. The positive momentum follows the finalization of a major capital raise, which had pressured the stock when it was first announced last week.
What To Know: According to an SEC filing from Tuesday, Bloom Energy officially issued $2.5 billion in 0% Convertible Senior Notes due 2030. This total offering was upsized from an initial $1.75 billion announcement and included the full $300 million option exercised by initial purchasers.
Concurrently with the offering, Bloom used proceeds to enter into exchange agreements with holders of its existing notes, swapping approximately $532.8 million of its 2028 notes and $443.1 million of its 2029 notes for a combination of cash and Class A common stock.
With the financing completed, investor focus is returning to Bloom’s blockbuster third-quarter earnings. The company recently reported a 57.1% year-over-year revenue increase to over $519 million and adjusted earnings of 15 cents per share, beating analyst expectations of 9 cents.
Benzinga Edge Rankings: Underscoring its recent performance, Benzinga Edge rankings give Bloom Energy a 99.69 Momentum score and a 98.45 Growth score.
BE Price Action: Bloom Energy shares were up 9.09% at $140.96 at publication on Wednesday. The stock is trading closer to its 52-week high of $147.82, according to Benzinga Pro data.
By now you're likely curious about how to participate in the market for Bloom Energy — be it to purchase shares, or even attempt to bet against the company.
Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.
If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading — either way, it allows you to profit from the share price decline.
Read Also:
• Stocks Rebound, Eli Lilly Jumps To 14-Month Highs: What’s Moving Markets Wednesday?
Image: Shutterstock
Posted In: BE
