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Bloom Energy Corp (NYSE:BE) shares are trading lower Thursday afternoon, pausing after a volatile two-week stretch that saw the fuel-cell maker hit record highs and then price a convertible debt offering.
The pullback comes as risk sentiment weakens on Wall Street following cautious comments from Federal Reserve officials and renewed worries about the economic outlook.
What To Know: The stock had ripped higher in late October after Bloom reported blockbuster third-quarter results, highlighted by revenue of about $519 million and roughly 57% year-over-year growth.
Earnings topped expectations, and management pointed to "powerful tailwinds" from surging electricity demand tied to artificial intelligence and new data-center partnerships. Several analysts responded by reiterating bullish ratings and sharply raising price targets.
Momentum extended into early November as Bloom upsized a private offering of zero-coupon convertible senior notes due 2030 to roughly $2.5 billion and launched concurrent exchanges of existing 2028 and 2029 notes for cash and stock. With net proceeds earmarked for refinancing and growth investments, investors had largely cheered the move.
Thursday’s decline likely reflects profit-taking after year-to-date gains of over 300% and a broader rotation out of higher-beta names, rather than any new company-specific negative catalyst for Bloom Energy.
Benzinga Edge Rankings: According to Benzinga Edge rankings, Bloom Energy still carries a stellar momentum score of 99.69 out of 100, underscoring the stock's powerful uptrend despite Thursday's pullback.
BE Price Action: Bloom Energy shares were down 19.35% at $102.20 at the time of publication on Thursday, according to Benzinga Pro data.
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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.
In the case of Bloom Energy, which is trading at $102.20 as of publishing time, $100 would buy you 0.98 shares of stock.
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 off of the share price decline.
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Posted In: BE
