Bloom Energy (BE) is a provider of cell systems of solid-oxide. Recently, they have witnessed a revival owing to the momentum from electric vehicle (EV) that has resulted in price inflation of EVs and their fuelling and materials stocks like Plug Power, FuelCell Energy, and Ballard Systems.
Although these factors are driving up the shares with the amazing S&P-500 Index, investors are advised to remain alert. You must remember that these stocks are selling a dream and the hype maybe just be to fuel the interest of the stock market. Investors must wait till BE stock pullback more before investing.
Transactions Of BE Stock
Bloom Energy stock released their FY2020 Q3 earnings showing a loss of a -$0.04 EPS. Revenues declined -10.7% on an annualized basis at $200.31 million.
K.R.Sridhar, the CEO, has said that they have reduced their debt, interest expense, added cash for the balance sheet, and prolonged maturities. He disclosed the power tower of 8.35 MW in Korea that has 98.7% uptime and 57.4% installation efficiency. With the help of the bond offering of convertible green, BE raised financing of $230 M.
The company owns $60 million cash and has reduced its yearly debt of $44 million with $57.7 million remaining. They have a 40% profit margin and expect good profit within 2022.
The Fibonacci level of BE stock is $27.93 while monthly MSL was at $6.50 in 2020 April. The monthly moving average of 5-period increased to a level of $19.84 fib. The monthly BB was $27.56 and weekly was $27.80. There might be a pullback at the levels of $18.51fib, $19.84fib, $21.47fib, and $23.32fib.