Shares of Bloom Energy Corp (NYSE:BE) hit new highs Wednesday, jumping over 20% after the company delivered a blockbuster third-quarter earnings report.
- BE shares are testing new highs. Check the analyst take here.
What To Know: The clean energy firm announced third-quarter revenue of $519.05 million, handily beating analyst estimates of $424.98 million and representing a 57.1% increase year-over-year. Bloom also reported adjusted earnings of 15 cents per share, beating expectations of 9 cents per share.
CEO KR Sridhar cited “powerful tailwinds” for the strong performance, including surging electricity demand driven by artificial intelligence and key strategic partnerships with companies like Oracle and Brookfield Asset Management. The company ended the quarter with a strong cash position of approximately $595 million.
Following the report, several Wall Street firms reiterated positive outlooks while significantly raising price targets.
- JPMorgan maintained its Overweight rating, raising its price target from $90 to $129.
- Susquehanna maintained its Positive rating, lifting its target from $105 to $157.
- BTIG maintained a Buy rating, increasing its target from $80 to $145.
Benzinga Edge Rankings: Reflecting its powerful surge, Bloom Energy also scores an exceptional 99.62 for Momentum according to Benzinga Edge Rankings.
BE Price Action: Bloom Energy shares were up 21.77% at $137.95 at the time of publication on Wednesday. The stock is making new all-time highs on Wednesday, according to Benzinga Pro data.
Read Also: Bloom Energy Stock Surges Nearly 17% In Wednesday Pre-Market: What’s Going On?
How To Buy BE Stock
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 off of the share price decline.
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