What's Going On With Bloom Energy's Stock?

Bloom Energy Corporation BE shares are trading higher Wednesday, and the stock is up more than 30% over the past five days. Here's a look at what's going on. 

The Details:

Last week, Bloom announced a collaboration with C3.ai, Inc. AI to implement AI-based solutions to broaden the scope and precision of Bloom’s product monitoring technology. 

Bloom will use the C3 AI Reliability Suite to enhance operations, improve reliability and maximize energy output of its fuel cell servers. AI-based insights will also provide recommendations to Bloom’s remote monitoring teams to improve fuel-cell server performance. 

"We are committed to driving innovation, reducing costs, and maximizing the potential of our fuel cell platform to deliver world class solutions to our customers,” said KR Sridhar, CEO of Bloom Energy. “This collaboration marks another step towards delivering on our vision to make clean, reliable energy affordable to everyone in the world.” 

On Monday, Wells Fargo maintained its Equal-Weight rating on Bloom Energy and raised the price target from $12 to $14. RBC Capital analyst Chris Dendrinos reiterated Bloom with an Outperform Tuesday and maintained a $14 price target on the stock.

Bloom Energy shares are climbing on heavy trading volume Wednesday. According to data from Benzinga Pro, more than 10.5 million shares have changed hands in the session and 28.64% of shares are being sold short. 

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Is BE A Good Stock To Buy?

Wall Street analysts view Bloom Energy on the whole as a Outperform, given the history of coverage over the past three months. Jeffrey Osborne from TD Cowen in Bloom Energy is the most optimistic, expecting a 30% rise in the stock in the coming year.

But looking at how the market as a whole thinks of the stock, you can reference historical price action for views on whether investors feel strongly about the stock one way or another. In the past 3 months, Bloom Energy rose 96.49%, which indicates that opinion improved on the business and how attractive it is to own based on either its stock price, or underlying fundamentals, like revenue, which fell 14.5% over the past year.

A complete overview of how Wall Street views individual stocks is available here, while real time updates on the latest analyst actions will be delivered via Benzinga PRO. Try it for free.

BE Price Action: According to Benzinga Pro, Bloom Energy shares are up13 % at $17.12 at the time of publication Wednesday.

Image: Courtesy of Bloom Energy Corporation