#3 - Bloom Energy (NYSE:BE)
Bloom Energy (NYSE: BE) is another company that stands to benefit from the DOE programs announced in June. But that alone makes it hard to account for a stock that has gained nearly 40% in the last month. Bloom is not directly linked to Nikola like FuelCell would be. Bloom’s solid oxide fuel cells are used to generate power on site.
However, Bloom Energy does serve many of the key technology sectors that are growing in this environment including cloud services and data centers. That need is only going to increase. Like many companies in this space, Bloom is not yet profitable. Analysts are forecasting the company to post a loss of 33 cents per share when it reports earnings on July 28.
Nikola is drawing attention to the possibilities of hydrogen. Which means that it could be a tide that lifts many companies in this sector, including Bloom Energy. As part of a larger hydrogen infrastructure play, Bloom Energy merits consideration in this space.
About Bloom Energy
Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.
Read More - Current Price
- $24.12
- Consensus Rating
- Hold
- Ratings Breakdown
- 10 Buy Ratings, 12 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $22.45 (6.9% Downside)
