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Tag: Bloom Energy

  • Bloom Energy (BE) Stock Soars After Positive Q3 2024 Results

    Bloom Energy (BE) Stock Soars After Positive Q3 2024 Results

    Following the release of its Q3 2024 financial results, Bloom Energy Corporation (NYSE: BE) shares are on a notable increase, rising 19.06% to $12.70 as of the last check. Despite reporting a 17.5% decline in revenue, amounting to $330.4 million, BE showcased a significant improvement in its operating loss, which was reduced by $94.1 million year-over-year, bringing it down to $9.7 million.

    Partnership for a Groundbreaking Fuel Cell Project

    Bloom Energy has also revealed a major initiative in collaboration with SK Eternix. Together, the two businesses have developed the biggest fuel cell power system in the world, a massive 80 MW project that should be operational by 2025.

    This creative idea will power vital infrastructure and promote regional development by supplying two ecoparks in South Korea’s North Chungcheong Province with renewable energy. It is a notable illustration of Bloom Energy’s capacity to provide data centers, particularly those that facilitate artificial intelligence (AI) operations, with enormous amounts of electricity.

    As per the agreement, Bloom Energy will manage and maintain the equipment in addition to providing its state-of-the-art solid oxide fuel cell (SOFC) technology. The project financing, led by Korea Development Bank, marks a historic achievement, representing the largest fuel cell project financing in South Korea’s history.

    Expansion of Strategic AI Industry Collaborations

    In a separate development, Bloom Energy has expanded its partnership with Quanta Computer, a leading Taiwanese electronics manufacturer. The newly amended agreement will increase Quanta’s existing Bloom SOFC power capacity by over 150%.

    This expansion addresses the growing demand for AI hardware, while also mitigating potential delays in utility interconnection. Bloom Energy’s SOFC microgrids circumvent the drawbacks of conventional grid infrastructure and provide a scalable, adaptable solution that keeps up with the quick advancement of AI.

    With these calculated actions, Bloom Energy maintains its position as a major force in the clean energy industry while showcasing its technological innovation and capacity to establish beneficial international alliances.

  • Significant Collaboration Propels Bloom Energy (BE) Shares After-Hours

    Significant Collaboration Propels Bloom Energy (BE) Shares After-Hours

    After unveiling a significant collaboration deal, shares of Bloom Energy Corporation (NYSE: BE) experienced a notable surge during the after-hour trading session on Tuesday. As of the last report, BE stock rose by 14.19% on the US stock charts, reaching $17.22.

    Bloom Energy Entered A Significant Partnership

    Bloom Energy (BE) announced a strategic partnership with CoreWeave, Inc., underscoring its capability to meet the escalating energy demands of the rapidly expanding AI sector. Under this partnership, Bloom will deploy its proprietary fuel cells to generate on-site power for CoreWeave at a high-performance data center owned by Chirisa Technology Parks in Volo, Illinois.

    The cutting-edge data center is designed to support high-density deployments with advanced cooling systems, enabling CoreWeave to provide efficient and high-performance cloud solutions for AI applications. The commissioning of Bloom’s fuel cells is scheduled for the third quarter of 2025.

    Support from CoreWeave

    The confirmation from CoreWeave, a well-known leader in the AI space, highlights Bloom Energy’s cutting-edge technology and its vital role in advancing AI. The firm is well-positioned to address the energy demands of the AI sector internationally with the fuel cells that Bloom Energy has deployed at client sites across the world.

    Through their partnership with Bloom and use of their cutting-edge solid oxide fuel cell technology, CoreWeave hopes to promote environmental goals while providing its clients with outstanding performance and dependability.

    BE On Track to Global Expansion

    During the Indo-Pacific Economic Framework (IPEF)-hosted 2024 Clean Economy Investor Forum, Bloom Energy and Sembcorp Industries (Sembcorp) announced a ground-breaking strategic partnership.

    As part of this agreement, Sembcorp may combine third-party carbon capture technologies with Bloom’s solid oxide fuel cell technology to provide dependable, low-carbon electricity for Singapore’s changing energy demands.

    It is anticipated that this partnership would have a significant impact and strengthen Singapore’s position as a center for high-tech manufacturing. By combining established carbon capture technology with BE’s fuel cells, Singapore can get closer to its goal of having net-zero emissions by the year 2050.

    With this project, Bloom Energy hopes to set an example for the world and the larger area, proving that sustainable energy solutions can coexist peacefully in modern, high-tech settings.

  • The Three Best Hydrogen Stocks to Watch For in 2021

    The Three Best Hydrogen Stocks to Watch For in 2021

    Hydrogen technology is the next big thing that is part of the Go Green movement.

    In the recent few months, the emphasis on the use of hydrogen has increased with the greater significance of the technology in producing clean energy. Investors and analysts have been keenly following hydrogen stocks as they hold massive potential in the long-term.

    The key aspect to mention is the new US administration looks very focused and keen to work on clean energy development. For that reason, hydrogen will in the top priority list to be among the future tech to be used in the production of green and clean energy. We have already seen various organizations expanding their hydrogen ecosystem.

    So, it’s not surprising that hydrogen stocks are catching the headlines. The future lies in this technology. Let’s see the three best hydrogen stocks that hold the most potential.

    Bloom Energy (BE)

    Bloom Energy (BE) is a leading manufacturer and marketer of solid oxide fuel cells and is one of the first to join the hydrogen energy race. The company sees a bright future ahead with US President’s initiative for clean energy.

    Considering the fundamentals, Bloom Energy looks solid with its cash position of $416.7 million, as of September 30, 2020. Whereas, the company ended last year with a debt reduction of $180.1 million, which now stands at $527.1 million of debt. The cash is still lower than the total debt, but the decrease in its debt shows that the company is moving in the right direction.

    By the end of the last quarter of 2020, the company reported a revenue of $249.4 million, an increase of 16.8% year-over-year. Four different investor events coming up in March 2021, so investors should keenly observe what Bloom Energy has to offer—heading forward.

    Ballard Power Systems (BLDP)

    Ballard Power Systems (BLDP) is a developer and manufacturer of proton exchange membrane fuel cell products for markets and uses hydrogen as a fuel. Ballard shares have over 217% during the last year. The company has still much in power and has upside that can push the stock further this year.

    Ballard Power has some big plans for the long-term. The company anticipates its annual revenue to be around $5.2 billion by 2030. This reflects a CAGR of 46% from its 2020 expected revenue of $115 million. In the past five years, the company’s revenue has grown at an average rate of 21%.

    With the hydrogen market evolving, Ballard may have to increase its future outlook—if the market grows faster than expected. In that premise, the company has expected a 20% margin for its earnings before interest and taxes aren’t supported by a concrete plan. So, Ballard Power System (BLDP) is another key hydrogen stock to watch for in 2021.

    Nikola Corp. (NKLA)

    Nikola Corp. (NKLA) is a leading EV maker and a pioneer in the zero-emission concept. The company has jumped into the hydrogen fuel cell market. The company is popular for its hydrogen-powered truck, Nikola One, and has been part of several other hydrogen projects.

    At the beginning of 2021, the company obtained an innovative electric rate schedule with Arizona Public Service Company. Based on the following deal, Nikola will work on the development of hydrogen-based fueling solutions for the transportation industry.

    Analysts are mostly bullish on Nikola and if it continues to be successful with its hydrogen projects, it could become a potential investment option for hydrogen stock investors.

  • Early Morning Vibes: 3 Best Performing Stocks Under $3

    Early Morning Vibes: 3 Best Performing Stocks Under $3

    On December 8, American stock exchanges closed at historic highs. The S&P 500 Index climbed 0.28% to 3702 points, the Dow Jones added 0.35%, the NASDAQ rose 0.5%. The purchases spurred hope for fiscal stimulus, as well as the start of the UK vaccine distribution. The health and energy sectors were the top gains, rising 0.73% and 1.57%, respectively. The real estate segment turned out to be an outsider, losing 0.5%.

    Corporate news

    Tesla (TSLA: + 1.3%) announced a $ 5 billion additional share issue.

    Productivity software maker Smartsheet (SMAR: + 11%) reported strong quarterly results and improved management forecasts.

    Apparel retailer Stitch Fix (SFIX: + 39%) posted a good quarterly report, with a pleasant surprise for investors the company’s profit at a consensus loss.

    Today, world stock markets are showing mostly positive dynamics. The likelihood of accepting an economic aid package is increasing. The day before, Treasury Secretary Stephen Mnuchin presented House Speaker Nancy Pelosi a $ 916 billion economic support bill. Unlike the bipartisan stimulus package last week, the bill provides for a one-time payment of $ 600 to each citizen instead of $ 300 weekly in addition to the unemployment. Republican leaders have already expressed support for Mnuchin’s bill. We believe that the congressmen have not yet been so close to a compromise in the past few months, and this is encouraging.

    Another supportive factor was a report released by the FDA that the Pfizer / BioNTech anticancer vaccine is completely safe and highly effective. The probability of its approval on December 10 is close to 100%, and on the 11th, the distribution of the drug in the United States may begin. We estimate the risk that the pharmaceutical giant will face difficulties in mass production of the vaccine as minimal, although not zero.

    Today Top Movers Under $3

    Cinedigm Corp (CIDM) is up 50.35% at $1.30 in early morning on Wednesday after

    Spherex revealed a strategic alliance with Cinedigm (NASDAQ: CIDM) to drive Cinedigm’s global growth.

    Usio Inc (USIO) is up 38.80% in Wednesday’s premarket session after reporting that it has entered into a non-binding Letter of Intent (LOI) to acquire the assets of Information Management Solutions, LLC (IMS).

    Recon Technology Ltd (RCON) was taking the aerial route in the after-market session as it surged 95.8% to $2.82, after a China-based independent solutions integrator in the oilfield service and environmental protection, electric power, and coal chemical industries, today announced its financial results for the fiscal year 2020.

    Top Upgrades & Downgrades

    JP Morgan turned bullish on Array Technologies Inc. (ARRY), upgrading the stock to “Overweight” and assigning a $41.0 price target.

    Community Trust Bancorp Inc. (CTBI) has won the favor of Piper Sandler’s equity research team. The firm upgraded the shares from Neutral to Overweight.

    Earlier Wednesday JP Morgan reduced its rating on Bloom Energy Corporation (BE) stock to Neutral from Overweight and assigned the price target to $26.0. With shares trading at around $30.59, the Wall Street firm thinks Bloom Energy Corporation’s stock could decline more than -62.5%.

    DZ Bank analysts reduced their investment ratings, saying in research reports covered by the media that its rating for American Express Company (AXP) has been changed to Hold from Buy and the new price target is set at $128.0.

    Analysts at KeyBanc downgraded Talos Energy Inc. (TALO)‘s stock to Sector Weight from Overweight Wednesday.

    Latest Insider Activity

    Freeport-McMoRan Inc. (FCX) Vice Chairman, President & CEO ADKERSON RICHARD C announced the sale of shares taking place on Dec 04 at $25.17 for some 467,887 shares. The total came to more than $11.78 million.

    Discovery Inc. (DISCA) Director LOWE KENNETH W sold on Dec 04 a total 1,202,403 shares at $25.22 on average. The insider’s sale generated proceeds of almost $2.32 million.

    Regulus Therapeutics Inc. (RGLS) 10% Owner Sonsini Peter W. declared the purchase of shares taking place on Dec 04 at $0.62 for some 4,398,602 shares. The transaction amount was around $2.74 million.

    Hepion Pharmaceuticals Inc. (HEPA) CEO and Director Foster Robert T bought on Dec 08 a total 25,259 shares at $1.58 on average. The purchase cost the insider an estimated $39,418.

    Earnings To Watch Today

    Top US earnings releases scheduled for today include Asana Inc. (NYSE:ASAN). It will announce its Oct 2020 financial results. The company is expected to report earnings of -$0.37 per share from revenues of $54.14M in the three-month period.

    Analysts expect Mesa Air Group Inc. (NASDAQ:MESA) to report a net income (adjusted) of -$0.02 per share, when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Sep 2020 is predicted to come in at $92.95M.

    Adobe Inc. (ADBE), due to announce earnings after the market closes today, is expected to report earnings of $2.66 per share from revenues of $3.36B recently concluded three-month period.