In the latest market close, Bloom Energy (BE) reached $22.65, with a +1.57% movement compared to the previous day. This change lagged the S&P 500's 1.83% gain on the day. Meanwhile, the Dow gained 1.65%, and the Nasdaq, a tech-heavy index, added 2.45%.

Prior to today's trading, shares of the developer of fuel cell systems had lost 9.97% over the past month. This has lagged the Oils-Energy sector's loss of 7.35% and the S&P 500's loss of 3.31% in that time.

The investment community will be closely monitoring the performance of Bloom Energy in its forthcoming earnings report. The company is predicted to post an EPS of $0.31, indicating a 342.86% growth compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $518.51 million, up 45.27% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Bloom Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 21.15% higher. Currently, Bloom Energy is carrying a Zacks Rank of #2 (Buy).

In terms of valuation, Bloom Energy is presently being traded at a Forward P/E ratio of 61.26. This indicates a premium in contrast to its industry's Forward P/E of 17.5.

We can additionally observe that BE currently boasts a PEG ratio of 2.45. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. BE's industry had an average PEG ratio of 1.86 as of yesterday's close.

The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 72, finds itself in the top 29% echelons of all 250+ industries.

The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

You can find more information on all of these metrics, and much more, on Zacks.com.

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