In the latest market close, Bloom Energy (BE) reached $22.51, with a -1.7% movement compared to the previous day. The stock fell short of the S&P 500, which registered a loss of 1.07% for the day. At the same time, the Dow lost 0.97%, and the tech-heavy Nasdaq lost 1.19%.

Shares of the developer of fuel cell systems witnessed a loss of 16.58% over the previous month, trailing the performance of the Oils-Energy sector with its loss of 8.22% and the S&P 500's loss of 0.36%.

The investment community will be paying close attention to the earnings performance of Bloom Energy in its upcoming release. On that day, Bloom Energy is projected to report earnings of $0.30 per share, which would represent year-over-year growth of 328.57%. At the same time, our most recent consensus estimate is projecting a revenue of $515.21 million, reflecting a 44.35% rise from the equivalent quarter last year.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.08 per share and a revenue of $1.42 billion, indicating changes of +180% and +6.23%, respectively, from the former year.

Investors might also notice recent changes to analyst estimates for Bloom Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.37% increase. At present, Bloom Energy boasts a Zacks Rank of #3 (Hold).

In the context of valuation, Bloom Energy is at present trading with a Forward P/E ratio of 296.35. This represents a premium compared to its industry's average Forward P/E of 24.53.

Also, we should mention that BE has a PEG ratio of 11.85. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Alternative Energy - Other industry had an average PEG ratio of 1.89 as trading concluded yesterday.

The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 79, placing it within the top 32% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Bloom Energy Corporation (BE) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research