In the latest market close, Bloom Energy (BE) reached $25.06, with a -1.65% movement compared to the previous day. This move lagged the S&P 500's daily loss of 1.11%. On the other hand, the Dow registered a loss of 0.42%, and the technology-centric Nasdaq decreased by 1.89%.

The developer of fuel cell systems's stock has dropped by 4.14% in the past month, exceeding the Oils-Energy sector's loss of 11.62% and lagging the S&P 500's loss of 1.7%.

The upcoming earnings release of Bloom Energy will be of great interest to investors. It is anticipated that the company will report an EPS of $0.30, marking a 328.57% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $515.21 million, indicating a 44.35% increase compared to the same quarter of the previous year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Bloom Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 8.52% higher. Currently, Bloom Energy is carrying a Zacks Rank of #3 (Hold).

In terms of valuation, Bloom Energy is currently trading at a Forward P/E ratio of 72.8. This expresses a premium compared to the average Forward P/E of 17.89 of its industry.

We can additionally observe that BE currently boasts a PEG ratio of 2.91. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Alternative Energy - Other was holding an average PEG ratio of 1.84 at yesterday's closing price.

The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 82, finds itself in the top 33% 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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