BE market-structure snapshot

$BE: multi-source stock research

BLOOM ENERGY CORPORATION

MARKET STRUCTURE

Latest close on July 27, 2026: $188.83 (+2.1% on the latest daily bar).

HMA21 / HMA55: $193.20 / $229.03. 200DMA: $176.86.

Relative volume: 0.83x the 20-day average.

Nearest support/watch zone: $176.57.

Nearest resistance/watch zone: $197.50.

Price is above the 200DMA, so the long-term trend reference is supportive.

FUNDAMENTALS AND VALUATION

Latest comparable filing period: 2026 Q1 ending 2026-03-31; filed 2026-04-29.

Comparable growth: revenue +133.8% YoY; net income +0.1% YoY; diluted EPS -330.0% YoY.

Quality and cash conversion: quarterly SEC free-cash-flow proxy $47.43M (+138.0% YoY).

Valuation snapshot: forward P/E 41.5x; EV/EBITDA 229.2x; P/S 21.9x.

Read-through:
• Revenue grew faster than net income, so earnings conversion remains the key quality question.
• Diluted EPS growth lagged net-income growth, making share-count effects worth monitoring.
• Cash conversion moved from negative to positive on the SEC proxy.

RECENT INSTITUTIONAL RESEARCH

• 2026-07-14 — New framework for U.S. power trading: BTM, FTM, BYOG, Bloom’s speed advantage, Fervo’s cost potential (Bernstein)

Bernstein proposed three differentiated power supply frameworks, BTM, FTM, and BYOG, to analyze the power transactions of ultra-large-scale users of Bloom Energy, Fervo Energy, and Ormat Technologies.

Bloom's LCOE is US$85-115/MWh, which depends on the speed of deployment in the short term; Fervo will be competitive if it reaches the cost target of US$3,000/kWh; Ormat is difficult to scale due to its geothermal transformation model. Rates Bloom Market Perform, Fervo Outperform, and Ormat Underperform.

BOTTOM LINE

The technical structure is mixed, while the latest comparable period showed growth in both revenue and net income. The next confirmation must come from both price structure and the next reported operating data—not from narrative alone.

WHAT TO WATCH

• A reclaim of HMA21 near $193.20 would be the first meaningful stabilization signal.
• A close below the nearby support zone around $176.57 would weaken the setup.
• Whether the next filing confirms that revenue growth is converting into net income, EPS and cash flow.
• Whether the operating milestones identified in recent institutional research become measurable disclosures.

Research and technical observation only; not a trade recommendation.

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