Bloom Energy Corp (NYSE:BE) shares are up on Friday as the stock rebounds from recent volatility following a new credit agreement announced in late December.
The stock is moving higher while the broader market is experiencing modest gains, with the S&P 500 up approximately 0.2%, adding to the positive sentiment around clean energy stocks.
The Catalyst
Bloom Energy recently announced it has entered into a new credit agreement with Wells Fargo Bank, establishing a $600 million senior secured multicurrency revolving credit facility that matures in December 2030.
The company plans to use the proceeds from this facility to finance working capital, capital expenditures, and potential acquisitions, which is expected to bolster its balance sheet as it scales operations.
Despite this positive development, the stock has seen a decline of 12% over the past month, retreating significantly from its 52-week high of $147.86 reached earlier in 2025. Support levels appear to be forming around the $88 mark, which, if breached, could lead to further declines, while holding above this level may provide a base for a rebound.
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Technical Analysis
The stock is currently trading 9.8% below its 100-day simple moving average (SMA) and 4.1% below its 200-day SMA, indicating a bearish trend in the short to medium term. Over the past 12 months, shares have surged approximately 306.97%, reflecting strong long-term momentum, and are currently positioned closer to their 52-week highs than lows.
The RSI is at a neutral level, suggesting that the stock is neither overbought nor oversold at this time. Meanwhile, MACD is below its signal line, indicating bearish pressure on the stock.
The combination of neutral RSI and bearish MACD suggests mixed momentum.
- Key Support: $88.00
Section: Earnings & Analyst Outlook
Investors are looking ahead to the company’s next earnings report on Feb. 26, with analysts expecting earnings per share of 24 cents, down from 43 cents from the same quarter last year and revenue of $644.13 million, up from $572.39 million from the same quarter last year.
Analyst Consensus: Hold Rating ($78.95 Avg Price Target)
Top ETF Exposure
- iShares Global Clean Energy ETF (NASDAQ:ICLN): 9.38% Weight
- First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN): 6.91% Weight
- SPDR S&P Kensho Clean Power ETF (NYSE:CNRG): 7.82% Weight
Significance: Because BE carries such a heavy weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
BE Price Action: Bloom Energy shares were up 10.3% at $95.84 at the time of publication on Friday, according to Benzinga Pro data.
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