Bloom Energy Corp (BE) Stock Price and Forecast: Surges despite Morgan Stanley downgrade


  • NYSE:BE gained 8.55% on Wednesday as shares popped alongside its rivals.
  • Morgan Stanley downgraded Bloom on Tuesday but the stock was unaffected.
  • A new partnership in Europe for one of Bloom’s biggest rivals paced the sector this week. 

NYSE:BE rallied on Wednesday as the stock was able to shake off an analyst downgrade from Morgan Stanley given the day before. Shares jumped by 8.55% during the trading session and screamed to a new 52-week high price of $38.95 before settling back down to close the day at $38.71. The new high price represents a near 1200% gain over the past year as the stock has a low price during that same time period of only $3.00 per share. 

Morgan Stanley was certainly one Wall Street firm not buying into Bloom’s stock price continuing to skyrocket. The investing behemoth cited that while Bloom’s performance and growth as a company have been impressive, the stock has already run too high too fast. Morgan Stanley downgraded its status to 'equal weight' and a price target of $34.00, which represents a 12% downside to the stock’s price from Wednesday. Bloom investors seemed unaffected by the downgrade as was seen by its performance on the day after the report was made public. 

BE stock news

Bloom

Bloom also saw one of its bigger rivals in Plug Power (NASDAQ:PLUG) striking a new deal with European automaker Renault to put Plug’s fuel cells into their new commercial vans. PLUG responded by also powering to a new all-time high hitting $73.90 on Wednesday, which is an incredible 3600% increase over the past 52-weeks. Investors who got in early with both Plug and Bloom are certainly reaping the rewards in 2021. 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News


Latest Forex News

Editors’ Picks

EUR/USD hits fresh one-month low amid souring market mood

EUR/USD has been extending its falls and dips below 1.21 as US retail sales badly disappointed and the worsening mood is supporting the safe-haven dollar. Markets digest Biden's stimulus plan. US Consumer Sentiment declined to 59.2 points. 

EUR/USD News

GBP/USD retreats toward 1.36 amid fresh dollar strength

GBP/US has pared its gains and falls toward 1.36 as the dollar gains ground. The UK economy shrank by 2.6% in November, better than estimated. The UK is ramping up its vaccination campaign and PM Johnson is pressured to ease the lockdown. 

GBP/USD News

Gold extends sideways grind near $1,850

The XAU/USD pair registered small daily gains on Thursday but struggled to extend its recovery amid a lack of significant fundamental drivers on Friday. As of writing, the pair was up 0.15% on a daily basis at $1,849.

Gold news

Forex Today: Markets “sell the fact” on Biden's stimulus, dollar rises, retail sales eyed

Markets are on the back foot after Biden hinted about tax hikes while introducing stimulus. The safe-haven dollar is edging higher despite Powell's pledge to keep monetary policy accommodative. 

Read more

DXY breaks above key downtrend, eyes move above 91.00

USD has been strongly supported on what has shaped up to be a very much risk off final trading day of the week. Most G10/USD pairs have seen significant weakness, aside from CHF/USD and JPY/USD, given that the two currencies are also considered “safe havens”.

US Dollar Index News

Forex MAJORS

Cryptocurrencies

Signatures