Shares of fuel cell company Bloom Energy (NYSE:BE) bounced hard off of yesterday's 5% decline and are already up more than 9% as the clock ticks toward 10 a.m. EDT. Curiously, however, while there was an arguably good reason for investors to be selling Bloom stock yesterday (i.e., insiders selling their shares), today there is ... nothing.
There are crickets in Bloom Energy's news feeds this morning, but not a chirp of news, either good or bad. Analysts are similarly silent. For that matter, there doesn't seem to be anything much going on anywhere in the fuel cell space this morning, with no news on Plug Power, Ballard Power, or FuelCell Energy, either.
But that could soon change. Just one week from today -- Tuesday, July 28 -- Bloom Energy is scheduled to report its financial results for fiscal Q2 2020. What will it report? Right now, analysts aren't overly optimistic, forecasting a $0.27 per share loss (twice what Bloom lost a year ago) and sales down 27% year over year at $171.5 million.
The good news? That's a pretty low bar to clear. Anything less than absolutely miserable results could be considered a "win" for Bloom Energy, and with stock market traders in a gambling mood of late, it looks like some of them are willing to place a wager on Bloom today.