Why Shares of Bloom Energy Are Crashing Today
It's shaping up to be another down day in the markets. The dour overall market sentiment, however, is hardly the only factor contributing to the precipitous decline that shares of Bloom Energy (NYSE: BE) are experiencing this morning. The main factor pushing investors to exit their positions in the hydrogen stock is the company's surprisingly poor first-quarter 2022 earnings report, which was released after the market closed yesterday.
As of 10:25 a.m. ET, shares of Bloom Energy have fallen 17.9%.
Failing to meet analysts' expectations that the company would book Q1 sales of $216.5 million, Bloom Energy announced that it generated $201 million on the top line. But the shortcoming on the top of the income statement, in all likelihood, isn't the main thing electrifying the bears' pessimism. Instead, it's the company's shortcoming on the bottom line that's likely motivating the sell-off. Whereas the consensus among analysts was that the company would report a $0.10 loss per share, the company reported a loss per share of $0.44.
Source Fool.com
