5 Best Green Energy Stocks To Buy

4. Bloom Energy Corporation (NYSE:BE)

Number of Hedge Fund Holders: 29

Stock Price Change Over the Past Six Months as of November 17: +43%

Bloom Energy Corporation (NYSE:BE) is a San Jose, California-based manufacturer and seller of solid oxide fuel cells that produce electricity on-site.

Sophie Karp at KeyBanc resumed coverage on Bloom Energy Corporation (NYSE:BE) with an Overweight rating and a target price of $30 in a research note issued to investors on June 1. Bloom Energy Corporation (NYSE:BE) has an attractive growth outlook and an opportunity to achieve an inflection point for its margins. The company also offers upside through its electrolyzer optionality.

Although Bloom Energy Corporation (NYSE:BE) missed gross margin expectations for Q1 2022, it is expected to meet the estimates for 2022. A Bloomberg report revealed that Ferrari NV would be utilizing Bloom Energy Corporation’s (NYSE:BE) fuel cells to lower emissions. The installation would be at Ferrari’s Italian manufacturing center and act as an entry point for Bloom Energy Corporation (NYSE:BE) in the European region. The company also reported solid Q1 2022 revenues due to strong deliveries to its strategic partner in South Korea.

Bloom Energy Corporation (NYSE:BE) was held by 29 hedge funds at the end of Q1 2022.