Why are Bloom Energy shares trading lower?

Bloom Energy Corp (NYSE:BE) shares are trading lower by roughly 3.29% to $16.44 during Thursday’s session after the company announced a private offering of $250 million green convertible senior notes due 2029 to qualified institutional buyers. The company may also sell an additional $37.5 million in notes.

Is Bloom (Bloom) a good stock to buy?

YTD, 10.07%. Bloom has a SA Quant Rating — which takes into account factors such as Momentum, Profitability, and Valuation among others — of Hold. The stock has a factor grade of D- for Profitability and A+ for Growth. The average Wall Street Analysts' Rating disagrees and has a Buy rating, wherein 8 out of 25 analysts tag the stock as Strong Buy.

What does Bloom Energy do?

Bloom Energy produces fuel-cell servers that generate on-site electricity, enabling customers to reduce reliance on the traditional power grid. The company uses a solid oxide platform to convert natural gas, biogas, or hydrogen into electricity without combustion, resulting in low or no CO2 emissions.