What Happened?
A number of stocks fell in the morning session after the latest industrial production report showed slower-than-expected growth for July. Data from the Federal Reserve indicated that U.S. industrial production rose by 0.2%, which was half of the 0.4% increase that analysts polled by The Wall Street Journal had anticipated. While this marked the second consecutive month of growth, it represented a slowdown from the previous month's revised figures. Manufacturing output also saw a modest 0.2% increase. This weaker-than-forecast data can raise concerns among investors about cooling economic activity and potentially softening demand for manufactured goods, which directly impacts the outlook for companies across the industrial sector.
The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks.
Among others, the following stocks were impacted:
- Renewable Energy company Fluence Energy (NASDAQ: FLNC) fell 7.9%. Is now the time to buy Fluence Energy? Access our full analysis report here, it’s free.
- Renewable Energy company Bloom Energy (NYSE: BE) fell 11%. Is now the time to buy Bloom Energy? Access our full analysis report here, it’s free.
- Aerospace company Redwire (NYSE: RDW) fell 5.2%. Is now the time to buy Redwire? Access our full analysis report here, it’s free.
- Energy Products and Services company Ameresco (NYSE: AMRC) fell 9.2%. Is now the time to buy Ameresco? Access our full analysis report here, it’s free.
- Electrical Systems company GE Vernova (NYSE: GEV) fell 5.3%. Is now the time to buy GE Vernova? Access our full analysis report here, it’s free.
Zooming In On Bloom Energy (BE)
Bloom Energy’s shares are extremely volatile and have had 97 moves greater than 5% over the last year. But moves this big are rare even for Bloom Energy and indicate this news significantly impacted the market’s perception of the business.
The previous big move we wrote about was 28 days ago when the stock gained 12.3% on the news that JPMorgan raised its price target on the stock from $267 to $346 and maintained an "Overweight" rating, citing a strong long-term delivery outlook. The firm introduced estimates through fiscal year 2030, projecting 4.1 gigawatts in product segment deliveries. Analysts noted this forecast was supported by existing customer agreements, including a recently expanded partnership with Brookfield.
The price target hike provided a boost to the stock, which had faced pressure over the previous month following short-seller reports. JPMorgan highlighted that Bloom Energy's recent updates helped address concerns regarding its supply of scandium, a critical material.
The available supply can reportedly support up to 25 gigawatts of annual manufacturing. Analysts also expected the company to provide more details regarding its supply chain in the near future.
Additionally, the firm pointed out that challenges with data center connections to utility grids ahead of the U.S. elections could benefit off-grid energy providers like Bloom Energy. The optimistic commentary came just days before the company was scheduled to release its second-quarter earnings.
Bloom Energy is up 110% since the beginning of the year, but at $207.18 per share, it is still trading 32.7% below its 52-week high of $307.88 from May 2026. Investors who bought $1,000 worth of Bloom Energy’s shares 5 years ago would now be looking at an investment worth $10,131.
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