Benzinga | Sep 18, 2020 11:08AM EDT

Why Bloom Energy's Stock Is Trading Higher Today

Bloom Energy (NYSE:BE) shares are trading higher on Friday after Morgan Stanley maintained an Overweight rating and raised its price target from $21 to $23.

Bloom Energy Corp is engaged in providing electric power solutions. The solution of the company includes bloom energy server which is a stationary power generation platform to provide uninterrupted power. It earns revenue from sale and installation of its energy servers to direct and lease customers, provides services under its operations and maintenance contracts, and by selling electricity to customers under PPA agreements.

Bloom Energy shares were up 16.43% at $16.94 at the time of publication on Friday. The stock has a 52-week high of $19.67 and a 52-week low of $2.44.