On November 5, Bloom Energy Corp fell 4.3% in Pre-Market Trading, trading at $193.39 per share with turnover of $4.7784 million.

The move followed a short-term pullback after a recent rating upgrade to overweight and a $289 price target had already been digested by the market.

Earlier reports said the upgrade was tied to a faster-than-expected demand inflection. Customer deposits rose from $78 million at the end of the prior year to $661 million by the third quarter, including roughly $300 million of sequential increase in the quarter alone. Using a typical 10% customer deposit assumption, that implies underlying contract value of at least $3 billion. The company had also recently reported third-quarter revenue of $1.236 billion and adjusted EPS of $0.94, both above expectations, while raising full-year guidance.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)