Bloom Energy (BE) shares rallied 6.5% in the last trading session to close at $10.91. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.9% loss over the past four weeks.

Bloom Energy is a trusted partner in delivering low-carbon energy and is a leader in solid oxide fuel cell technology, having demonstrated 60% electrical efficiency using hydrogen, and 90% combined heat and power efficiency. The company is experiencing high levels of commercial interest in its products and solutions.

Electricity demand is expected to increase as energy intensive industries like data centers and advanced manufacturing continue to place increased electricity demand on the grid. Bloom Energy’s carbon-free hydrogen fuel cell enables 24X7 clean power supply and plays a vital role to reduce carbon emissions and strain on the congested grid.

This developer of fuel cell systems is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -40%. Revenues are expected to be $388.56 million, down 2.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For Bloom Energy, the consensus EPS estimate for the quarter has been revised 20% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on BE going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Bloom Energy is a member of the Zacks Alternative Energy - Other industry. One other stock in the same industry, Enovix Corporation (ENVX), finished the last trading session 0.1% higher at $8.45. ENVX has returned -17.5% over the past month.

For Enovix Corporation , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.20. This represents a change of -5.3% from what the company reported a year ago. Enovix Corporation currently has a Zacks Rank of #4 (Sell).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Bloom Energy Corporation (BE) : Free Stock Analysis Report

Enovix Corporation (ENVX) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research