On July 27, Bloom Energy Corp rose 4.4% overnight, trading at $192.09 per share, with turnover of $85,300. The stock gained momentum ahead of its quarterly earnings report scheduled for July 28 after market close, with consensus EPS estimate at $0.23.
Multiple catalysts converged to support the rally. Brookfield and Bloom Energy expanded their AI infrastructure partnership to $25 billion, representing a fivefold increase in construction and financing scale aimed at rapidly powering AI infrastructure. Additionally, the Industrial Development Fund and Oaktree Capital announced a $1.7 billion investment in Bloom Energy fuel cell technology to support Nebius AI infrastructure expansion.
Institutional sentiment remained constructive, with UBS maintaining a buy rating and $350 price target, arguing that scandium sourcing concerns are overstated. RBC also noted that short-seller analyses rely on outdated reference material. After digesting earlier short-selling pressure from Hunterbrook Media, which the company rejected as false and misleading in an SEC filing, pre-earnings buy-back covering drove the rebound.
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