New York, Feb 9, 2026, 11:29 EST — Regular session
- Bloom Energy shares climbed roughly 7% during late-morning hours, handily beating gains in the broader U.S. market.
- Mizuho bumped its price target up to $110, though the firm stuck with a Neutral rating. The bank pointed to anticipated improvements in margins.
- Attention now turns to Bloom’s ability to convert its backlog into actual shipments—and keep cash flowing through 2026.
Bloom Energy Corp climbed roughly 7% to $152.98 as of 11:29 a.m. EST on Monday. The stock bounced between $141.37 and $156.93, with trading volume reaching about 5.3 million shares.
The fuel-cell maker has turned into something of a bellwether for investors tracking efforts to boost power supply for data centers, now pushing electric grids to their limits in parts of the U.S. Bloom’s lineup includes solid oxide fuel-cell systems and electrolyzers. Its sales pitch? On-site power, aimed squarely at customers unwilling to wait for lengthy transmission upgrades or new interconnections. 1
The trade’s gotten jumpy. Investors wrestling with surging AI infrastructure demand versus what factories can actually deliver, from output to cost to schedules, are seeing a single broker note shift the stock.
Mizuho’s Maheep Mandloi bumped his price target on Bloom up to $110 from $89, maintaining a Neutral rating, TheFly reported. Mandloi cited expected gross margin gains in 2026—gross margin being what’s left of revenue after production costs—and said he was “impressed” by the improvements. He flagged increased capacity utilization and cost reductions, both supported by better order visibility. 2
Bloom reports both GAAP and non-GAAP results—non-GAAP numbers strip out certain expenses. On Feb. 5, the company posted fourth-quarter revenue of $777.7 million, with non-GAAP diluted earnings at $0.45 per share. Looking ahead, Bloom projects 2026 revenue in the $3.1 billion to $3.3 billion range and sees non-GAAP earnings between $1.33 and $1.48. Total current backlog stands near $20 billion, with the product backlog at about $6 billion. CEO K.R. Sridhar put it bluntly: “bring-your-own-power has shifted from a slogan to a business necessity.” 3
Fuel-cell stocks showed a mixed picture Monday. FuelCell Energy advanced almost 4%. Plug Power tacked on about 1%. Ballard Power barely moved. The S&P 500 and the Nasdaq-linked ETF QQQ each gained less than 1%.
Investors want to see whether the guidance leads to consistent shipments rather than just swelling the pipeline. Margin is key here—better factory utilization could boost it, though that also means less buffer if supply hiccups or delays from customers crop up.
Still, there’s risk on both sides. Bloom’s fortunes hinge on just a handful of big projects making it through the financing and construction pipeline. If data-center clients slow their spending, revenue could get delayed—leaving those recently raised expectations exposed.
The company’s upcoming quarterly report lands May 6, per Investing.com’s earnings calendar. 4
