Bloom Energy (BE) Stock Soars on AI Power Deals and Analyst Upgrades

Bloom Energy Corporation (NYSE: BE) extended its meteoric 2025 run on Friday as investors piled into the fuel‑cell specialist again, betting that its technology will power the next wave of AI data centers.

Bloom Energy Stock Today: Another Big Move on November 28, 2025

Bloom Energy shares closed around $109 on Friday, November 28, 2025, up roughly 8% on the day from a prior close near $101. ^[1]

Key trading stats for the session:

Intraday range: roughly $102.6 – $109.3
52‑week range: about $15 – $148, reflecting a huge move off last year’s lows ^[2]
Year‑to‑date performance: various estimates now peg Bloom’s 2025 gain at 300–350%+, with one European market note citing a rise of more than 317% so far this year. ^[3]

MarketBeat’s intraday recap highlighted that BE traded about 8.3% higher on Friday, with volume running below its already‑elevated average as the stock tested fresh short‑term highs. ^[4] AInvest’s live coverage similarly flagged a 7–8% intraday rally to around $108, emphasizing the tug‑of‑war between bullish earnings momentum and concerns over insider selling. ^[5]

In short: Bloom Energy remains one of the market’s most volatile large‑cap clean‑energy names, and Friday’s session continued that pattern.

The Fundamental Engine: Q3 2025 Earnings Beat

Underpinning the latest spike is a set of blockbuster Q3 2025 results released at the end of October:

Revenue: about $519 million, up 57% year over year, and well ahead of consensus estimates in the low‑$400 million range. ^[6]
Product & service revenue: roughly $443 million, up ~56% year over year, showing broad demand across Bloom’s installed base of solid‑oxide fuel cell systems. ^[7]
GAAP gross margin: ~29–30%, up more than 5 percentage points from the prior year, reflecting scale and cost improvements. ^[8]
Operating income: turned positive (~$7.8 million) versus a ~$9.7 million loss in Q3 2024. ^[9]
Non‑GAAP operating margin: just under 9%, highlighting improving leverage as the company grows. ^[10]

Zacks and other research outlets now model 2025 sales growth of about 28–29% and earnings growth of ~90% vs. 2024, though off a small profit base. ^[11]

That earnings backdrop helps explain why Bloom has become a focal point for traders chasing the AI infrastructure theme.

AI Data Centers and the $5 Billion Brookfield Partnership

A central pillar of the bull case is Bloom’s positioning as an on‑site power provider for power‑hungry AI data centers.

Brookfield AI “Factory” Deal

In October, Bloom Energy and Brookfield announced a $5 billion strategic AI infrastructure partnership. Key points: ^[12]

Brookfield will invest up to $5 billion to deploy Bloom’s solid‑oxide fuel cell systems at next‑generation “AI factories” worldwide.
Bloom becomes the preferred on‑site power provider for Brookfield’s AI factory developments.
The first joint site is expected in Europe, with more locations planned globally.
The model is behind‑the‑meter power – electricity generated and consumed on‑site, reducing dependence on congested grids.

Utility Dive notes that Bloom already has about 1.4 GW of its systems deployed across more than 1,000 locations in nine countries, and is on track to double annual manufacturing capacity to 2 GW by the end of 2026 to meet rising AI‑related demand. ^[13]

Hyperscaler and Data Center Deals

Beyond Brookfield, Bloom has signed a string of high‑profile data‑center partnerships: ^[14]

Oracle Cloud Infrastructure (OCI): fuel cells for select U.S. data centers, capable of powering entire facilities within about 90 days of deployment.
Equinix: deployments across 19 data centers with capacity exceeding 100 MW.
American Electric Power (AEP): a framework for up to 1 GW of fuel cells to power AI data centers off‑grid.

Bloom pitches its systems as fuel‑flexible (natural gas, biogas, hydrogen) with 15–20% lower fuel consumption than traditional gas turbines, and virtually no particulate emissions. ^[15]

This AI‑power positioning is front and center in today’s European coverage: a Boerse‑Global feature describes Bloom as one of Wall Street’s new favorites precisely because its technology addresses AI‑driven power bottlenecks that legacy grids can’t easily solve. ^[16]

Analyst Price Targets Surge – but Opinions Split

Friday’s news flow also reflected a remarkable run of analyst activity.

Aggressive Upside Targets

Recent weeks have seen a wave of target hikes from major banks and brokers:

Morgan Stanley: price target lifted from $85 to $155, rating Overweight, citing “strong financial execution” and accelerating demand, especially from data centers. ^[17]
Susquehanna: target raised from $105 to $157 with a positive stance tied to AI‑related orders. ^[18]
HSBC: upgraded Bloom from Hold to Buy/Strong‑Buy, with a target around $150, citing rapid revenue growth and manufacturing expansion. ^[19]
Roth Capital & Mizuho: both boosted price targets (to roughly $103 and $89 respectively) while maintaining Neutral ratings, arguing that risk/reward is balanced at current valuations. ^[20]

Intellectia AI aggregates 17 analyst ratings and an average 12‑month price target near $122, with forecasts spanning $26–$160 per share and a “Moderate Buy” consensus (9 Buy, 7 Hold, 1 Sell). ^[21]

More Cautious Voices

Other coverage is less enthusiastic:

Bank of America recently raised its target from $26 to $39, but kept an Underperform rating, arguing that Street revenue expectations are “ambitious” and the current valuation leaves limited upside. ^[22]
MarketBeat’s snapshot still shows a consensus rating of “Hold” and an average target around $93–94, now below Friday’s share price. ^[23]
A new Zacks comparative piece (“FCEL vs. BE”) concludes that rival FuelCell Energy has a slight edge right now based on lower leverage and a far cheaper valuation, even though Bloom’s growth outlook is stronger. ^[24]

In other words, the Street loves the story but not everyone loves the price.

Today’s Headlines: What the November 28 Coverage Is Saying

Here’s how major outlets framed Bloom Energy stock on Friday, November 28, 2025:

1. MarketBeat: “Bloom Energy Trading 8.3% Higher – Time to Buy?”

MarketBeat’s intraday note flagged BE’s 8.3% move higher, a recent high near $109, and a prior close around $101. ^[25]

It also highlighted:

Lofty valuation metrics – a trailing P/E above 500 and PEG ratio north of 60, with a market cap approaching $24–26 billion. ^[26]
Leverage, with debt‑to‑equity around 2x and a high beta (around 3.4), underscoring volatility. ^[27]
A mixed analyst cohort: 1 Strong Buy, 10 Buy, 11 Hold, 3 Sell.

2. MarketBeat: Ensign Peak Advisors Slashes Its Stake

A second MarketBeat piece reported that Ensign Peak Advisors cut its Bloom stake by about 84.5% in Q2, selling roughly 352,100 shares and ending the period with 64,667 shares worth about $1.55 million. ^[28]

At the same time, several other institutions – including Advisors Asset Management, Connor Clark & Lunn, Mizuho Markets and Comerica Bank – boosted their holdings, contributing to institutional ownership of roughly 77% of the float. ^[29]

The article also recapped recent insider sales, including multi‑million‑dollar disposals by senior executives earlier in November. ^[30]

3. AInvest: “Bloom Energy Surges 7.13%… Insider Selling Casts a Shadow”

AInvest’s midday coverage framed Friday’s move as a 7.1% jump to about $108, driven by: ^[31]

The 57% revenue beat and EPS upside in Q3.
Momentum from Morgan Stanley and other analyst upgrades.
Media attention, including praise from well‑known TV commentators.

But the piece also stressed:

Clustered insider sales earlier this month worth more than $7–8 million, which could fuel volatility.
A price‑to‑sales ratio above 13x, compared with an industry average under 2x.
Technical signals: a low RSI and bearish MACD, implying an overextended but choppy setup.

4. StocksToTrade: “Is Bloom Energy Set to Skyrocket Soon?”

StocksToTrade’s evening article emphasized Bloom’s role as a momentum favorite, noting that the stock was up about 8.9% in late trading and had already seen a prior move of roughly 20% after earnings. ^[32]

The story highlighted:

Rapid revenue growth above $1.4 billion annually and expanding gross margins. ^[33]
A series of aggressive analyst upgrades (HSBC, Morgan Stanley, Susquehanna, JPMorgan). ^[34]
Bloom’s decision to issue $2.2 billion of 0% convertible senior notes due 2030, upsized from a planned $1.75 billion. ^[35]

The article framed Bloom as a classic high‑volatility, high‑expectation AI infrastructure play – attractive for traders, but demanding careful risk management.

5. Intellectia AI: Institutional Interest and BofA Skepticism

Intellectia’s Friday monitor entry noted a 5.3% rise in BE during regular trading and a 33.8% jump in institutional ownership over the last quarter. ^[36]

Key takeaways:

Wall Street’s average target near $122 (range $26–$160).
Rating distribution of 9 Buy / 7 Hold / 1 Sell.
A Bank of America price‑target hike from $26 to $39, but with an unchanged Underperform rating, warning that consensus revenue forecasts may be too optimistic and valuation already discounts much of the upside. ^[37]

6. Boerse‑Global / Ad‑hoc News: “Price Target Surge… But Is It Overheating?”

A widely shared European summary described Bloom as a key beneficiary of AI power needs, driven by the Brookfield partnership, the Oracle collaboration and the Q3 earnings beat. ^[38]

It also raised red flags:

Bloom shares have climbed over 317% year‑to‑date, a reminder that much good news may already be priced in. ^[39]
The RSI near 90+ is consistent with extremely overbought conditions. ^[40]
The report highlighted CFO Aman Joshi’s stock sales as another factor long‑term investors should monitor. ^[41]

7. MarketBeat: Bloom Among “Best Energy Stocks to Watch”

Finally, a MarketBeat screener report on Friday listed Tesla, IREN and Bloom Energy as the top energy names to watch based on recent dollar trading volume. The Bloom section reiterated its role as a provider of solid‑oxide fuel cell systems for on‑site power in the U.S. and abroad. ^[42]

Balance Sheet, Convertibles and Cash Burn

While revenue and margins are trending in the right direction, Bloom’s capital structure and cash flows remain key risk factors.

Convertible Notes

On October 31, Bloom priced an upsized $2.2 billion offering of 0% convertible senior notes due 2030, with an option for an additional $300 million. ^[43]

The conversion price was set at about $195 per share, more than 50% above the late‑October stock price.
Roughly $988 million of the proceeds will go to repurchase existing 2028 and 2029 convertible notes, alongside issuing about 42.4 million new shares as part of the exchanges. ^[44]

This transaction extends Bloom’s debt maturity profile but also increases potential future dilution if the stock stays well above the conversion price.

Cash Flow and Leverage

Q3 numbers show: ^[45]

Net loss still negative (~$23 million).
Free cash flow significantly negative (over $200 million outflow in the quarter).

Meanwhile, valuation screens show: ^[46]

Debt‑to‑capital near 63% (vs ~19% for FuelCell Energy).
Price‑to‑sales around 9–13x, depending on the source and time of measurement, far above peers and sector averages.

For investors, the message is clear: Bloom is spending heavily today – on capacity, R&D and large‑scale deployments – in hopes of monetizing a long runway of AI‑driven demand.

Short Interest, Volatility and Trading Dynamics

Bloom is not just popular with bulls; it’s also a crowded short.

A 24/7 Wall St. feature this month listed BE among three “explosive stocks with high short interest,” estimating short interest around 18% of the float and noting the stock’s surge from about $90 to over $140 earlier in November. ^[47]

Combining:

High short interest
Heavy options activity (highlighted by AInvest) ^[48]
A strong fundamental narrative tied to AI

…gives Bloom all the ingredients for sharp rallies and equally sharp pullbacks as sentiment swings.

Competitive Context: FCEL vs. BE in Hydrogen Power

A new Zacks‑authored comparison published via Nasdaq on Friday directly pits FuelCell Energy (FCEL) against Bloom Energy. ^[49]

Key points from that report:

Growth: Both companies are expected to grow rapidly, but Bloom’s revenue and EPS growth rates for 2025–26 are particularly strong (projected revenue growth ~28.6% in 2025 and ~37.7% in 2026; EPS growth ~86% in 2025 and ~79% in 2026).
Leverage: Bloom’s debt‑to‑capital ratio (~62.6%) is far higher than FuelCell’s (~19.4%).
Valuation: Bloom trades around 9.4x forward sales, versus about 1.1x for FuelCell.
Ranking: Zacks assigns FuelCell a Rank #2 (Buy) vs Bloom at Rank #3 (Hold), concluding that FuelCell has a “marginal edge” right now due to lower debt and cheaper valuation, even though both firms have promising backlogs.

That framing reinforces the idea that Bloom is the higher‑quality, higher‑growth name – but also the more expensive, more leveraged way to play hydrogen and on‑site power.

Key Things for Investors to Watch After November 28

For readers following Bloom Energy stock after today’s surge, here are the main variables to monitor:

AI data center deal flow and project execution
- Progress on the Brookfield AI factory pipeline, including the first European site. ^[50]
- Additional wins with hyperscalers, colocation providers and utilities.
Manufacturing scale‑up to 2 GW
- Whether Bloom can hit its 2 GW annual capacity target by 2026 without eroding margins. ^[51]
Cash burn vs. funding sources
- How quickly negative free cash flow narrows.
- Use of proceeds from the $2.2B convertible notes and any further capital raises. ^[52]
Valuation and sentiment
- Whether earnings growth and order backlog can justify a P/S multiple several times industry norms. ^[53]
- How high short interest and options activity continue to influence day‑to‑day price swings. ^[54]
Insider and institutional flows
- The balance between insider selling and rising institutional ownership, as highlighted by MarketBeat and Intellectia. ^[55]

Bottom Line: A High‑Conviction Story, High‑Expectation Stock

Bloom Energy has quickly become one of 2025’s defining AI infrastructure plays:

It is growing fast, has a clear role in solving AI‑era power bottlenecks, and has attracted big‑name partners like Brookfield, Oracle, Equinix and AEP. ^[56]
Analysts have dramatically raised price targets, and many see Bloom as a structural winner in on‑site, lower‑carbon power. ^[57]

At the same time:

The stock is expensive by most traditional metrics,
The company still burns cash and carries significant debt, and
Technical and sentiment indicators suggest elevated risk of volatility and pullbacks from such extended levels. ^[58]

For long‑term investors, Bloom Energy is a high‑beta way to bet on AI‑driven power demand and the hydrogen/fuel‑cell transition. For traders, it remains a volatile, catalyst‑rich momentum stock.

Either way, decisions around BE should factor in personal risk tolerance, time horizon and diversification needs. This article is for informational purposes only and does not constitute financial or investment advice; consider speaking with a qualified financial professional before making any investment decisions.

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References

Bloom Energy (BE) Stock Soars on AI Power Deals and Analyst Upgrades – November 28, 2025 Update