New York, Jan 20, 2026, 17:58 ET — After-hours
- After a volatile day, Bloom Energy shares climbed roughly 1.5% in late trading.
- RBC kept its Outperform rating and $143 price target, citing an air-permit filing linked to a new Texas data-center project.
- The company rolled out a new survey on data-center power, revealing growing demand for onsite generation.
Shares of Bloom Energy Corp climbed 1.5% to $151.75 in after-hours trading Tuesday, swinging between $138.68 and $155.03 during the session. The move came after RBC Capital’s Christopher Dendrinos reaffirmed his Outperform rating with a $143 price target, citing expectations that the stock “will respond favorably to the air permit filing.” 1
The setup is key since investors see Bloom Energy (BE) as a stand-in for the rush to power massive data centers, where connecting to the grid can drag on for years. The pressing question is often, “how fast can you deliver megawatts?” That narrative remains front and center despite the broader market’s ups and downs.
Bloom injected new momentum into the discussion Tuesday by releasing its 2026 Data Center Power Report, a survey capturing how operators and developers intend to secure electricity for upcoming campuses. “Data center and AI factory developers can’t afford delays,” said Chief Marketing Officer Natalie Sunderland in the statement. 2
The report noted that hyperscalers and colocation providers anticipate about one-third of data centers will rely entirely on onsite power by 2030. It highlighted a trend toward “power-advantaged” areas like Texas and parts of the Southeast. Utilities, however, are lagging, with delivery timelines stretching 1.5 to 2 years beyond customer expectations—especially in key hubs such as Northern Virginia, the Bay Area, and Atlanta. 3
RBC’s note, shared during the regular session, highlighted an air-permit filing suggesting Bloom fuel cells will power a new 1.5-gigawatt data center planned for Navarro County, Texas. The filing, from an entity named Hedgehog USA, outlines a phased rollout starting with 104 megawatts of “behind-the-meter” solid oxide fuel cells — meaning the power is generated onsite, on the customer side of the utility meter — before ramping up in later phases, the report said. 4
Bloom bucked the trend amid a rough day for growth stocks, as the Nasdaq Composite slipped roughly 2.4%, per market data. 5
FuelCell Energy climbed roughly 7.3%, but Plug Power dipped about 1.9%, with Ballard Power Systems down close to 5.7%.
Bloom offers solid oxide fuel-cell systems designed for onsite power generation, a sector gaining traction as data centers face delays in grid connections and limited utility capacity. 6
However, the filings-and-surveys approach isn’t foolproof. Permits might show intent but don’t always translate into actual orders. Big projects often face delays from financing issues, equipment lead times, or local opposition—particularly when power generation and emissions permits come into play.
Investors are looking for clearer guidance on bookings, margins, and cash flow in the upcoming earnings report. Bloom hasn’t set a date yet, but market calendars peg the release near Feb. 26. 7
The next key trigger hinges on whether any of the Texas permit details become linked to a named customer or contract. Investors will also watch to see if management’s upcoming update breaks down how much of the data-center pipeline represents actual, signed business. The deadline looms in late February.
