13 Best Russell 2000 Stocks to Buy Right Now

​1. Bloom Energy Corporation (NYSE:BE)

Number of Hedge Fund Holders: 64

​Bloom Energy Corporation (NYSE:BE) is one of the Best Russell 2000 Stocks to Buy Right Now. On January 8, Ameet Thakur from BMO Capital reiterated a Hold rating on the stock with a $136 price target. On the same day, Tim Moore, CFA, from Clear Street, also reiterated a Hold rating on Bloom Energy Corporation (NYSE:BE) and raised the price target from $58 to $68.

Analyst Thakur from BMO Capital noted positive developments and uncertainties in the revenue structure, as well as technology risks, concerning the company’s AEP purchase of the remaining 900MW under the 1GW framework. The analyst noted the deal is backed by a 20-year power purchase agreement. He added that this project validates the demand from large-scale customers for the company’s fuel cells. Thakur also highlighted that the order momentum for Bloom Energy Corporation’s (NYSE:BE) solid oxide fuel cell has been improving, making it a reliable baseload power option for data centers.

​However, the analyst highlighted several issues with the deal. He noted that the deal mainly focuses on equipment sales and lacks clear long-term service revenue. Moreover, the 20-year PPA also exceeds the company’s usual 10-year agreements, which will require separate service deals. Lastly, Thakur highlighted that the company’s target market is still in the early stage of commercialization. He remains a Hold on Bloom Energy Corporation (NYSE:BE).

​Bloom Energy Corporation (NYSE:BE) specializes in solid oxide fuel cell technology for on-site power generation. It manufactures Bloom Energy Servers that convert fuels such as natural gas, biogas, and hydrogen into electricity without combustion, and Bloom Electrolyzers for hydrogen production.

While we acknowledge the potential of BE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than BE and that has 100x upside potential, check out our report about this cheapest AI stock.

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