Bloom Energy saw its share price climb by 14.82 percent on Tuesday to end at $226.26 apiece, as investors cheered an investment firm’s sharp price target upgrade and looked ahead to its upcoming earnings report.
29.6% Price Target Hike
In a market note, JPMorgan raised its price target for Bloom Energy Corp. (NYSE:BE) by 29.6 percent to $346 from $267 previously, while maintaining an overweight rating for the stock.
The coverage reflected its belief that the fuel cell player is well-positioned to deliver 4.1 gigawatts of fuel capacity in fiscal year 2030, driven by strong demand from companies desperate for immediate, off-grid energy to power their data centers.
It added that negative headlines surrounding delays in connecting data centers to utility grids bode well for the fuel cell player, adding that it could further strengthen the investment case for behind-the-meter providers such as Bloom Energy Corp. (NYSE:BE).
A Bloom Energy power generation system. Photo from Bloom Energy website
Q2 Earnings on Deck
Upbeat outlook aside, investors also began positioning their portfolios ahead of Bloom Energy Corp.’s (NYSE:BE) earnings performance for the second quarter of the year.
The company said that it is scheduled to release its financial and operating highlights after market close on July 28, 2026. A conference call will be held to discuss the results.
Investors are also expected to watch for the company’s updated guidance for the year after announcing last month that it expanded its power financing partnership with Brookfield by fivefold to $25 billion from $5 billion previously in a bid to strengthen their foothold globally.
The expanded partnership reflects strong and sustained demand from hyperscalers and AI infrastructure developers for fast, reliable, and community-friendly power.
The partnership is expected to combine Brookfield’s global leadership in AI infrastructure development, access to capital, and operating scale with Bloom’s rapidly deployable onsite power platform.
Together, they aim to continue advancing a new model for AI factories that integrates power, compute, data center infrastructure, and capital from the outset.
Hedge Fund Participation
Institutional investors remained constructive on Bloom Energy Corp.’s (NYSE:BE) long-term prospects.
Data by Insider Monkey showed that as of the first quarter of the year, 91 hedge funds have held positions in the company, an increase from 88 in the previous quarter.
Their combined holdings also increased to $4.48 billion from $3.17 billion quarter-on-quarter, signaling stronger conviction among institutional investors.
Of its top hedge fund holdings, Zevenbergen Capital took the largest chunk at $9.56 million, followed by Ardsley Partners at $9.4 million, and Katamaran Capital at $1 million.
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