On June 12, Bloom Energy rose 3.02% in pre-market trading, trading at $256.71/share, with turnover of $5.48 million, extending the technical rebound after a roughly 10% plunge earlier this week triggered by news that AI infrastructure company Crusoe paused its 1.8 GW data center project in Cheyenne, Wyoming at a client's request.
The paused project had planned to deploy approximately 900 MW of Bloom Energy fuel cell systems, representing potential revenue of about $2.65 billion tied to a supply agreement with AEP Energy. However, multiple fundamental catalysts continue to provide bottom support: UBS previously raised its price target to $322 with a Buy rating, Q1 revenue surged 130.4% year-over-year with core product revenue up 208.4%, and the company maintains major contracts including a $2.6 billion long-term fuel cell agreement with Nebius and a 2.8 GW data center power deal with Oracle.
Within the Heavy Electrical Equipment sector, the overall sector is trending higher. Among individual stocks, NuScale Power up 6.92%, NANO Nuclear Energy up 3.52%, Forgent Power Solutions up 2.85%, X-Energy up 2.51%, GE Vernova up 1.24%.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
Comments