TLDR
- BE stock is down ~33% over the past month and over 10% in the past five days
- RBC Capital says Bloom Energy is the likely power supplier for EdgeMode’s two new 1.2GW data center projects in Panama
- RBC reaffirmed a Buy rating with a $335 price target, implying ~54% upside
- JPMorgan also maintained its Buy rating, citing rising power demand and “compelling entry points”
- Bloom secured a $1.7 billion investment in its technology last week; Q2 earnings are due soon
Bloom Energy (BE) stock opened at $217.30 on Friday, barely managing a 1% gain early in the session despite fresh speculation around a major new data center deal in Panama. The stock has dropped over 10% in the past five days and roughly 33% over the past month — a slide triggered by short-seller attacks and concerns about a deployment delay tied to an Oracle project.
On Thursday, EdgeMode CEO Charlie Faulkner told financial media outlet Core Finance that the company has added two new 1.2GW data center projects in Panama to its portfolio. The projects build on EdgeMode’s existing push into solid-oxide fuel cell technology in Europe.
RBC Capital analyst Chris Dendrinos responded quickly, suggesting Bloom Energy is the likely power supplier for both projects — a potential extension of their existing partnership.
Dendrinos said the news signals continued strong demand for Bloom’s products. He reaffirmed his Buy rating and kept his $335 price target on the stock, which implies around 54% upside from current levels.
Analysts Stay Bullish Despite the Selloff
JPMorgan also held its Buy rating on BE this week. The bank pointed to growing power demand and said the recent selloff in clean energy and power stocks had created “compelling entry points.”
Last week, Bloom locked in a new $1.7 billion investment in its technology — a number worth noting as the stock has been under pressure.
Institutional investors have been active. Goldman Sachs raised its holdings by 50.3% in Q1. Amundi increased its stake by 390.7% in Q4. Norges Bank took a new position worth nearly $240 million. Around 77% of BE stock is held by institutional investors.
The consensus Wall Street rating on BE is Moderate Buy, with nine Buys and 11 Holds issued over the past three months, and an average price target of $289.40 — roughly 33% above current levels.
Q2 Earnings on Deck
Bloom’s last earnings report, for Q1, came in well ahead of expectations. The company posted $0.44 EPS against a consensus estimate of $0.12, a beat of $0.32. Revenue hit $751.05 million, up 130.4% year-over-year, compared to analyst estimates of $539.94 million.
For full-year 2026, Bloom has set EPS guidance of $1.85 to $2.25. Analysts, as a group, forecast $1.43 EPS for the year.
Despite the bullish analyst sentiment, insider selling has continued. Over the past 90 days, insiders sold around 153,617 shares worth roughly $44 million.
BE stock has a 12-month low of $29.90 and a 12-month high of $351.28. Its 50-day moving average is $272.41, well above the current price of $217.30.
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