Movement Alert|Bloom Energy Corp Rises 3.02% Overnight, Multiple Institutions Reiterate Support as Short-Selling Concerns Dissipate

Market Focus
Jul 23

On July 23, Bloom Energy Corp rose 3.02% overnight, trading at $224.66/share, with turnover of $563,100. The stock rebounded after a prior session's profit-taking decline of approximately 3%, which followed a sharp 14%-plus rally earlier in the week.

On the news front, multiple Wall Street institutions reiterated bullish stances, helping dissipate concerns raised by short seller Hunterbrook's report alleging that Bloom's 5GW annual production capacity would require roughly 220 tons of scandium oxide — near the global annual supply. UBS maintained its buy rating and $350 price target, arguing that scandium supply concerns are significantly overblown. RBC noted the short report relies on outdated reference material, highlighting that Bloom has reduced its dependency on scarce minerals through patents and technological improvements. Additionally, Brookfield expanded its AI infrastructure partnership with Bloom Energy to $25 billion, reinforcing fundamental support. The quarterly earnings report is due July 28, with consensus EPS expected at $0.23.

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