Bloom Energy stock jumps 10.9% as RBC maintains rating on demand

Bloom Energy's stock price jumped 10.9% in early trading on Tuesday, bouncing back sharply after a sharp drop the previous day. RBC Capital reaffirmed its bullish outlook on the fuel cell manufacturer, citing a major expansion at its Fremont, California production facility as evidence that customer demand remains strong. The company announced plans to lease an additional 158,000 square feet at its Fremont facility, nearly matching its existing footprint of 164,000 square feet.

This expansion, combined with reassurances from Bloom about its key Oracle contract, helped drive the stock rebound. Jefferies also raised its price target to $264 from $229, though it maintained a Hold rating. The broader fuel cell sector also benefited from the positive sentiment, with peer FuelCell Energy rising alongside Bloom.

Despite a lack of broader market support, the move in Bloom Energy was driven entirely by company-specific developments, with shares reaching as high as $291.72 intraday.