Bloom Energy Jumps 8% to $187.18 as Fuel-Cell Stocks Rebound
Key Facts
Bloom Energy shares rose 8% to $187.18 in early trading on Nov. 9, according to a 24/7 Wall St. report, as fuel-cell stocks rebounded after falling the previous week. The move comes as investors monitor demand for power needed by data centers, while companies in the sector face regulatory concerns and swings in sentiment. The report noted that the recorded price was during early trading and could change as the session progressed. Bloom shares closed at $173.24 on Nov. 6, according to EL7 data. The rise therefore reflects an improvement in early trading compared with the previous close, but does not determine the stock’s direction for the rest of the session.
The 24/7 Wall St. report linked the previous week’s sell-off to the midterm election results, which raised concerns about tighter rules for AI data centers. That context places the sector’s rise on Nov. 9 within an effort to recover some of its losses, rather than as evidence that those concerns have dissipated. On Nov. 5, Bloom announced an agreement with NTT DATA to deploy 900 megawatts of onsite power across multiple data center projects worldwide. The company said NTT Global Data Centers would use its fuel cells as a primary power source. The agreement strengthens Bloom’s connection to data center expansion and its electricity needs, but remains a future project.
Bloom said initial shipments under the NTT DATA agreement would begin in 2027, describing the project as its largest international project to date. The announced timetable means implementation will start later, so the contracted capacity does not represent immediate revenue on the day it was announced. The company says its fuel cells generate electricity without combustion, with low local air emissions, limited water use and quiet operation. These characteristics place them, according to the company, among the onsite power solutions for data center projects. The deal’s significance remains tied to its progress from an announced agreement to shipments and implementation beginning in 2027.
Bloom’s results announced on Oct. 22 provide a growth backdrop ahead of the stock’s latest rebound. Third-quarter revenue was $1,235.8 million, up 138.1% year over year, and the company raised its 2026 revenue outlook range to $4.4–4.6 billion. In the second quarter, cash flow from operating activities was $226.4 million, compared with net cash used in operating activities of $213.1 million in the same period of 2025. These figures provide financial context for the company’s growth and outlook, alongside the data center-related agreement. They do not change the fact that the rise recorded on Nov. 9 was an early-session reading.
Markets are also awaiting an update from Plug Power, which said its third-quarter results and earnings call are scheduled for Nov. 9 at 4:30 p.m. Eastern time. Based on preliminary unaudited estimates, the company expected quarterly revenue growth of more than 10% year over year, net cash use of about $28 million, and about $134 million in cash and cash equivalents at quarter-end. Plug said it was on track to meet its previous guidance for annual revenue growth of about 15–16% in 2026, and that it was focused in the fourth quarter on cash management and improving operational performance. It also cited an agreement to supply 280 megawatts of electrolyzers for a project in Denmark, progress on a 275-megawatt project in Quebec, and a 50-megawatt order in Australia. The company is scheduled to hold a global webinar on Nov. 19 to discuss energy security, electricity demand, grid resilience, regulations and hydrogen markets.