Bloom Energy (BE) Stock Jumps 6% After Firing Back at Short Seller Attack

TLDR

• Bloom Energy stock rose over 6% after the company rejected a short seller report from Hunterbrook Capital as “false and misleading”
• Hunterbrook claimed Bloom’s 5GW production target would require nearly all of the world’s projected scandium oxide supply
• Bloom said it has enough scandium oxide to meet current demand and future growth, with no reliance on China
• The short report sent BE stock down roughly 12% on Wednesday before Thursday’s rebound
• Earnings are due July 28, with analysts expecting EPS of $0.36 and revenue of $804 million

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Bloom Energy (BE) stock climbed more than 6% on Thursday after the company pushed back hard against a short seller report that sent the stock tumbling 12% the day before.

Bloom Energy Corporation, BE

Hunterbrook Capital published a report on Wednesday accusing Bloom of understating its reliance on Chinese scandium suppliers. Scandium oxide is a key material in Bloom’s solid oxide fuel cells. Hunterbrook also disclosed it holds a short position in BE stock.

The core of Hunterbrook’s argument was a supply-demand model showing that Bloom’s goal of scaling from roughly 1GW of deployments in 2026 to 5GW annually would require around 220 tons of scandium oxide. Global supply is projected at just 240 tons. The short seller called the production targets “physically and commercially unattainable.”

Hunterbrook also raised concerns about revenue quality, noting that 74% of Bloom’s Q4 2025 revenue came from joint ventures with Brookfield. The report suggested these may be project-finance affiliates rather than end customers.

The report further pointed to delays at Oracle’s Project Jupiter and an AEP fuel cell order, and questioned Bloom’s $20 billion unaudited backlog against just $492.6 million in audited remaining performance obligations.

Bloom Fires Back

Bloom Energy responded Thursday morning, calling the claims “false and misleading.” The company directed investors to its audited financial statements and regulatory filings rather than the short seller’s report.

On scandium, Bloom said it has enough supply to meet current customer demand and its full backlog. It also stated it does not rely on China for its scandium supply, and said it has visibility into a supply chain capable of supporting up to 25GW of annual fuel cell production.

The company had signaled this response was coming. On Wednesday, Bloom told Benzinga it was “reviewing the report and will correct the record,” referencing a July 7 blog post it had already published on scandium oxide.

What Analysts Are Saying

Wall Street has a Moderate Buy consensus on BE stock, with nine Buy ratings, 10 Holds, and zero Sells over the past three months. The average price target sits at $287.05, implying around 9.3% upside from current levels.

Recent analyst moves show a mixed but generally constructive picture. Baird maintained its Outperform rating with a $310 price target on July 9. UBS raised its target to $350 with a Buy rating on July 1. Jefferies held at a $310 price target, though raised its target modestly to $246 with a Hold rating on July 6.

BE stock has had a strong run by any measure, up 785% over the past 12 months. It’s trading above both its 100-day and 200-day moving averages, though still below its 20-day and 50-day averages following the recent pullback.

Key resistance sits around $303. Key support is near $247.50.

Earnings are scheduled for July 28. Analysts expect EPS of $0.36, up from $0.10 a year ago, and revenue of $804 million, roughly double the $401 million reported in the same quarter last year.

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