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Bloom Energy (BE.US) shares are up by more than 7% in today’s pre-market trading following official confirmation that the fuel cell manufacturer will join the S&P 500 index on 21 September. Since the start of the year, the company’s share price has already risen by nearly 190 per cent. It is also the first energy sector company to be added to this benchmark since 2022. The main driver behind the current rally is the growing infrastructure needs of the artificial intelligence (AI) sector. Bloom Energy’s solutions enable newly built data centres to be powered independently within just a few months, which is a key advantage given the multi-year delays in connecting to traditional electricity grids. This promotion to the elite group is also underpinned by solid financial results. The company recently reported its first-ever quarter with revenue exceeding the one-billion-dollar mark (US$1.07 billion), representing more than a twofold increase year-on-year. The gross margin (non-GAAP) stood at 34.3 %, and the management has revised its full-year revenue forecast upwards to a range of US$3.9–4.2 billion.
As recently as yesterday, the company’s shares were testing the highs seen in early August, having previously broken out of the ‘value’ zone of the volume profile marked on the chart dating back to 2026. Another potential area to watch could be the range between USD 270 and USD 295 per share, where another volume zone lies, as well as the value of one positive standard deviation of the anchored VWAP, also established at the start of this year. Source: xStation
