Bloom Energy Shares Drop as BofA maintains ‘Underperform‘ Rating Despite Price Target Increase
Bloom Energy (BE) shares fell sharply today, declining as much as 8% following Bank of America Securities’ decision too maintain an “Underperform” rating on the stock. The move, despite a raised price target from $21.00 to $24.00, signaled to investors continued concerns about the company’s near-term performance.
The mixed message from bofa appeared to outweigh the positive adjustment to the price target, fueling a cautious outlook already influenced by wider concerns about Bloom Energy’s fundamentals and recent insider selling activity. While analysts have pointed to the company’s potential within the burgeoning AI data center power market – particularly after a deal with Oracle – the negative assessment from a major bank weighed heavily on investor sentiment.
Bloom Energy has experienced significant volatility, with 67 moves of greater than 5% over the past year. Despite today’s drop, the stock remains up 186% year-to-date, though still trading 22.6% below its 52-week high of $86.27 reached in September 2025. An investment of $1,000 in Bloom Energy five years ago would now be worth $4,568.
