Bloom Energy Corporation (BE): A Bull Case Theory

We came across a bullish thesis on Bloom Energy Corporation on Valueinvestorsclub.com by jd5318. In this article, we will summarize the bulls’ thesis on BE. Bloom Energy Corporation's share was trading at $52.45 as of September 3^rd. BE’s trailing and forward P/E were 476.82 and 63.29 respectively according to Yahoo Finance.

Bloom Energy (BE) is the world’s largest U.S.-based fuel cell manufacturer, producing modular energy servers that convert natural gas or biogas into electricity through a highly efficient, non-combustion process. These compact systems, scalable from kilowatts to gigawatts, deliver electricity at $0.09–$0.12/kWh, offering a reliable and low-emission alternative to conventional generation. The company has achieved profitability after 25 years of investment and technological development, validated by deployments with over 50 Fortune 500 customers and utility partners such as American Electric Power.

Bloom’s energy servers are particularly suited to inference-oriented AI datacenters, which require low-latency power near population centers where traditional grid expansion is slow and costly. Unlike conventional turbines, Bloom can manufacture and deploy large-capacity energy servers within months, with modular redundancy ensuring 99.98% reliability, high operational efficiency, and inexpensive carbon capture, giving it a competitive edge over fossil-fuel alternatives and stopgap measures like mobile generators or Bitcoin-mining power conversions.

The company is poised for rapid growth, with projected unit sales reaching 1–2 GW annually over the next 2–4 years, potentially driving non-GAAP EPS to $2–$6 and a corresponding stock price of $60–$100. Long-term, achieving cost parity with combined-cycle gas turbines and capturing modest market share could expand earnings above $10 per share, with upside from hydrogen applications adding further optionality.

While risks include dependence on natural gas infrastructure, production scaling, and potential technological disruption, these appear manageable given Bloom’s experience, manufacturing capacity, and flexibility to run on alternative fuels. With a current share price of ~$22 offering downside protection, Bloom presents a compelling risk/reward profile, with multiple catalysts including AI datacenter demand, industrial customer growth, and potential strategic or M&A developments.

Previously we covered a bullish thesis on Plug Power Inc. (PLUG) by Tiny Stock Ninja in May 2025, which highlighted the company’s expansion in hydrogen production, European electrolyzer pipeline, and strategic financing amid operational challenges. The company's stock has appreciated approximately 91% since our coverage, reflecting investor optimism on execution and hydrogen demand. The thesis still stands as a long-term growth story. jd5318 shares a similar focus on alternative energy but emphasizes Bloom Energy’s fuel cells for AI datacenters and rapid deployment advantages.

Bloom Energy Corporation is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 44 hedge fund portfolios held BE at the end of the first quarter which was 42 in the previous quarter. While we acknowledge the potential of BE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

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Disclosure: None.