Bloom Energy Stock Rebounds After Company Refutes Short-Seller Report

Shares of Bloom Energy Corp. (BE) surged in pre-market trading after the company formally rejected allegations from a short-seller report that had caused a steep decline in its stock price the previous day. The stock climbed 5.8% in pre-open trading as the company and at least one analyst defended its business practices and outlook.

Company Rejects Allegations

Bloom Energy issued a statement calling the report from Hunterbrook Media LLC "false and misleading." The company directed investors to its official regulatory filings for accurate information on its financial results and accounting. Hunterbrook, which disclosed it may hold positions that profit from a drop in Bloom's stock, had alleged the company was concealing its reliance on Chinese suppliers for scandium oxide, a critical material in its fuel cell technology.

In its rebuttal, Bloom Energy stated it has a sufficient supply of scandium oxide to meet current demand and its existing order backlog. The company also asserted that it does not depend on China to scale its supply for future growth, directly countering the short-seller's central claim.

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Analyst Backing and Market Context

Adding to investor confidence, Mizuho reiterated its Neutral rating and $285.00 price target on Bloom Energy's stock. The firm's analysts characterized the prior session's selloff as "overdone," arguing the short report overlooked Bloom's key competitive advantage in rapidly delivering on-site power for AI data centers.

The rebound occurred against a more constructive market backdrop for technology stocks. While the broader market had been mixed on Wednesday amid geopolitical tensions, pre-market sentiment on Thursday showed investors refocusing on the AI infrastructure theme, providing a favorable environment for Bloom's recovery.