Bloom Energy falls as AI power concerns resurface

Bloom Energy Corp shares dropped 5.0% in morning trading Tuesday to $214.91 after a South Korean data center company's public market debut collapsed overnight. The decline was part of broader selling across AI-linked power infrastructure stocks.

The company is scheduled to report third-quarter results after market close on October 22. Analysts expect revenue to roughly double from the prior year to approximately $1.06 billion to $1.07 billion.

The stock's forward price-to-earnings ratio remains well above sector peers. Retail sentiment shifted from bullish to neutral over the past 24 hours.

A Form 144 insider filing dated October 18 indicated a potential sale of restricted or control securities, adding pressure to the stock.

Truist maintained a Hold rating on Bloom Energy while raising its price target to $240 from $218. The new target sits below the stock's recent trading range.

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