Bloom Energy ( BE ) shares are surging Wednesday, with the stock still up 63.27% year to date.

Bypassing the Grid for AI

Bloom is benefiting as AI data centers seek to bypass traditional utility grid delays. The company's solid oxide fuel cells offer 24/7 electricity for stationary applications.

These systems are fuel-flexible, utilizing natural gas, biogas, and hydrogen. Bloom is positioning its technology as a primary power layer for next-generation data centers.

The fundamental story remains strong following record 2025 revenue of $2.02 billion. The company’s product backlog recently swelled 140% year-over-year to $6 billion.

The total backlog now sits near $20 billion. Management is guiding 2026 revenue to between $3.1 billion and $3.3 billion.

Short Interest Edges Lower

Short interest in Bloom Energy ( BE ) fell to 22.04 million shares in the latest reporting period, down from 22.47 million, representing 10.43% of the company's public float.

With an average daily trading volume of 10.11 million shares, it would take about 2.18 days for short sellers to cover their positions.

Earnings & Analyst Outlook

Bloom Energy ( BE ) is slated to provide its next financial update on April 29.

EPS Estimate: 7 cents (Up from 3 cents YoY)

Revenue Estimate: $520.35 million (Up from $326.02 million YoY)

The stock carries a Buy Rating with an average price target of $92.78.

Recent analyst moves include:

Citigroup: Initiated with Neutral (Target $162.00) (Feb. 24)

Mizuho: Neutral (Raises Target to $110.00) (Feb. 9)

JP Morgan: Overweight (Raises Target to $166.00) (Feb. 6)

BE Price Action: Bloom Energy ( BE ) shares were up 4.61% at $161.10 at the time of publication on Wednesday, according to Benzinga Pro data.