Bloom Energy Corp. (NYSE:BE) stock traded lower on Thursday as broader market selling hit high-valuation AI and data-center power infrastructure providers. The Nasdaq is down 0.45%, the S&P 500 has shed 0.25%, and Industrials are also in the red, down 0.4%.
The market pressure coincided with the U.S. 10-year Treasury yield hitting 5.35% earlier in the session. Investors voiced concern over sustained Federal Reserve rate hikes and elevated borrowing expenses for capital-intensive sectors reliant on debt-financed operations.
Treasury Yields Spike Interest Rate Concerns
The U.S. 10-year Treasury note yield subsequently eased to 5.28% on Thursday. Market participants weighed rising oil prices, which continue to add inflationary pressure and fuel expectations of further monetary tightening, according to Trading Economics. Minutes from the Federal Reserve’s September meeting revealed that most policymakers anticipate another federal funds rate increase this year.
Analyst Ratings and Sector Tailwinds
On Wednesday, UBS maintained its Buy rating on Bloom Energy and raised its price forecast to $350. Bernstein reiterated its Market Perform rating with a $282 forecast.
On Tuesday, infrastructure equities gained following a 20-year nuclear power partnership between Alphabet Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG) and Constellation Energy Corp. (NASDAQ:CEG) to bring 890 megawatt online, boosting long-term compute sentiment, according to Benzinga Pro.
Additionally, Barclays raised its price forecast on Bloom Energy to $308 from $276 on Friday, while RBC Capital reiterated an Outperform rating and $335 forecast on Sept. 28.
Virginia Energy Plan Focuses on Fuel Cells
The Virginia Department of Energy issued its 2026 Virginia Energy Plan on Thursday under the Virginia Clean Economy Act. RBC Capital analyst Christopher Dendrinos noted that the framework establishes a “non-combustion gas resource” category and selects fuel cells for near-term energy reliability, targeting up to 5 gigawatts of capacity between 2029 and 2035.
“Electricity demand is rising rapidly, and our energy system will need to grow at a pace we have not seen in more than 80 years,” Virginia Gov. Abigail Spanberger wrote.
BE Stock Price Activity: Bloom Energy shares are trading lower by 6.40% at $272.64 at the time of publication on Thursday, according to Benzinga Pro data.
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