Bloom Energy Corporation (NYSE:BE) saw its share price rise sharply by 23.57% during the week of January 7 to January 14, 2026. This increase placed it among the top-performing energy stocks for that period.
The jump followed an announcement on January 8 from American Electric Power Company. AEP stated that one of its units plans to purchase solid oxide fuel cells valued at $2.65 billion from Bloom Energy. The two companies had previously signed an agreement in 2024 for an initial acquisition of 100 megawatts of these fuel cells, with an option for an additional 900 megawatts. Last week, the utility exercised that option.
In response to the deal, Clear Street adjusted its assessment of Bloom Energy on January 8. The analyst firm raised its price target for the stock from $58 to $68, while keeping a 'Hold' rating. Clear Street indicated that the company's sales are expected to benefit strongly from this recent order.
Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. Its Energy Server technology generates power onsite by converting fuels such as natural gas, biogas, and hydrogen into electricity without combustion.
Following these recent gains, the share price of Bloom Energy has increased by nearly 490% over the past year.