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Bloom Energy Stock Hits Record High Amid Hydrogen Fuel Cell Demand Surge
Bloom Energy Stock Hits Record High Amid Hydrogen Fuel Cell Demand Surge
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BTCCSquare news:
Bloom Energy shares soared to an all-time high of $68.74 this week, marking a 17.4% surge at peak trading. The rally follows a bullish analyst upgrade and mounting evidence of accelerating demand for the company's hydrogen fuel cell technology.
RBC Capital's Christopher Dendrinos more than doubled his price target to $75 per share, citing robust growth prospects. The Optimism stems from Bloom's $44 million order with precision engineering firm MTAR Technologies and plans to double production capacity to 2 gigawatts by 2026.
Second-quarter results showed record revenue with gross margins expanding 630 basis points to 26.7%. Operating losses narrowed dramatically from $23.1 million to $3.5 million, signaling improving operational efficiency.
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