Here is Why Bloom Energy (BE) is Among the 7 Energy & Utility Stocks that are on Fire in April

With gains of  77.18 % between April 1 and April 27, Bloom Energy Corporation (NYSE:BE) is included in our list of the 7 Energy & Utility Stocks that are on Fire in April.

Bloom Energy Corporation (NYSE:BE) designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. Bloom’s Energy Server generates power onsite, converting fuels like natural gas, biogas, and hydrogen into electricity without combustion.

Bloom Energy Corporation (NYSE:BE) skyrocketed this month after the company expanded its partnership with Oracle, with the tech giant set to procure up to 2.8 GW of Bloom’s fuel cell systems to support its AI data center buildout. As part of the deal, an initial 1.2 GW of capacity has already been contracted, with deployment underway and continuing into the next year. Oracle later announced on April 27 that it will utilize Bloom Energy’s fuel cells to fully power the planned multi-billion-dollar Project Jupiter AI data center campus in New Mexico. It needs mentioning that Oracle also holds a warrant to purchase $400 million of the fuel cell power company’s stock.

The deal with a hyperscaler pushed several major analyst firms to bump up their respective price targets or outright upgrade Bloom Energy Corporation (NYSE:BE) this month, further bolstering investor confidence.

While we acknowledge the potential of BE as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 8 Best Wind Power and Solar Stocks to Buy Right Now and 10 Best Nuclear Energy Stocks to Buy for Dividends

Disclosure: None. Follow Insider Monkey on Google News.