Bloom Energy (BE) stock has been surging massively in the past six months, up over 600%. The company makes solid oxide fuel cells, which can be used to produce electricity on-site in data centers and in other facilities. Considering the U.S. may be heading towards an electricity crunch due to the aggressive AI build-out, investors have poured into BE stock.

The rally intensified today after the market noticed that a politician just doubled his position on BE stock.

California Representative Gilbert Cisneros disclosed that he bought BE stock in late September and has more than doubled since. His investment is also being seen as a vote of confidence since he sits on the House Sustainable Energy and Environment Coalition.

Bloom Energy is growing aggressively and profitably
The stock is surging rapidly, and it could be far from its full potential. Bloom Energy beat revenue estimates by 21.25% in Q3 and beat EPS estimates by 50.21%.

The company posted positive operating income of $7.8 million in Q3. Revenue grew to $519 million, up from $330.4 million in the year-ago quarter. The rally also gives it the opportunity to do at-the-market offerings and raise billions at will. Ending cash balance is $627 million at the end of Q3.

The company has a $5 billion partnership with Brookfield (BN) and expects full-year 2025 to be better than previously expected. It has also secured Oracle (ORCL), Amazon (AMZN), and Equinix (EQIX) as customers.

Why I’d buy BE stock
Bloom Energy is still in its discovery phase, and there’s more room for growth as this company already has a solid customer base and is expanding quickly. The new “lighthouse” customers’ management has indicated that they’re looking at a long-term AI buildout, so securing independent energy capacity is critical for them.

Moreover, seasonal trends are in your favor. November has been particularly good for BE stock, and I expect it to do very well next month.

BE stock can keep rallying as the name becomes more attached to the broader data center story. I would look at $200 or more by year-end at this pace.

— Omor IE

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Source: Money Morning