Bloom Energy (BE) stock rose 5% in pre-market trading on Wednesday, October 21, as shares bounced back from the previous session's decline. The rebound followed a broad sell-off in AI energy infrastructure names on Tuesday, which was triggered by a weak initial public offering from a South Korean data center company.

The stock was last priced at $233.75, leaving it 14.3% lower than it was a month ago. Even so, shares still change hands at more than three times their 52-week low of $75.70, a reminder of how far the stock has climbed over the past year.

Bloom designs and manufactures solid oxide fuel cells that generate electricity on-site, a profile that has made the company a closely followed name in the AI power trade as data center operators look to secure additional capacity.

What Wall Street Expects From Q3

Bloom Energy is scheduled to release its third-quarter results after the market close on Thursday, October 22, and traders appear to be positioning themselves ahead of the report.

Consensus expectations call for quarterly revenue of approximately $1.06 billion to $1.07 billion. If achieved, that would represent year-over-year growth of 107%, meaning the company's top line would nearly double from a year earlier. Bloom's most recent quarter set a high bar: the company reported revenue of $1.07 billion, up 166% year over year, and beat estimates for both earnings per share (EPS) and EBITDA. The company has rarely missed revenue estimates, and analysts have largely left their estimates unchanged over the past 30 days.

Options traders are pricing in a move of about 9% following the report, a wide expected range for a stock trading near $234.

Truist raised its price target on Bloom Energy from $218 to $240 on October 16, while keeping its Hold rating in place. The average analyst price target stands at about $285, roughly 22% above the current share price. RBC Capital Markets, meanwhile, has said Bloom is well placed for a strong recovery in the fourth quarter of 2026, adding to the pre-earnings focus on the company.

Oracle and the AI Power Story

Bloom is the main power supplier for Oracle's Project Jupiter campus in New Mexico, and analysts frequently point to project as a key source of demand for the company. Oracle said last week that construction at the campus is "progressing rapidly," a statement that lifted Bloom's stock before Tuesday's reversal.

The wider market was slightly firmer on Wednesday, with the Nasdaq up 0.7% and the S&P 500 up 0.2%.

Within the electrical equipment group, Acuity Brands is the only company to have reported earnings so far. It missed revenue estimates, with sales up 2.9%, and its stock did not move.

On average, the group is down 5.1% over the past month, a shallower decline than Bloom's 14.3% drop over the same stretch. The company will report its results on Thursday after the market close, where revenue against the roughly $1.06–$1.07 billion consensus range and any commentary on data center demand will be among the most closely watched items.

This article first appeared on CoinCentral.