Shares in Bloom Energy (BE), the solid-oxide fuel cell systems developer, rose by about 4% to $245.56 per share on Thursday afternoon. This came even after short seller Hunterbrook said in a new report about its AI cloud partner Nebius (NBIS) that it remains short on Bloom. Interestingly, BE stock rallied by more than 12% to $237.16 on Wednesday. This came after Nebius disclosed that it had switched to Bloom’s fuel-cell systems to power its planned 300-megawatt AI data center in Vineland, New Jersey.
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BE has a long & short ETF? Explore BEX & BEZWhy Hunterbrook Remains Short on Bloom Energy
In the new report, Hunterbrook accused Nebius of not making a key disclosure. It said Nebius failed to tell investors during its Q2 2026 earnings call on Wednesday that it recently received two stop-work orders on the Vineland project.
Hunterbrook operates as a hybrid investigative newsroom and hedge fund. In the report, it said Nebius on August 10 was ordered by City of Vineland officials to stop the installation of Bloom Energy’s fuel cell systems at the site. Nebius allegedly did not obtain permission for the installation.
Days earlier, on August 6, Nebius was also reportedly ordered to stop installing a liquefied natural gas tank at the site. Hunterbrook said Nebius did not disclose these orders to investors during the earnings call.
Instead, the New Jersey-based company told investors the project was “on track” when asked about the project, Hunterbrook reported.
What Nebius Said About the Project
During the earnings call, Nebius said it was seeking approval for a revised site plan. The plan reflects Bloom as its new power partner. It also said a public hearing on the project is normal and has already been factored into the project’s timeline.
However, Hunterbrook said Vineland officials might pursue a court injunction against DataOne if the orders are ignored. DataOne is the firm constructing the power infrastructure at Nebius’s site.
Of note, Hunterbrook in July also took a short position in Bloom Energy. It flagged the company’s scandium supply chain claims. It also highlighted risks tied to Bloom’s capacity growth targets.
Is Bloom Energy a Good Stock to Buy Now?
On Wall Street, analysts remain cautious of Bloom Energy’s shares and have a Moderate Buy consensus rating on the stock. This is based on 10 Buys and nine Holds issued over the past three months.
However, the average BE price target of $271.58 implies about 12% upside (see BE stock forecast here).
