• The report also claimed that many systems fall below Bloom’s disclosed efficiency benchmarks of a five-year replacement interval, with New York installations reporting a median of just 20 months. 
• It also alleged that Bloom’s 95% output benchmark was missed across most monitored projects, including in Delaware, California and South Korea.
• Earlier this month, Hunterbrook published a separate report accusing the firm of hiding its heavy reliance on Chinese suppliers for scandium.

Bloom Energy Corp.’s (BE) shares surged nearly 9% higher in the overnight session late Thursday even after short seller Hunterbrook Capital released a new report alleging that the company’s fuel cells do not meet the claimed performance metrics. 

This report marks Hunterbrook’s second attack on Bloom this month, but retail investors seem to be more focused on the company’s recent earnings performance and growing momentum in AI-powered data center demand. 

Hunterbrook’s fresh report comes shortly after Bloom reported stellar second-quarter results, reporting earnings of $0.78 per share on revenue of $1.07 billion, surpassing Wall Street expectations. 

CEO KR Sridhar said on the investor call that Bloom’s solutions have emerged as the standard for on-site power, with “all the major US hyperscalers and over a dozen US neoclouds, AI labs, and colocation data center operators have validated and approved our power solutions for their AI factories.”

However, Hunterbrook alleged in its latest report that “Bloom's fuel cells apparently don't deliver the efficiency, output, or lifespan the company once claimed.”

At the time of writing, Bloom Energy had not responded to Stocktwits’ request for comment at publication. The company had previously denied Hunterbrook’s earlier supply-chain allegations in an SEC filing. 

What Is Hunterbrook Claiming?

Hunterbrook alleged that Bloom Energy’s fuel cells consistently underperform the company’s claimed efficiency, output and lifespan targets that it has uncovered based on an analysis of 15 years of public data across the U.S. and South Korea, as well as the company’s self-reported federal filings across 126 plants in nine U.S. states.

The report also claimed that many systems fall below Bloom’s disclosed efficiency benchmarks of a five-year replacement interval, with New York installations reporting a median of just 20 months. 

It also alleged that Bloom’s 95% output benchmark was missed across most monitored projects, including in Delaware, California and South Korea. According to Hunterbrook, 105 California projects recorded at least one month below contractual performance thresholds, while 44 of 126 federally reported plants fell below Bloom’s lifetime efficiency guarantee. 

The short-seller also claimed that a Bloom project owner in New York told Hunterbrook that the company paid the group “a multimillion-dollar contractual penalty” after failing to meet one of its guarantees.

At the time of publication, Hunterbrook disclosed that it was short Bloom Energy stock and long on a basket of comparable securities.

This Isn’t Hunterbrook’s First Bearish Report

Earlier this month, Hunterbrook had published a report that accused the firm of hiding its heavy reliance on Chinese suppliers for scandium, a rare earth element required to manufacture its solid oxide fuel cells.

The short seller said that it used global trade data, corporate filings, and satellite imagery to unveil four separate China-linked trade routes, further claiming that a representative from Hunan Oriental Scandium confirmed that the Chinese company serves as Bloom Energy's largest scandium supplier.

Shares of the company fell about 6% following the report, and are now on track for their worst monthly performance in six years. However, the company has denied the initial allegations from Hunterbrook in an 8-K filing with the U.S. Securities and Exchange Commission. 

BE Stock: Retail Traders Push Back 

Several retail traders dismissed Hunterbrook’s latest report, with some claiming it to be another attempt to pressure the stock, calling for regulatory scrutiny, while others said the short-seller was “looking for another angle” after Bloom denied its previous allegations. 

One user posted a video interview after the short-seller’s first allegations, claiming that “the guy said BE does NOT power ANY datacenters...now with a new report, they do but they don't work well. Such a liar and will be investigated by SEC for manipulating stock.”

Another user said, “$BE SEC needs to investigate Hunterbrook.”

A third user said that it seemed like Hunterbrook was “getting desperate to find another angle.”

Despite recent pullbacks, BE stock is up nearly 110% so far in 2026. 

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