Bloom Energy Corporation (BE) stock fell nearly 9% on Monday as investors took profits after the stock's sharp 2026 rally, while lingering concerns tied to Oracle's Project Jupiter and broader weakness in growth stocks weighed on sentiment.

Project Jupiter Remains An Overhang

Concerns around Oracle's Project Jupiter data center development in New Mexico remain in focus after reports last week said Oracle Corp. (ORCL) invoked force majeure tied to the project.

Project Jupiter is expected to use Bloom Energy's gas-powered fuel cells. However, a key natural gas pipeline needed for the site has been delayed to Feb. 1, 2027, because of permitting setbacks.

Oracle said the project remains on schedule and that it remains committed to the development.

For Bloom Energy, any prolonged delay could push back fuel-cell deployments and the timing of related revenue recognition.

Bloom has previously said its growth outlook does not depend on one customer or project. During its second-quarter earnings call, management said its pipeline spans several customers and projects at different stages of development.

Legal Deadline Adds Pressure

Investors are also watching a federal securities class action involving Bloom Energy.

Monday marks the deadline for investors to seek lead-plaintiff status in the case. The lawsuit alleges Bloom Energy made misleading disclosures about its reliance on Chinese-sourced scandium oxide.

The allegations have not been proven.

Profit-Taking Follows Sharp Rally

Bloom Energy shares have surged more than 200% year-to-date.

That steep advance has left the stock vulnerable to profit-taking when negative headlines emerge or broader risk appetite weakens.

The Nasdaq fell 0.68% on Monday, while the S&P 500 declined 0.36%. Industrials were down about 0.6%.

Rising Treasury yields and inflation concerns also pressured high-beta growth stocks.

Technical Picture

Despite Monday's decline, Bloom Energy remains well above its longer-term moving averages.

The stock is about 30% above its 200-day simple moving average of $203.74 and roughly 15% above its 50-day average of $230.69.

However, it is only about 2% above its 20-day average of $259.23.

Its relative strength index stands at 53.86, which is considered neutral.

Analyst Outlook

The stock carries a Buy consensus rating and an average price forecast of $280.12 based on 37 analysts.

Mizuho maintained an Outperform rating on Sept. 14 and raised its price forecast to $351. Bernstein maintained Market Perform with a $282 price forecast on Aug. 27. Jefferies maintained Hold and raised its price forecast to $229 on Aug. 14.

Momentum And Growth Scores Stay Strong

Bloom Energy remains strong on momentum and growth in the market data rankings.

The stock has a momentum score of 99.11 and a growth score of 98.8. Its value score stands at 2.1, reflecting its premium valuation.

ETF Exposure

Bloom Energy is a major holding in several clean-energy ETFs.

The iShares Global Clean Energy ETF (ICLN) has a 9.19% weighting in the stock. The First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) has a 9.89% weighting, while the VanEck Low Carbon Energy ETF (SMOG) has a 7.24% weighting.

Price Action

Bloom Energy shares were down 8.45% at $264.31 at the time of publication Monday, according to market data.