On August 18, Bloom Energy Corp declined 3.01% overnight, trading at $225.17/share, with turnover of $11.37 million.

On the news front, Jefferies raised its price target on the company from $188 to $229 while maintaining a Hold rating. Notably, the updated target price remains below the stock's prior trading level, signaling limited upside from current valuation levels. The Heavy Electrical Equipment sector broadly weakened, with GE Vernova down 1.02%, X-Energy down 1.59%, and NuScale Power down 0.98%, adding sector-wide selling pressure.

The stock had previously rallied sharply after Q2 quarterly revenue surpassed $1 billion for the first time and full-year guidance was raised to $3.9-4.2 billion. That significant short-term accumulated gain intensified profit-taking pressure, which combined with sector weakness accelerated capital outflows.

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