What happened Shares of fuel cell maker Bloom Energy (NYSE: BE) plunged 18.9% in July, according to data provided by S&P Global Market Intelligence. Investors seem to be booking some profits in the stock, which is still up 75% in a year. So what An increased focus on clean energy in the last couple of years from governments and environmental bodies captivated investors' attention, too. Stocks of companies focused on clean energy soared significantly as a result. This caused drastically high valuations in some cases, with investors questioning if the share prices and valuations have gotten a bit ahead from what the companies' fundamentals warrant. Investors also seem to be focusing on risks relating to emerging clean energy technologies such as fuel cells. Image source: Getty Images. All fuel cell stocks, including Bloom Energy, have seen some correction this year. This trend continued in the last month. Notably, Bloom Energy stock fell less compared to Plug Power and FuelCell Energy, which were down 20.2% and 28.9%, respectively, in July. Now what Bloom Energy entered a partnership with renewable energy technology company Heliogen last month. The companies together plan to produce green hydrogen using only concentrated solar power and water. Moreover, Bloom Energy announced a 4.2-megawatt project in South Korea with its partner SK ecoplant (formerly SK Engineering and Construction). Bloom Energy stock also got an upward price target revision from J.P. Morgan in July. All the above positive news explains why Bloom Energy stock fell less compared to its peers in July. Yet these were not enough to allow the stock to escape from the negative momentum around fuel cell stocks in general during the month. In addition to profitability and valuation concerns, increasing competition also impacted fuel cell stock prices in July. Fuel cell companies have yet to prove they can generate sustainable profits through their products. Until such time, the stock prices will likely remain volatile. Fuel cell stocks, including Bloom Energy, face risks. Still, Bloom Energy stock looks comparatively better in terms of progress on key financial metrics, as well as valuation. Investors should gain further insight into the company's progress when it reports its second-quarter results on Aug. 4. 10 stocks we like better than Bloom Energy CorpWhen our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and Bloom Energy Corp wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of June 7, 2021 JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Rekha Khandelwal has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source