Firsthand Capital Management Inc. Has $295,000 Position in Bloom Energy Corporation $BE

Key Points

• Firsthand Capital Management Inc. increased its holdings in Bloom Energy Corporation by 50% during the first quarter, bringing its total ownership to 15,000 shares, valued at approximately $295,000.
• Insider activity revealed that Aman Joshi sold 4,870 shares and CEO Kr Sridhar sold 37,955 shares of Bloom Energy stock, indicating a slight decrease in their ownership percentages.
• Bloom Energy reported Q2 earnings of $0.10 per share, surpassing analysts' expectations, with a revenue of $401.24 million, reflecting a 19.5% year-over-year increase.

Firsthand Capital Management Inc. grew its position in Bloom Energy Corporation (NYSE:BE - Free Report) by 50.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,000 shares of the company's stock after buying an additional 5,000 shares during the quarter. Bloom Energy makes up approximately 0.7% of Firsthand Capital Management Inc.'s portfolio, making the stock its 27th largest position. Firsthand Capital Management Inc.'s holdings in Bloom Energy were worth $295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Bloom Energy during the fourth quarter valued at approximately $35,000. Harbour Investments Inc. grew its position in Bloom Energy by 2,160.0% during the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after purchasing an additional 1,512 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Bloom Energy during the first quarter valued at approximately $41,000. Vision Financial Markets LLC purchased a new position in Bloom Energy during the first quarter valued at approximately $39,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Bloom Energy during the fourth quarter valued at approximately $49,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Bloom Energy

In other news, CEO Kr Sridhar sold 60,000 shares of the company's stock in a transaction that occurred on Wednesday, August 27th. The stock was sold at an average price of $49.70, for a total transaction of $2,982,000.00. Following the completion of the transaction, the chief executive officer directly owned 2,368,951 shares in the company, valued at $117,736,864.70. The trade was a 2.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Maciej Kurzymski sold 8,733 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $22.79, for a total value of $199,025.07. Following the sale, the insider owned 109,860 shares in the company, valued at approximately $2,503,709.40. This represents a 7.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 308,477 shares of company stock valued at $14,924,815. 3.60% of the stock is owned by corporate insiders.

Bloom Energy Stock Performance

Shares of BE stock traded up $2.41 during trading hours on Thursday, reaching $54.86. 8,156,363 shares of the company's stock were exchanged, compared to its average volume of 7,496,939. Bloom Energy Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $55.25. The stock has a market capitalization of $12.84 billion, a P/E ratio of 1,371.84 and a beta of 3.28. The business has a fifty day moving average price of $35.69 and a 200-day moving average price of $25.80. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18.

Bloom Energy (NYSE:BE - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.08. Bloom Energy had a return on equity of 6.80% and a net margin of 1.45%.The company had revenue of $401.24 million during the quarter, compared to analyst estimates of $382.23 million. During the same period in the previous year, the company earned ($0.06) earnings per share. The company's quarterly revenue was up 19.5% compared to the same quarter last year. Bloom Energy has set its FY 2025 guidance at EPS. Analysts predict that Bloom Energy Corporation will post -0.23 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on BE. JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $18.00 to $33.00 in a report on Wednesday, July 9th. Robert W. Baird increased their price objective on Bloom Energy from $45.00 to $61.00 and gave the stock an "outperform" rating in a report on Thursday. Susquehanna increased their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a report on Monday, July 21st. Mizuho increased their price objective on Bloom Energy from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, July 14th. Finally, Morgan Stanley increased their price objective on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $28.18.

Bloom Energy Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.