SCP Investment LP Takes Position in Bloom Energy Corporation (NYSE:BE)

Key Points

• SCP Investment LP acquired a new stake in Bloom Energy Corporation (NYSE: BE) during the 1st quarter, purchasing 12,808 shares valued at approximately $252,000.
• Bloom Energy reported an earnings per share (EPS) of $0.10 for the quarter, significantly exceeding analysts' expectations of $0.02 and reflecting a 19.5% year-over-year increase in revenue.
• Several institutional investors have increased their stakes in Bloom Energy, with insiders recently selling shares, indicating a shift in investor sentiment towards the stock.

SCP Investment LP acquired a new stake in Bloom Energy Corporation (NYSE:BE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,808 shares of the company's stock, valued at approximately $252,000.

Several other institutional investors and hedge funds have also modified their holdings of BE. Harbour Investments Inc. increased its stake in shares of Bloom Energy by 2,160.0% in the 1st 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. Quarry LP purchased a new position in shares of Bloom Energy in the 4th quarter valued at about $35,000. ORG Wealth Partners LLC purchased a new position in shares of Bloom Energy in the 1st quarter valued at about $41,000. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Bloom Energy in the 4th quarter valued at about $49,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Bloom Energy by 47.2% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,373 shares of the company's stock valued at $66,000 after purchasing an additional 1,081 shares in the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Bloom Energy Stock Down 1.5%

BE opened at $36.84 on Friday. The business's 50-day simple moving average is $24.52 and its 200-day simple moving average is $22.47. The company has a debt-to-equity ratio of 2.07, a quick ratio of 2.39 and a current ratio of 3.44. Bloom Energy Corporation has a one year low of $9.02 and a one year high of $39.09. The stock has a market capitalization of $8.56 billion, a P/E ratio of 921.23 and a beta of 3.28.

Bloom Energy (NYSE:BE - Get Free Report) last posted its 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 7.03% and a net margin of 1.45%. The business had revenue of $401.24 million for the quarter, compared to analysts' expectations of $382.23 million. During the same quarter in the previous year, the firm earned ($0.06) earnings per share. The business's revenue was up 19.5% compared to the same quarter last year. Analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Insider Activity

In other news, insider Maciej Kurzymski sold 8,733 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $22.79, for a total transaction of $199,025.07. Following the sale, the insider owned 109,860 shares of the company's stock, valued at $2,503,709.40. The trade was a 7.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Shawn Marie Soderberg sold 2,780 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $19.72, for a total value of $54,821.60. Following the sale, the insider directly owned 152,890 shares in the company, valued at $3,014,990.80. This trade represents a 1.79% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 63,513 shares of company stock valued at $1,261,765. Insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

BE has been the subject of several research reports. Roth Mkm cut their price objective on Bloom Energy from $26.00 to $20.00 and set a "neutral" rating for the company in a research note on Wednesday, April 16th. Morgan Stanley boosted their price objective on Bloom Energy from $35.00 to $44.00 and gave the stock an "overweight" rating in a research note on Friday. HSBC upgraded Bloom Energy from a "hold" rating to a "buy" rating and set a $25.00 price objective for the company in a research note on Tuesday, April 8th. Susquehanna boosted their price objective on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research note on Monday, July 21st. Finally, Robert W. Baird cut their price objective on Bloom Energy from $32.00 to $27.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.39.

About Bloom Energy

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.

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