Udine Wealth Management Inc. Makes New $794,000 Investment in Bloom Energy Co. (NYSE:BE)

Udine Wealth Management Inc. acquired a new position in Bloom Energy Co. (NYSE:BE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,397 shares of the company's stock, valued at approximately $794,000. Bloom Energy makes up 0.5% of Udine Wealth Management Inc.'s portfolio, making the stock its 28th biggest holding.

A number of other hedge funds have also made changes to their positions in BE. Sender Co & Partners Inc. acquired a new position in shares of Bloom Energy during the 4th quarter valued at about $283,000. Select Equity Group L.P. increased its position in Bloom Energy by 125.5% during the 4th quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock worth $6,186,000 after purchasing an additional 154,993 shares in the last quarter. SIR Capital Management L.P. increased its position in Bloom Energy by 155.1% during the 4th quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock worth $12,722,000 after purchasing an additional 348,279 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new stake in Bloom Energy during the 4th quarter worth approximately $4,442,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Bloom Energy by 184.7% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock worth $9,209,000 after purchasing an additional 262,247 shares in the last quarter. Hedge funds and other institutional investors own 77.04% of the company's stock.

Bloom Energy Price Performance

BE stock traded up $1.36 during trading hours on Friday, hitting $21.81. 5,251,790 shares of the stock traded hands, compared to its average volume of 6,476,388. The stock has a 50-day simple moving average of $18.36 and a 200 day simple moving average of $22.17. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83. The company has a market cap of $5.06 billion, a P/E ratio of -38.95 and a beta of 3.20. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.10. Bloom Energy had a negative return on equity of 20.32% and a negative net margin of 10.29%. The business had revenue of $326.02 million during the quarter, compared to analysts' expectations of $294.27 million. During the same quarter last year, the business posted ($0.17) earnings per share. The company's quarterly revenue was up 38.5% on a year-over-year basis. Equities analysts forecast that Bloom Energy Co. will post -0.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BE. Hsbc Global Res upgraded Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Robert W. Baird reduced their target price 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. Piper Sandler reduced their target price on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Truist Financial reduced their target price on Bloom Energy from $22.00 to $19.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Finally, Mizuho upgraded Bloom Energy from a "neutral" rating to an "outperform" rating and reduced their target price for the company from $28.00 to $26.00 in a research note on Monday, May 5th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.97.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total value of $811,210.62. Following the transaction, the chief executive officer now directly owns 2,724,613 shares of the company's stock, valued at $52,149,092.82. The trade was a 1.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,496 shares of Bloom Energy stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $19.89, for a total value of $29,755.44. Following the sale, the insider now directly owns 229,682 shares in the company, valued at $4,568,374.98. The trade was a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,375 shares of company stock worth $1,053,445 in the last quarter. 3.60% of the stock is owned by company insiders.

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.