Ursa Fund Management LLC Buys New Position in Bloom Energy Co. (NYSE:BE)

Ursa Fund Management LLC bought a new stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,000 shares of the company's stock, valued at approximately $333,000. Bloom Energy makes up approximately 0.0% of Ursa Fund Management LLC's holdings, making the stock its 7th largest holding.

Several other hedge funds also recently added to or reduced their stakes in BE. Sender Co & Partners Inc. acquired a new position in shares of Bloom Energy in the fourth quarter valued at about $283,000. Select Equity Group L.P. boosted its stake in shares of Bloom Energy by 125.5% in the fourth quarter. Select Equity Group L.P. now owns 278,515 shares of the company's stock worth $6,186,000 after buying an additional 154,993 shares during the last quarter. SIR Capital Management L.P. boosted its stake in shares of Bloom Energy by 155.1% in the fourth quarter. SIR Capital Management L.P. now owns 572,798 shares of the company's stock worth $12,722,000 after buying an additional 348,279 shares during the last quarter. SPX Gestao de Recursos Ltda purchased a new stake in shares of Bloom Energy in the fourth quarter worth about $4,442,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Bloom Energy by 184.7% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 404,204 shares of the company's stock worth $9,209,000 after buying an additional 262,247 shares during the last quarter. 77.04% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on BE. Redburn Atlantic downgraded Bloom Energy from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $14.50 to $10.00 in a research note on Wednesday, April 9th. TD Cowen upped their target price on Bloom Energy from $13.00 to $20.00 and gave the stock a "hold" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. upped their target price on Bloom Energy from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, January 23rd. Truist Financial lowered their price target on Bloom Energy from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Finally, Mizuho upgraded Bloom Energy from a "neutral" rating to an "outperform" rating and lowered their price target for the stock from $28.00 to $26.00 in a research report on Monday, May 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.47.

Bloom Energy Trading Down 4.1%

BE opened at $19.29 on Tuesday. The firm has a market cap of $4.48 billion, a P/E ratio of -34.45 and a beta of 3.25. The business has a fifty day simple moving average of $19.34 and a 200-day simple moving average of $21.85. Bloom Energy Co. has a 52 week low of $9.02 and a 52 week high of $29.83. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09.

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

Insider Activity at Bloom Energy

In other news, CEO Kr Sridhar sold 42,383 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $19.14, for a total transaction of $811,210.62. Following the sale, the chief executive officer now 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Satish Chitoori sold 1,020 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total value of $25,591.80. Following the sale, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This trade represents a 0.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,375 shares of company stock worth $1,053,445 in the last quarter. Company insiders own 3.60% of the company's stock.

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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