Ursa Fund Management LLC Has $197,000 Position in Bloom Energy Corporation $BE

Key Points

• Ursa Fund Management LLC reduced its holdings in Bloom Energy Corporation by 33.3%, owning 10,000 shares worth $197,000 after selling 5,000 shares in Q1.
• Notable institutional investments included Banque Transatlantique SA increasing its stake by 227.6% and Harbour Investments Inc. growing its position by 2,160.0% during the same quarter.
• Bloom Energy's stock saw positive earnings results, reporting $0.10 EPS for the quarter, significantly surpassing the expected $0.02, and revenue increased by 19.5% year-over-year.

Ursa Fund Management LLC cut its stake in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 33.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the company's stock after selling 5,000 shares during the period. Bloom Energy accounts for 0.5% of Ursa Fund Management LLC's holdings, making the stock its 12th largest position. Ursa Fund Management LLC's holdings in Bloom Energy were worth $197,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BE. Banque Transatlantique SA grew its holdings in Bloom Energy by 227.6% in the 1st quarter. Banque Transatlantique SA now owns 1,671 shares of the company's stock valued at $30,000 after buying an additional 1,161 shares in the last quarter. Harbour Investments Inc. boosted its position in shares of Bloom Energy by 2,160.0% in the first quarter. Harbour Investments Inc. now owns 1,582 shares of the company's stock valued at $31,000 after acquiring an additional 1,512 shares during the period. NewEdge Advisors LLC boosted its position in shares of Bloom Energy by 674.7% in the first quarter. NewEdge Advisors LLC now owns 1,867 shares of the company's stock valued at $37,000 after acquiring an additional 1,626 shares during the period. Vision Financial Markets LLC acquired a new position in shares of Bloom Energy in the first quarter valued at about $39,000. Finally, ORG Wealth Partners LLC bought a new position in Bloom Energy during the first quarter worth about $41,000. 77.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Mizuho boosted their price objective on shares of Bloom Energy from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Monday, July 14th. Robert W. Baird boosted their price target on Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. Morgan Stanley raised 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, August 1st. JPMorgan Chase & Co. upgraded Bloom Energy from a "neutral" rating to an "overweight" rating and upped their target price for the company from $18.00 to $33.00 in a research report on Wednesday, July 9th. Finally, Susquehanna raised their price target on Bloom Energy from $26.00 to $30.00 and gave the stock a "positive" rating in a research report on Monday, July 21st. 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.61.

Insider Activity at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 37,955 shares of the business's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $53.39, for a total transaction of $2,026,417.45. Following the sale, the chief executive officer owned 2,378,663 shares of the company's stock, valued at approximately $126,996,817.57. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Aman Joshi sold 4,870 shares of the stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $43.36, for a total value of $211,163.20. Following the completion of the transaction, the insider owned 224,361 shares of the company's stock, valued at $9,728,292.96. The trade was a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 308,477 shares of company stock valued at $14,924,815. 3.60% of the stock is currently owned by company insiders.

Bloom Energy Price Performance

Shares of BE stock traded down $1.39 during trading hours on Friday, reaching $65.90. The company's stock had a trading volume of 8,000,256 shares, compared to its average volume of 7,660,602. Bloom Energy Corporation has a fifty-two week low of $9.02 and a fifty-two week high of $68.74. The firm's 50 day simple moving average is $39.96 and its 200-day simple moving average is $27.18. The company has a quick ratio of 3.21, a current ratio of 4.99 and a debt-to-equity ratio of 2.18. The company has a market capitalization of $15.42 billion, a price-to-earnings ratio of 1,647.91 and a beta of 3.28.

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

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.