Ursa Fund Management LLC Decreases Stake in Bloom Energy Co. (NYSE:BE)

Ursa Fund Management LLC cut its position in Bloom Energy Co. (NYSE:BE) by 80.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,000 shares of the company’s stock after selling 62,000 shares during the period. Bloom Energy makes up 0.4% of Ursa Fund Management LLC’s holdings, making the stock its 15th largest position. Ursa Fund Management LLC’s holdings in Bloom Energy were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of BE. John G Ullman & Associates Inc. lifted its holdings in Bloom Energy by 56.6% during the fourth quarter. John G Ullman & Associates Inc. now owns 81,200 shares of the company’s stock valued at $1,202,000 after purchasing an additional 29,350 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Bloom Energy by 42.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 382,276 shares of the company’s stock valued at $5,658,000 after buying an additional 113,919 shares during the period. Flputnam Investment Management Co. boosted its position in shares of Bloom Energy by 57.2% during the 4th quarter. Flputnam Investment Management Co. now owns 157,676 shares of the company’s stock worth $2,334,000 after purchasing an additional 57,397 shares during the period. Waldron Private Wealth LLC lifted its stake in Bloom Energy by 44.9% during the 4th quarter. Waldron Private Wealth LLC now owns 80,945 shares of the company’s stock worth $1,197,000 after acquiring an additional 25,075 shares in the last quarter. Finally, NewEdge Wealth LLC acquired a new position in shares of Bloom Energy in the fourth quarter valued at approximately $196,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Shawn Marie Soderberg sold 13,120 shares of the business’s stock in a transaction on Friday, February 16th. The shares were sold at an average price of $9.34, for a total value of $122,540.80. Following the transaction, the executive vice president now owns 73,946 shares in the company, valued at $690,655.64. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Kr Sridhar sold 50,746 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $9.74, for a total transaction of $494,266.04. Following the transaction, the chief executive officer now directly owns 2,702,608 shares in the company, valued at $26,323,401.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $9.34, for a total transaction of $122,540.80. Following the completion of the sale, the executive vice president now owns 73,946 shares of the company’s stock, valued at approximately $690,655.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 74,989 shares of company stock valued at $725,292. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BE. Bank of America cut shares of Bloom Energy from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $16.00 to $10.00 in a report on Monday, January 29th. Robert W. Baird raised shares of Bloom Energy from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $16.00 to $22.00 in a research note on Wednesday, January 10th. KeyCorp downgraded Bloom Energy from an “overweight” rating to a “sector weight” rating in a research report on Friday, February 16th. Redburn Atlantic assumed coverage on shares of Bloom Energy in a research note on Tuesday, February 6th. They set a “neutral” rating and a $12.50 price objective for the company. Finally, JPMorgan Chase & Co. cut shares of Bloom Energy from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $19.00 to $14.00 in a research report on Friday, February 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Bloom Energy has an average rating of “Moderate Buy” and an average price target of $16.69.

Bloom Energy Stock Performance

NYSE BE traded down $0.21 during trading on Wednesday, hitting $9.62. The stock had a trading volume of 728,869 shares, compared to its average volume of 5,555,477. The company has a current ratio of 3.60, a quick ratio of 2.53 and a debt-to-equity ratio of 2.41. Bloom Energy Co. has a 12 month low of $8.41 and a 12 month high of $18.76. The company’s 50-day moving average price is $10.16 and its two-hundred day moving average price is $11.71.

Bloom Energy (NYSE:BE) last issued its quarterly earnings data on Thursday, February 15th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.11. Bloom Energy had a negative return on equity of 23.88% and a negative net margin of 22.66%. The firm had revenue of $356.92 million for the quarter, compared to analyst estimates of $481.90 million. On average, equities analysts forecast that Bloom Energy Co. will post -0.16 EPS for the current year.

Bloom Energy Company 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.