Firsthand Capital Management Inc. Acquires 5,000 Shares of Bloom Energy Corporation $BE

Firsthand Capital Management Inc. grew its holdings in Bloom Energy Corporation (NYSE:BE) by 50.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Bloom Energy accounts for 0.7% of Firsthand Capital Management Inc.’s portfolio, making the stock its 27th largest holding. Firsthand Capital Management Inc.’s holdings in Bloom Energy were worth $295,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of BE. Harbour Investments Inc. raised its position in shares of Bloom Energy by 2,160.0% during 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 during the period. Quarry LP bought a new stake in Bloom Energy in the 4th quarter valued at $35,000. Vision Financial Markets LLC bought a new stake in Bloom Energy in the 1st quarter valued at $39,000. ORG Wealth Partners LLC bought a new stake in Bloom Energy in the 1st quarter valued at $41,000. Finally, Gordian Capital Singapore Pte Ltd bought a new stake in Bloom Energy in the 4th quarter valued at $49,000. 77.04% of the stock is currently owned by institutional investors.

Insider Activity at Bloom Energy

In other Bloom Energy news, insider Aman Joshi sold 4,870 shares of Bloom Energy stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $43.36, for a total transaction of $211,163.20. Following the completion of the sale, the insider directly owned 224,361 shares in the company, valued at $9,728,292.96. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kr Sridhar sold 37,955 shares of Bloom Energy stock in a transaction dated 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. This represents a 1.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 308,477 shares of company stock valued at $14,924,815 in the last ninety days. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Roth Capital lifted their price target on shares of Bloom Energy from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Morgan Stanley boosted their target price on shares of Bloom Energy from $35.00 to $44.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Susquehanna lifted their price target on shares of Bloom Energy from $26.00 to $30.00 and gave the stock a “positive” rating in a research note on Monday, July 21st. Wells Fargo & Company boosted their price objective on shares of Bloom Energy from $22.00 to $38.00 and gave the company an “equal weight” rating in a research report on Friday, August 1st. Finally, Piper Sandler lowered their price target on shares of Bloom Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, May 5th. Two analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, seven have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.39.

Bloom Energy Stock Down 3.3%

NYSE:BE opened at $53.00 on Friday. The firm has a market capitalization of $12.40 billion, a P/E ratio of 1,325.33 and a beta of 3.28. Bloom Energy Corporation has a 1-year low of $9.02 and a 1-year high of $55.07. The company’s fifty day moving average price is $33.89 and its 200-day moving average price is $25.24. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21.

Bloom Energy (NYSE:BE) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. The firm had revenue of $401.24 million for the quarter, compared to the consensus estimate of $382.23 million. Bloom Energy had a net margin of 1.45% and a return on equity of 6.80%. The firm’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.06) earnings per share. Bloom Energy has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Bloom Energy Corporation will post -0.23 EPS for the current year.

Bloom Energy 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.