Wesbanco Bank Inc. Has $2.89 Million Stake in Bloom Energy Co. (NYSE:BE)

Wesbanco Bank Inc. boosted its stake in shares of Bloom Energy Co. (NYSE:BE - Free Report) by 37.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 147,000 shares of the company's stock after purchasing an additional 40,000 shares during the quarter. Wesbanco Bank Inc. owned approximately 0.06% of Bloom Energy worth $2,890,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mainstream Capital Management LLC acquired a new position in Bloom Energy during the 4th quarter worth $28,000. Smartleaf Asset Management LLC boosted its position in Bloom Energy by 291.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,255 shares of the company's stock worth $28,000 after acquiring an additional 934 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Bloom Energy by 120.5% in the fourth quarter. Jones Financial Companies Lllp now owns 1,486 shares of the company's stock valued at $33,000 after buying an additional 812 shares during the period. Quarry LP acquired a new stake in shares of Bloom Energy in the fourth quarter valued at $35,000. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Bloom Energy in the fourth quarter valued at $49,000. Institutional investors and hedge funds own 77.04% of the company's stock.

Insider Buying and Selling

In related news, insider Satish Chitoori sold 1,020 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares of the company's stock, valued at approximately $4,482,479.04. This represents a 0.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Shawn Marie Soderberg sold 1,496 shares of the stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $19.89, for a total value of $29,755.44. Following the transaction, the insider now directly owns 229,682 shares of the company's stock, valued at $4,568,374.98. This trade represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,375 shares of company stock valued at $1,053,445 over the last three months. Company insiders own 3.60% of the company's stock.

Bloom Energy Stock Performance

Shares of NYSE:BE traded down $0.31 during trading on Friday, hitting $21.94. 2,815,597 shares of the stock were exchanged, compared to its average volume of 6,362,144. Bloom Energy Co. has a 1-year low of $9.02 and a 1-year high of $29.83. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of -39.18 and a beta of 3.20. The company's fifty day simple moving average is $18.73 and its 200-day simple moving average is $22.08. The company has a debt-to-equity ratio of 3.09, a quick ratio of 2.33 and a current ratio of 3.36.

Bloom Energy (NYSE:BE - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.03 EPS for the quarter, topping the consensus estimate of ($0.07) by $0.10. The business had revenue of $326.02 million during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned ($0.17) EPS. Sell-side analysts expect that Bloom Energy Co. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BE shares. Mizuho upgraded Bloom Energy from a "neutral" rating to an "outperform" rating and cut their price objective for the company from $28.00 to $26.00 in a report on Monday, May 5th. Piper Sandler cut their target price on Bloom Energy from $31.00 to $26.00 and set an "overweight" rating on the stock in a research report on Monday, May 5th. Jefferies Financial Group cut their target price on Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Morgan Stanley cut their target price on Bloom Energy from $35.00 to $30.00 and set an "overweight" rating on the stock in a research report on Thursday, May 1st. Finally, BMO Capital Markets reaffirmed a "market perform" rating on shares of Bloom Energy in a research report on Friday, February 28th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Bloom Energy presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.97.

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.