Bloom Energy Co. (NYSE:BE) Shares Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. lifted its stake in Bloom Energy Co. (NYSE:BE - Free Report) by 37.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 147,000 shares of the company's stock after buying an additional 40,000 shares during the period. Wesbanco Bank Inc. owned approximately 0.06% of Bloom Energy worth $2,890,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in Bloom Energy by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 19,234,329 shares of the company's stock worth $427,194,000 after buying an additional 356,317 shares during the period. Norges Bank acquired a new position in shares of Bloom Energy in the fourth quarter worth approximately $93,951,000. Fuller & Thaler Asset Management Inc. bought a new stake in Bloom Energy in the fourth quarter valued at approximately $61,968,000. Legal & General Group Plc raised its holdings in Bloom Energy by 7.3% during the 4th quarter. Legal & General Group Plc now owns 2,133,318 shares of the company's stock worth $47,381,000 after purchasing an additional 144,616 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Bloom Energy by 0.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,654,087 shares of the company's stock worth $36,737,000 after purchasing an additional 10,265 shares during the last quarter. Institutional investors and hedge funds own 77.04% of the company's stock.

Analysts Set New Price Targets

BE has been the subject of a number of research analyst reports. Mizuho upgraded Bloom Energy from a "neutral" rating to an "outperform" rating and lowered their target price for the stock from $28.00 to $26.00 in a report on Monday, May 5th. TD Cowen lifted their price objective on shares of Bloom Energy from $13.00 to $20.00 and gave the company a "hold" rating in a research note on Friday, February 28th. Jefferies Financial Group cut their target price on shares of Bloom Energy from $25.00 to $19.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Hsbc Global Res upgraded shares of Bloom Energy from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 8th. Finally, Susquehanna cut their price objective on shares of Bloom Energy from $33.00 to $26.00 and set a "positive" rating on the stock in a research report on Monday, April 14th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.97.

Insider Buying and Selling at Bloom Energy

In other Bloom Energy news, CEO Kr Sridhar sold 42,383 shares of Bloom Energy stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $19.14, for a total transaction of $811,210.62. Following the completion of the sale, the chief executive officer now directly owns 2,724,613 shares in the company, valued at $52,149,092.82. This trade represents a 1.53% 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, insider Shawn Marie Soderberg sold 1,496 shares of the company's stock in a transaction on Friday, May 16th. The stock was sold at an average price of $19.89, for a total value of $29,755.44. Following the sale, the insider now directly owns 229,682 shares in the company, valued at $4,568,374.98. This represents a 0.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,375 shares of company stock valued at $1,053,445 over the last quarter. 3.60% of the stock is currently owned by insiders.

Bloom Energy Stock Up 0.9%

Shares of NYSE BE traded up $0.20 during midday trading on Tuesday, reaching $21.63. 4,700,977 shares of the company's stock traded hands, compared to its average volume of 6,433,765. Bloom Energy Co. has a one year low of $9.02 and a one year high of $29.83. The stock's 50 day simple moving average is $18.37 and its 200-day simple moving average is $22.14. The company has a market cap of $5.02 billion, a price-to-earnings ratio of -38.62 and a beta of 3.20. 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 announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.03 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.10. Bloom Energy had a negative net margin of 10.29% and a negative return on equity of 20.32%. The firm had revenue of $326.02 million for the quarter, compared to analyst estimates of $294.27 million. During the same period in the previous year, the company earned ($0.17) earnings per share. The business's quarterly revenue was up 38.5% compared to the same quarter last year. On average, analysts predict that Bloom Energy Co. will post -0.23 EPS for the current fiscal 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.