Wesbanco Bank Inc. Has $4.57 Million Holdings in Bloom Energy Corporation $BE

Key Points

• Wesbanco Bank Inc. increased its holdings in Bloom Energy by 29.9%, owning a total of 191,000 shares valued at approximately $4.57 million as of the latest report.
• Analysts have raised their price targets for Bloom Energy stock significantly, with Morgan Stanley setting a target at $44.00 and Wells Fargo at $65.00, indicating strong market confidence.
• Insider sales were noted, with significant transactions from insiders, including one selling 20,000 shares worth $900,000, highlighting potential shifts in ownership dynamics.

Wesbanco Bank Inc. increased its position in shares of Bloom Energy Corporation (NYSE:BE - Free Report) by 29.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 191,000 shares of the company's stock after buying an additional 44,000 shares during the period. Wesbanco Bank Inc. owned 0.08% of Bloom Energy worth $4,569,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BE. Advisors Asset Management Inc. raised its holdings in shares of Bloom Energy by 43.0% during the first quarter. Advisors Asset Management Inc. now owns 86,665 shares of the company's stock valued at $1,704,000 after purchasing an additional 26,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Bloom Energy by 634.2% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 598,327 shares of the company's stock worth $11,763,000 after purchasing an additional 516,833 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Bloom Energy by 662.4% in the first quarter. Teacher Retirement System of Texas now owns 73,518 shares of the company's stock valued at $1,445,000 after acquiring an additional 63,875 shares during the last quarter. Comerica Bank boosted its stake in Bloom Energy by 5.8% in the first quarter. Comerica Bank now owns 88,554 shares of the company's stock valued at $1,741,000 after acquiring an additional 4,885 shares during the last quarter. Finally, Torray Investment Partners LLC purchased a new position in Bloom Energy in the first quarter valued at about $904,000. Institutional investors own 77.04% of the company's stock.

Wall Street Analysts Forecast Growth

BE has been the topic of a number of recent research reports. Morgan Stanley upped their price target on shares of Bloom Energy from $35.00 to $44.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. UBS Group upped their price target on shares of Bloom Energy from $29.00 to $41.00 and gave the company a "buy" rating in a research note on Friday, July 25th. JPMorgan Chase & Co. upgraded shares of Bloom Energy from a "neutral" rating to an "overweight" rating and upped their price target for the company from $18.00 to $33.00 in a research note on Wednesday, July 9th. Wells Fargo & Company upped their price target on shares of Bloom Energy from $38.00 to $65.00 and gave the company an "equal weight" rating in a research note on Friday. Finally, Robert W. Baird upped their price target on shares of Bloom Energy from $45.00 to $61.00 and gave the company an "outperform" rating in a research note on Thursday, September 4th. 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 issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $29.61.

Insider Activity at Bloom Energy

In other news, 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 transaction, the insider owned 224,361 shares of the company's stock, valued at $9,728,292.96. This represents a 2.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Satish Chitoori sold 20,000 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the insider directly owned 234,493 shares in the company, valued at $10,552,185. The trade was a 7.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 299,331 shares of company stock worth $14,716,476 over the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Bloom Energy Stock Performance

NYSE BE opened at $67.13 on Monday. Bloom Energy Corporation has a 1 year low of $9.02 and a 1 year high of $68.74. The company has a debt-to-equity ratio of 2.18, a current ratio of 4.99 and a quick ratio of 3.21. The stock has a market capitalization of $15.71 billion, a PE ratio of 1,678.67 and a beta of 3.28. The company's 50 day simple moving average is $40.82 and its two-hundred day simple moving average is $27.55.

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

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