82,000 Shares in Bloom Energy Co. (NYSE:BE) Purchased by Wesbanco Bank Inc.

Wesbanco Bank Inc. bought a new stake in Bloom Energy Co. (NYSE:BE - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 82,000 shares of the company's stock, valued at approximately $922,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Norges Bank bought a new position in Bloom Energy in the 4th quarter worth about $82,678,000. FMR LLC increased its stake in Bloom Energy by 168.8% in the 3rd quarter. FMR LLC now owns 3,524,361 shares of the company's stock worth $46,733,000 after purchasing an additional 2,213,167 shares in the last quarter. Electron Capital Partners LLC acquired a new stake in Bloom Energy during the 4th quarter worth about $27,796,000. Vanguard Group Inc. lifted its stake in Bloom Energy by 9.3% during the third quarter. Vanguard Group Inc. now owns 19,221,174 shares of the company's stock valued at $254,873,000 after buying an additional 1,635,738 shares in the last quarter. Finally, Coatue Management LLC boosted its holdings in shares of Bloom Energy by 28.3% in the fourth quarter. Coatue Management LLC now owns 4,436,901 shares of the company's stock worth $65,666,000 after buying an additional 978,053 shares during the period. 77.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Shawn Marie Soderberg sold 13,120 shares of the firm's stock in a transaction on Friday, February 16th. The stock was sold at an average price of $9.34, for a total value of $122,540.80. Following the completion of the sale, the executive vice president now directly owns 73,946 shares in the company, valued at $690,655.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Bloom Energy news, CEO Kr Sridhar sold 50,746 shares of the firm's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $9.74, for a total transaction of $494,266.04. Following the transaction, the chief executive officer now owns 2,702,608 shares in the company, valued at $26,323,401.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Shawn Marie Soderberg sold 13,120 shares of the firm's stock in a transaction dated Friday, February 16th. The stock was 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 approximately $690,655.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 74,989 shares of company stock worth $725,292. 8.81% of the stock is owned by corporate insiders.

Bloom Energy Price Performance

Shares of NYSE:BE traded up $0.36 during trading on Friday, reaching $11.80. The stock had a trading volume of 4,200,422 shares, compared to its average volume of 5,587,673. The business's 50-day moving average price is $10.32 and its 200 day moving average price is $11.66. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $18.76. The stock has a market capitalization of $2.65 billion, a PE ratio of -8.14 and a beta of 2.77. The company has a debt-to-equity ratio of 2.41, a current ratio of 3.60 and a quick ratio of 2.53.

Bloom Energy (NYSE:BE - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported $0.05 earnings per share 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 company had revenue of $356.92 million during the quarter, compared to analyst estimates of $481.90 million. As a group, equities analysts predict that Bloom Energy Co. will post -0.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Bloom Energy from an "overweight" rating to a "neutral" rating and dropped their price objective for the company from $19.00 to $14.00 in a research note on Friday, February 16th. Royal Bank of Canada lowered their target price on Bloom Energy from $21.00 to $14.00 and set an "outperform" rating on the stock in a research note on Friday, February 16th. Raymond James cut their price target on Bloom Energy from $20.00 to $16.00 and set an "outperform" rating for the company in a research note on Friday, February 16th. Morgan Stanley reissued an "overweight" rating and issued a $22.00 price target on shares of Bloom Energy in a research note on Monday, March 25th. Finally, Susquehanna cut their price objective on shares of Bloom Energy from $18.00 to $16.00 and set a "positive" rating on the stock in a research report on Wednesday, March 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $16.69.

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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