Wesbanco Bank Inc. Raises Stock Position in Bloom Energy Co. (NYSE:BE)

Wesbanco Bank Inc. boosted its position in Bloom Energy Co. (NYSE:BE) by 66.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,000 shares of the company’s stock after purchasing an additional 41,000 shares during the quarter. Wesbanco Bank Inc.’s holdings in Bloom Energy were worth $1,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. BNP Paribas purchased a new stake in shares of Bloom Energy in the first quarter worth $38,000. ORG Partners LLC bought a new position in Bloom Energy in the 2nd quarter worth about $40,000. Quest Partners LLC boosted its position in shares of Bloom Energy by 2,780.0% during the 2nd quarter. Quest Partners LLC now owns 3,600 shares of the company’s stock valued at $44,000 after acquiring an additional 3,475 shares during the last quarter. Gilliland Jeter Wealth Management LLC bought a new stake in shares of Bloom Energy during the 2nd quarter valued at about $53,000. Finally, Mather Group LLC. purchased a new position in shares of Bloom Energy during the second quarter worth about $66,000. 77.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BE has been the subject of several research analyst reports. Truist Financial lifted their target price on shares of Bloom Energy from $12.00 to $13.00 and gave the company a “hold” rating in a research report on Monday, August 12th. UBS Group cut their target price on shares of Bloom Energy from $25.00 to $23.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Bank of America raised their price target on Bloom Energy from $8.00 to $9.00 and gave the company an “underperform” rating in a research report on Wednesday, July 17th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $15.00 price target on shares of Bloom Energy in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. increased their price objective on Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $15.88.

Bloom Energy Price Performance

Shares of BE stock opened at $10.47 on Wednesday. The company has a debt-to-equity ratio of 3.43, a quick ratio of 3.33 and a current ratio of 4.65. Bloom Energy Co. has a fifty-two week low of $8.41 and a fifty-two week high of $18.14. The firm has a market cap of $2.38 billion, a P/E ratio of -7.75 and a beta of 2.69. The business’s 50 day moving average price is $10.86 and its 200-day moving average price is $12.19.

Bloom Energy (NYSE:BE) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting the consensus estimate of ($0.06). Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. The business had revenue of $335.80 million for the quarter, compared to analysts’ expectations of $307.73 million. During the same quarter in the previous year, the business posted ($0.32) earnings per share. The firm’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities research analysts anticipate that Bloom Energy Co. will post -0.25 earnings per share 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.