Wesbanco Bank Inc. Has $1.09 Million Stock Holdings in Bloom Energy Co. (NYSE:BE)

Wesbanco Bank Inc. grew its stake in shares of Bloom Energy Co. (NYSE:BE) by 66.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 103,000 shares of the company’s stock after purchasing an additional 41,000 shares during the period. 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.

A number of other institutional investors and hedge funds also recently made changes to their positions in BE. Xponance Inc. increased its stake in Bloom Energy by 7.8% during the 2nd quarter. Xponance Inc. now owns 12,542 shares of the company’s stock valued at $154,000 after purchasing an additional 903 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of Bloom Energy by 2.7% during the second quarter. Arizona State Retirement System now owns 56,886 shares of the company’s stock valued at $696,000 after buying an additional 1,470 shares during the last quarter. Tocqueville Asset Management L.P. grew its holdings in shares of Bloom Energy by 3.1% during the first quarter. Tocqueville Asset Management L.P. now owns 59,250 shares of the company’s stock valued at $666,000 after buying an additional 1,800 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Bloom Energy by 6.2% during the first quarter. ProShare Advisors LLC now owns 46,518 shares of the company’s stock worth $523,000 after acquiring an additional 2,719 shares in the last quarter. Finally, BNP Paribas acquired a new stake in shares of Bloom Energy in the 1st quarter worth about $38,000. Institutional investors own 77.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BE. Truist Financial lifted their price target on Bloom Energy from $12.00 to $13.00 and gave the company a “hold” rating in a research note on Monday, August 12th. Jefferies Financial Group downgraded Bloom Energy from a “buy” rating to a “hold” rating and decreased their price target for the stock from $15.00 to $11.00 in a report on Friday, September 6th. Royal Bank of Canada restated an “outperform” rating and set a $15.00 price objective on shares of Bloom Energy in a research note on Thursday, June 20th. UBS Group reduced 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 note on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Bloom Energy from $12.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $15.88.

Bloom Energy Price Performance

Shares of NYSE:BE opened at $10.47 on Wednesday. The firm has a market capitalization of $2.38 billion, a PE ratio of -7.75 and a beta of 2.69. The company has a quick ratio of 3.33, a current ratio of 4.65 and a debt-to-equity ratio of 3.43. The company has a 50-day moving average price of $10.86 and a two-hundred day moving average price of $12.19. Bloom Energy Co. has a twelve month low of $8.41 and a twelve month high of $18.14.

Bloom Energy (NYSE:BE) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.06) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.06). The business had revenue of $335.80 million during the quarter, compared to analyst estimates of $307.73 million. Bloom Energy had a negative net margin of 21.37% and a negative return on equity of 11.90%. Bloom Energy’s revenue was up 11.5% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.32) EPS. Equities analysts forecast that Bloom Energy Co. will post -0.25 EPS for the current 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.