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

Wesbanco Bank Inc. lifted its position in shares of Bloom Energy Co. (NYSE:BE) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 107,000 shares of the company’s stock after purchasing an additional 4,000 shares during the period. Wesbanco Bank Inc.’s holdings in Bloom Energy were worth $2,376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Chesley Taft & Associates LLC purchased a new stake in Bloom Energy during the 4th quarter worth approximately $225,000. M.E. Allison & CO. Inc. acquired a new stake in shares of Bloom Energy during the fourth quarter worth approximately $711,000. Joule Financial LLC acquired a new stake in Bloom Energy in the fourth quarter valued at $348,000. Cypress Wealth Services LLC acquired a new stake in Bloom Energy in the fourth quarter valued at $275,000. Finally, Tsfg LLC boosted its stake in Bloom Energy by 20.2% during the 4th quarter. Tsfg LLC now owns 12,032 shares of the company’s stock valued at $267,000 after acquiring an additional 2,026 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BE. Robert W. Baird upped their target price on shares of Bloom Energy from $15.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Jefferies Financial Group upped their price objective on Bloom Energy from $12.00 to $22.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Hsbc Global Res upgraded Bloom Energy to a “hold” rating in a research report on Wednesday, November 20th. Piper Sandler upped their price target on Bloom Energy from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley lifted their price objective on shares of Bloom Energy from $20.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $23.08.

Bloom Energy Stock Up 8.5 %

BE stock opened at $27.69 on Friday. The firm’s 50-day moving average is $24.31 and its two-hundred day moving average is $15.96. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of -49.45 and a beta of 3.06. Bloom Energy Co. has a 52 week low of $8.41 and a 52 week high of $28.70. The company has a current ratio of 3.36, a quick ratio of 2.33 and a debt-to-equity ratio of 3.09.

Insider Activity at Bloom Energy

In related news, CEO Kr Sridhar sold 46,697 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $25.00, for a total transaction of $1,167,425.00. Following the completion of the sale, the chief executive officer now directly owns 1,822,496 shares in the company, valued at approximately $45,562,400. This trade represents a 2.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Shawn Marie Soderberg sold 1,289 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the transaction, the insider now directly owns 168,561 shares in the company, valued at $4,139,858.16. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 122,528 shares of company stock worth $3,061,501 over the last quarter. 8.81% of the stock is currently owned by company insiders.

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.