Bloom Energy Corporation $BE Shares Sold by Wesbanco Bank Inc.

Wesbanco Bank Inc. trimmed its position in shares of Bloom Energy Corporation (NYSE:BE) by 60.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 75,832 shares of the company’s stock after selling 115,168 shares during the period. Wesbanco Bank Inc.’s holdings in Bloom Energy were worth $6,413,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank purchased a new position in Bloom Energy in the second quarter valued at approximately $57,821,000. Man Group plc increased its position in shares of Bloom Energy by 177.4% in the second quarter. Man Group plc now owns 2,392,915 shares of the company’s stock worth $57,239,000 after acquiring an additional 1,530,167 shares in the last quarter. Elemental Capital Partners LLC purchased a new position in Bloom Energy in the third quarter valued at about $101,720,000. Goldman Sachs Group Inc. lifted its stake in shares of Bloom Energy by 50.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,498,840 shares of the company’s stock worth $49,127,000 after purchasing an additional 836,810 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Bloom Energy during the second quarter worth about $18,808,000. Hedge funds and other institutional investors own 77.04% of the company’s stock.

Insider Activity at Bloom Energy

In related news, insider Maciej Kurzymski sold 3,264 shares of Bloom Energy stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $86.48, for a total value of $282,270.72. Following the completion of the transaction, the insider directly owned 90,005 shares in the company, valued at approximately $7,783,632.40. This trade represents a 3.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Aman Joshi sold 4,543 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $109.13, for a total value of $495,777.59. Following the completion of the sale, the insider directly owned 219,818 shares of the company’s stock, valued at approximately $23,988,738.34. This represents a 2.02% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 14,639 shares of company stock worth $1,496,660. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on BE. Roth Mkm increased their target price on Bloom Energy to $133.00 and gave the company a “neutral” rating in a research note on Tuesday, February 3rd. Morgan Stanley increased their price objective on shares of Bloom Energy to $184.00 and gave the company an “overweight” rating in a research report on Friday. Barclays initiated coverage on shares of Bloom Energy in a research note on Wednesday, January 28th. They set an “equal weight” rating and a $153.00 price objective on the stock. Bank of America upped their target price on shares of Bloom Energy from $26.00 to $39.00 and gave the company an “underperform” rating in a research note on Tuesday, November 25th. Finally, Evercore ISI set a $179.00 price target on shares of Bloom Energy and gave the stock an “outperform” rating in a research note on Friday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $128.29.

Bloom Energy Stock Up 8.4%

BE stock opened at $155.06 on Tuesday. The company has a current ratio of 4.40, a quick ratio of 2.88 and a debt-to-equity ratio of 1.98. The firm has a 50 day simple moving average of $119.60 and a 200-day simple moving average of $94.19. The company has a market capitalization of $36.67 billion, a P/E ratio of -408.05, a PEG ratio of 11.56 and a beta of 3.07. Bloom Energy Corporation has a twelve month low of $15.15 and a twelve month high of $176.49.

Bloom Energy (NYSE:BE) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.20. Bloom Energy had a negative net margin of 4.37% and a positive return on equity of 8.38%. The firm had revenue of $777.68 million for the quarter, compared to analysts’ expectations of $647.59 million. During the same period in the prior year, the company posted $0.43 earnings per share. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. Bloom Energy has set its FY 2026 guidance at 1.330-1.480 EPS. On average, equities research analysts predict that Bloom Energy Corporation will post -0.23 earnings per share for the current fiscal year.

Bloom Energy Profile

Bloom Energy is a clean energy technology company that designs, manufactures and deploys solid oxide fuel cell systems for on-site power generation. Its flagship product, the Bloom Energy Server, converts natural gas, biogas or hydrogen into electricity through an electrochemical reaction, offering customers a reliable, low-carbon alternative to grid power. The company also provides a suite of services that includes system installation, remote monitoring and preventative maintenance to ensure long-term performance and uptime.

Founded in 2001 by Dr.