Penserra Capital Management LLC Has $2.05 Million Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Penserra Capital Management LLC boosted its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 27.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 906,515 shares of the electronics maker’s stock after purchasing an additional 196,722 shares during the quarter. Penserra Capital Management LLC’s holdings in Plug Power were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in PLUG. SteelPeak Wealth LLC bought a new stake in shares of Plug Power during the second quarter worth approximately $26,000. Nations Financial Group Inc. IA ADV acquired a new stake in Plug Power during the 2nd quarter worth $26,000. Aire Advisors LLC bought a new stake in shares of Plug Power during the 2nd quarter valued at $28,000. Madison Park Capital Advisors LLC acquired a new position in shares of Plug Power in the 2nd quarter valued at $29,000. Finally, Profund Advisors LLC bought a new position in shares of Plug Power in the 2nd quarter worth $29,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Performance

Shares of PLUG stock opened at $2.20 on Tuesday. Plug Power Inc. has a 12 month low of $1.60 and a 12 month high of $5.14. The company’s fifty day simple moving average is $2.08 and its 200-day simple moving average is $2.38. The firm has a market cap of $2.00 billion, a PE ratio of -1.03 and a beta of 1.81. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The business had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.47) earnings per share. Equities research analysts expect that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLUG has been the topic of several analyst reports. Jefferies Financial Group cut their target price on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. Susquehanna reduced their price objective on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada decreased their price objective on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a report on Monday, August 12th. Piper Sandler cut their target price on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Finally, Craig Hallum decreased their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.52.

Plug Power Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.