Plug Power Inc. (NASDAQ:PLUG) Shares Purchased by Swedbank AB

Swedbank AB raised its stake in Plug Power Inc. (NASDAQ:PLUG) by 39.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 235,233 shares of the electronics maker’s stock after buying an additional 66,844 shares during the period. Swedbank AB’s holdings in Plug Power were worth $501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Nations Financial Group Inc. IA ADV increased its position in Plug Power by 42.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 4,700 shares during the last quarter. Arkadios Wealth Advisors raised its position in shares of Plug Power by 18.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after buying an additional 5,075 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock valued at $1,817,000 after acquiring an additional 5,485 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares during the period. Finally, Millburn Ridgefield Corp raised its position in Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the period. 43.48% of the stock is owned by institutional investors and hedge funds.

Plug Power Stock Down 3.1 %

Shares of Plug Power stock opened at $1.86 on Monday. Plug Power Inc. has a 52-week low of $1.60 and a 52-week high of $5.14. The company has a 50 day moving average of $2.36 and a 200 day moving average of $2.19. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $1.69 billion, a P/E ratio of -0.87 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last posted its 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 during the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period last year, the company earned ($0.47) EPS. As a group, research analysts forecast that Plug Power Inc. will post -1.21 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PLUG shares. Piper Sandler lowered their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Susquehanna lifted their price target on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research report on Thursday, January 16th. Canaccord Genuity Group reduced their price target on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Craig Hallum dropped their target price 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. Finally, Evercore ISI cut their target price on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.18.

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.