1,139,451 Shares in Plug Power Inc. (NASDAQ:PLUG) Acquired by Quadrature Capital Ltd

Quadrature Capital Ltd purchased a new position in shares of Plug Power Inc. (NASDAQ:PLUG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,139,451 shares of the electronics maker’s stock, valued at approximately $5,133,000. Quadrature Capital Ltd owned approximately 0.17% of Plug Power at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Plug Power in the 4th quarter valued at $97,800,000. Rafferty Asset Management LLC boosted its holdings in shares of Plug Power by 69.5% in the 4th quarter. Rafferty Asset Management LLC now owns 359,537 shares of the electronics maker’s stock valued at $1,618,000 after purchasing an additional 147,435 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its holdings in shares of Plug Power by 104.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 651,695 shares of the electronics maker’s stock valued at $2,933,000 after purchasing an additional 333,708 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Plug Power by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker’s stock valued at $15,187,000 after purchasing an additional 102,095 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Plug Power by 183.6% in the 4th quarter. SG Americas Securities LLC now owns 1,656,282 shares of the electronics maker’s stock valued at $7,453,000 after purchasing an additional 1,072,344 shares in the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analysts Set New Price Targets

PLUG has been the subject of a number of research reports. Evercore ISI dropped their price target on Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Craig Hallum dropped their price target on Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Citigroup cut Plug Power from a “neutral” rating to a “sell” rating and dropped their price target for the company from $3.25 to $2.00 in a research note on Friday, April 5th. Marathon Capitl reiterated an “equal weight” rating on shares of Plug Power in a research note on Tuesday, March 26th. Finally, Morgan Stanley dropped their price target on Plug Power from $3.00 to $2.50 and set an “underweight” rating for the company in a research note on Friday, May 10th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.49.

Plug Power Trading Down 2.9 %

NASDAQ:PLUG opened at $2.64 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.94 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $2.90 and its 200 day moving average is $3.51. Plug Power Inc. has a 12 month low of $2.25 and a 12 month high of $13.44.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The business had revenue of $120.26 million for the quarter, compared to the consensus estimate of $162.92 million. Equities research analysts expect that Plug Power Inc. will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling at Plug Power

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $2.56, for a total transaction of $25,600.00. Following the sale, the director now owns 639,572 shares of the company’s stock, valued at approximately $1,637,304.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.70% of the company’s stock.

Plug Power Company 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.