Plug Power Inc. (NASDAQ:PLUG) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in Plug Power Inc. (NASDAQ:PLUG) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,987,285 shares of the electronics maker’s stock after acquiring an additional 283,376 shares during the quarter. Vanguard Group Inc. owned 7.89% of Plug Power worth $242,943,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. FAS Wealth Partners Inc. purchased a new position in Plug Power in the 4th quarter worth about $45,000. Independent Advisor Alliance acquired a new stake in shares of Plug Power during the fourth quarter valued at approximately $45,000. First Affirmative Financial Network acquired a new stake in shares of Plug Power during the fourth quarter valued at approximately $50,000. Griffin Asset Management Inc. acquired a new position in Plug Power in the 4th quarter worth approximately $54,000. Finally, Waldron Private Wealth LLC acquired a new stake in Plug Power during the 4th quarter valued at $60,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Down 2.1 %

PLUG stock opened at $2.28 on Tuesday. Plug Power Inc. has a twelve month low of $2.25 and a twelve month high of $13.44. 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 company has a market cap of $1.69 billion, a PE ratio of -0.95 and a beta of 1.81. The business’s 50-day simple moving average is $2.82 and its 200 day simple moving average is $3.38.

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

Wall Street Analyst Weigh In

PLUG has been the topic of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $18.00 price objective on shares of Plug Power in a research report on Tuesday, May 14th. Susquehanna reduced their price target on Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a report on Friday, May 10th. Craig Hallum dropped their price objective on Plug Power from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, March 4th. Evercore ISI reduced their target price on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Finally, Citigroup lowered shares of Plug Power from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $3.25 to $2.00 in a research note on Friday, April 5th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.49.

Insiders Place Their Bets

In other news, Director George C. Mcnamee sold 10,000 shares of the stock in a transaction that occurred 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 directly owns 639,572 shares of the company’s stock, valued at $1,637,304.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.70% of the company’s stock.

About Plug Power

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.