39,263 Shares in Plug Power Inc. (NASDAQ:PLUG) Bought by Itau Unibanco Holding S.A.

Itau Unibanco Holding S.A. acquired a new stake in Plug Power Inc. (NASDAQ:PLUG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 39,263 shares of the electronics maker’s stock, valued at approximately $91,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLUG. Vanguard Group Inc. boosted its holdings in shares of Plug Power by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker’s stock valued at $189,153,000 after buying an additional 999,194 shares during the period. Pinnacle Associates Ltd. raised its position in shares of Plug Power by 41.4% during the 1st quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker’s stock worth $12,989,000 after purchasing an additional 1,105,813 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Plug Power by 37.0% in the 2nd quarter. Van ECK Associates Corp now owns 3,422,814 shares of the electronics maker’s stock worth $7,975,000 after purchasing an additional 923,579 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Plug Power by 3.1% during 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 during the period. Finally, Swedbank AB acquired a new position in Plug Power during the 1st quarter valued at approximately $10,687,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Performance

Shares of PLUG stock opened at $1.94 on Monday. The stock’s fifty day simple moving average is $2.18 and its 200-day simple moving average is $2.68. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of -0.81 and a beta of 1.79. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. Plug Power Inc. has a 1-year low of $1.60 and a 1-year high of $7.95.

Plug Power (NASDAQ:PLUG) last released its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The business had revenue of $143.40 million for the quarter, compared to analysts’ expectations of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The company’s revenue was down 44.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.35) EPS. On average, sell-side analysts predict that Plug Power Inc. will post -1.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PLUG shares. Piper Sandler cut their target price on Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Susquehanna reduced their price objective on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Wells Fargo & Company lowered their target price on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Truist Financial reduced their price target on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, Craig Hallum lowered their price objective on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $5.19.

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.