US Bancorp DE Has $73,000 Stock Position in Plug Power Inc. (NASDAQ:PLUG)

US Bancorp DE cut its holdings in Plug Power Inc. (NASDAQ:PLUG) by 56.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,485 shares of the electronics maker’s stock after selling 41,988 shares during the quarter. US Bancorp DE’s holdings in Plug Power were worth $73,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PFG Investments LLC grew its holdings in shares of Plug Power by 14.0% during the 3rd quarter. PFG Investments LLC now owns 400,585 shares of the electronics maker’s stock valued at $905,000 after purchasing an additional 49,059 shares during the last quarter. Arkadios Wealth Advisors boosted its position in Plug Power by 18.2% in the third 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 in the last quarter. Ballentine Partners LLC acquired a new position in shares of Plug Power during the third quarter worth $54,000. International Assets Investment Management LLC lifted its stake in shares of Plug Power by 135.7% in the 3rd quarter. International Assets Investment Management LLC now owns 23,201 shares of the electronics maker’s stock valued at $52,000 after acquiring an additional 13,357 shares during the last quarter. Finally, Private Advisor Group LLC boosted its holdings in shares of Plug Power by 53.2% during the 3rd quarter. Private Advisor Group LLC now owns 65,594 shares of the electronics maker’s stock valued at $148,000 after acquiring an additional 22,770 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Plug Power Trading Down 5.1 %

PLUG stock opened at $1.87 on Friday. The firm’s fifty day simple moving average is $2.08 and its two-hundred day simple moving average is $2.40. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -0.87 and a beta of 1.81. The company has a quick ratio of 0.91, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a twelve month low of $1.60 and a twelve month high of $5.14.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter in the previous year, the firm earned ($0.47) EPS. Plug Power’s revenue was down 12.6% compared to the same quarter last year. As a group, analysts anticipate that Plug Power Inc. will post -1.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on PLUG shares. Evercore ISI reduced their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday. Royal Bank of Canada dropped their price target on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Canaccord Genuity Group cut their price target on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a report on Wednesday. Truist Financial decreased their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a report on Monday, August 12th. Finally, Piper Sandler cut their target price on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Plug Power has a consensus rating of “Hold” and an average target price of $4.52.

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.