Victory Capital Management Inc. Purchases 15,280 Shares of Plug Power Inc. (NASDAQ:PLUG)

Victory Capital Management Inc. grew its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 17.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 103,382 shares of the electronics maker’s stock after purchasing an additional 15,280 shares during the quarter. Victory Capital Management Inc.’s holdings in Plug Power were worth $234,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of PLUG. Nations Financial Group Inc. IA ADV grew its position in Plug Power by 42.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after acquiring an additional 4,700 shares during the last quarter. Arkadios Wealth Advisors grew its position in Plug Power by 18.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock worth $75,000 after acquiring an additional 5,075 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in Plug Power by 79.9% during the 3rd 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 last quarter. Amalgamated Bank grew its position in Plug Power by 36.6% during the 3rd quarter. Amalgamated Bank now owns 25,444 shares of the electronics maker’s stock worth $58,000 after acquiring an additional 6,822 shares during the last quarter. Finally, Cetera Advisors LLC grew its position in Plug Power by 33.0% during the 1st quarter. Cetera Advisors LLC now owns 27,733 shares of the electronics maker’s stock worth $95,000 after acquiring an additional 6,885 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors.

Plug Power Stock Up 5.2 %

Shares of NASDAQ:PLUG opened at $2.24 on Friday. The stock has a fifty day simple moving average of $2.09 and a two-hundred day simple moving average of $2.36. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of -1.05 and a beta of 1.81. Plug Power Inc. has a 12-month low of $1.60 and a 12-month high of $5.14. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter in the prior year, the firm earned ($0.47) EPS. The firm’s revenue for the quarter was down 12.6% compared to the same quarter last year. On average, research analysts anticipate that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PLUG. Susquehanna cut their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Wells Fargo & Company cut their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. Truist Financial cut their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Craig Hallum cut their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Piper Sandler cut their price objective on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research report on Thursday, November 14th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.52.

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.