Charles Schwab Investment Management Inc. Increases Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Charles Schwab Investment Management Inc. lifted its stake in Plug Power Inc. (NASDAQ:PLUG) by 25.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,637,039 shares of the electronics maker’s stock after purchasing an additional 1,354,500 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.75% of Plug Power worth $15,000,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Nations Financial Group Inc. IA ADV purchased a new position in shares of Plug Power in the 2nd quarter worth about $26,000. SteelPeak Wealth LLC bought a new position in Plug Power during the 2nd quarter worth $26,000. Aire Advisors LLC bought a new stake in shares of Plug Power during the second quarter valued at approximately $28,000. Madison Park Capital Advisors LLC acquired a new position in Plug Power during the 2nd quarter worth $29,000. Finally, Profund Advisors LLC bought a new position in Plug Power in the 2nd quarter valued at about $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Down 2.9 %

PLUG stock opened at $2.38 on Friday. The company’s 50 day moving average is $2.11 and its 200 day moving average is $2.32. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of -1.11 and a beta of 1.76. Plug Power Inc. has a 1-year low of $1.60 and a 1-year high of $5.14.

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

Wall Street Analyst Weigh In

PLUG has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Craig Hallum reduced their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Royal Bank of Canada lowered their price objective on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Finally, Canaccord Genuity Group cut their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently 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.