Charles Schwab Investment Management Inc. Decreases Stake in Plug Power Inc. (NASDAQ:PLUG)

Charles Schwab Investment Management Inc. lowered its position in Plug Power Inc. (NASDAQ:PLUG) by 1.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,553,706 shares of the electronics maker’s stock after selling 83,333 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.72% of Plug Power worth $13,959,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. XTX Topco Ltd purchased a new stake in Plug Power in the 3rd quarter worth about $2,174,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Plug Power by 24.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after acquiring an additional 476,060 shares during the last quarter. Stifel Financial Corp grew its holdings in Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock valued at $3,160,000 after buying an additional 265,514 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Plug Power by 166.4% during the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock valued at $959,000 after buying an additional 265,042 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Plug Power by 8.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,452,369 shares of the electronics maker’s stock valued at $5,224,000 after buying an additional 183,438 shares in the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

NASDAQ:PLUG opened at $1.53 on Friday. The business has a 50 day moving average of $1.86 and a 200 day moving average of $2.07. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -0.71 and a beta of 1.98. Plug Power Inc. has a 1-year low of $1.37 and a 1-year high of $4.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PLUG. Morgan Stanley reduced their target price on Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a report on Thursday, March 6th. Canaccord Genuity Group reduced their target price on Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a report on Wednesday, March 5th. Truist Financial reduced their target price on Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a report on Wednesday, March 5th. B. Riley reduced their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Finally, StockNews.com upgraded Plug Power to a “sell” rating in a research report on Tuesday, March 4th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $2.31.

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.