Commonwealth Equity Services LLC Boosts Stock Holdings in Plug Power Inc. (NASDAQ:PLUG)

Commonwealth Equity Services LLC boosted its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 23.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 314,949 shares of the electronics maker’s stock after purchasing an additional 59,224 shares during the period. Commonwealth Equity Services LLC owned approximately 0.05% of Plug Power worth $3,691,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Plug Power by 0.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,273,417 shares of the electronics maker’s stock worth $202,445,000 after purchasing an additional 59,614 shares during the period. Norges Bank acquired a new stake in shares of Plug Power in the fourth quarter worth $211,176,000. State Street Corp increased its position in shares of Plug Power by 6.3% in the third quarter. State Street Corp now owns 14,008,927 shares of the electronics maker’s stock worth $294,328,000 after acquiring an additional 826,142 shares in the last quarter. Morgan Stanley increased its position in shares of Plug Power by 3.1% in the fourth quarter. Morgan Stanley now owns 10,052,469 shares of the electronics maker’s stock worth $124,349,000 after acquiring an additional 303,185 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Plug Power by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 7,633,166 shares of the electronics maker’s stock worth $94,320,000 after acquiring an additional 439,463 shares in the last quarter. Hedge funds and other institutional investors own 49.99% of the company’s stock.

Plug Power Price Performance

Plug Power stock opened at $8.51 on Monday. The firm’s 50-day moving average is $10.43 and its 200-day moving average is $10.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 3.16. Plug Power Inc. has a 1 year low of $7.39 and a 1 year high of $30.43.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Wednesday, August 9th. The electronics maker reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.07). Plug Power had a negative return on equity of 20.27% and a negative net margin of 95.15%. The business had revenue of $260.18 million during the quarter, compared to the consensus estimate of $237.38 million. As a group, research analysts forecast that Plug Power Inc. will post -1.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PLUG shares. Northland Securities raised shares of Plug Power from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, July 14th. Truist Financial dropped their price objective on shares of Plug Power from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, August 11th. Susquehanna lowered their price target on shares of Plug Power from $15.00 to $14.00 and set a “positive” rating for the company in a report on Monday, August 14th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Plug Power in a report on Tuesday, June 6th. Finally, Royal Bank of Canada lowered their price target on shares of Plug Power from $17.00 to $12.00 in a report on Wednesday, May 10th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.40.

About Plug Power

Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.