Vanguard Personalized Indexing Management LLC Sells 7,790 Shares of Plug Power Inc. (NASDAQ:PLUG)

Vanguard Personalized Indexing Management LLC lessened its holdings in Plug Power Inc. (NASDAQ:PLUG) by 18.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 34,537 shares of the electronics maker’s stock after selling 7,790 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Plug Power were worth $80,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PLUG. Dimensional Fund Advisors LP lifted its position in shares of Plug Power by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker’s stock worth $2,588,000 after purchasing an additional 187,205 shares during the period. Meeder Advisory Services Inc. bought a new stake in shares of Plug Power in the 2nd quarter valued at about $34,000. American Century Companies Inc. grew its position in shares of Plug Power by 16.2% in the 2nd quarter. American Century Companies Inc. now owns 572,938 shares of the electronics maker’s stock worth $1,335,000 after buying an additional 79,802 shares during the last quarter. Choreo LLC bought a new position in shares of Plug Power during the 2nd quarter worth approximately $65,000. Finally, PFG Investments LLC lifted its position in Plug Power by 48.7% during the second quarter. PFG Investments LLC now owns 351,526 shares of the electronics maker’s stock valued at $819,000 after acquiring an additional 115,135 shares during the last quarter. 43.48% of the stock is owned by institutional investors.

Plug Power Stock Down 8.8 %

Plug Power stock opened at $2.06 on Wednesday. Plug Power Inc. has a 12 month low of $1.60 and a 12 month high of $7.90. The stock has a market capitalization of $1.53 billion, a PE ratio of -0.86 and a beta of 1.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The business has a 50 day simple moving average of $2.08 and a 200-day simple moving average of $2.61.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.06). Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The company had revenue of $143.40 million for the quarter, compared to analysts’ expectations of $184.54 million. During the same period in the previous year, the business earned ($0.35) earnings per share. The business’s revenue for the quarter was down 44.9% on a year-over-year basis. On average, analysts anticipate that Plug Power Inc. will post -1.15 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLUG has been the topic of several analyst reports. Craig Hallum cut their price target on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Royal Bank of Canada dropped their target price on 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. B. Riley upgraded Plug Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Truist Financial dropped their price target on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, Canaccord Genuity Group cut their price objective on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $5.19.

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.