Rhumbline Advisers Has $1.52 Million Holdings in Plug Power, Inc. (NASDAQ:PLUG)

Rhumbline Advisers trimmed its holdings in Plug Power, Inc. (NASDAQ:PLUG) by 11.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,122,344 shares of the electronics maker’s stock after selling 149,332 shares during the period. Rhumbline Advisers owned about 0.12% of Plug Power worth $1,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. bought a new stake in Plug Power during the fourth quarter worth about $25,000. Jones Financial Companies Lllp grew its position in Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after buying an additional 6,074 shares in the last quarter. Callan Family Office LLC acquired a new stake in Plug Power during the fourth quarter worth approximately $27,000. Ground Swell Capital LLC bought a new stake in Plug Power during the fourth quarter worth $27,000. Finally, Savant Capital LLC bought a new stake in Plug Power during the fourth quarter worth $31,000. 43.48% of the stock is currently owned by institutional investors.

Plug Power Stock Performance

PLUG stock opened at $1.14 on Thursday. The stock has a 50-day moving average price of $0.93 and a 200-day moving average price of $1.61. Plug Power, Inc. has a 1-year low of $0.69 and a 1-year high of $3.34. The company has a current ratio of 1.95, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1.31 billion, a PE ratio of -0.46 and a beta of 2.17.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. The business had revenue of $133.67 million during the quarter, compared to the consensus estimate of $130.92 million. As a group, equities research analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PLUG. Wall Street Zen upgraded Plug Power to a “sell” rating in a research note on Tuesday, May 13th. Jefferies Financial Group dropped their price target on Plug Power from $1.70 to $0.90 and set a “hold” rating for the company in a research note on Tuesday, May 20th. Susquehanna dropped their price target on Plug Power from $1.80 to $1.25 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley lowered their target price on Plug Power from $1.25 to $0.50 and set an “underweight” rating for the company in a research report on Monday, May 19th. Finally, Truist Financial lowered their target price on Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $1.83.

Insider Activity

In other news, CFO Paul B. Middleton bought 350,000 shares of Plug Power stock in a transaction dated Friday, May 16th. The stock was bought at an average cost of $0.72 per share, for a total transaction of $252,000.00. Following the purchase, the chief financial officer now directly owns 1,908,064 shares in the company, valued at approximately $1,373,806.08. This represents a 22.46% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.41% of the stock is currently owned by company insiders.

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.