Universal Beteiligungs und Servicegesellschaft mbH Buys New Stake in Plug Power, Inc. (NASDAQ:PLUG)

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Plug Power, Inc. (NASDAQ:PLUG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,000 shares of the electronics maker’s stock, valued at approximately $34,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PLUG. Point72 Asset Management L.P. purchased a new stake in Plug Power during the fourth quarter valued at approximately $10,370,000. Renaissance Technologies LLC purchased a new stake in Plug Power during the fourth quarter valued at approximately $6,235,000. SG Americas Securities LLC lifted its position in Plug Power by 110.6% during the first quarter. SG Americas Securities LLC now owns 2,615,819 shares of the electronics maker’s stock valued at $3,531,000 after acquiring an additional 1,373,486 shares during the last quarter. Caxton Associates LP purchased a new stake in Plug Power during the fourth quarter valued at approximately $1,752,000. Finally, Legal & General Group Plc lifted its position in Plug Power by 8.5% during the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock valued at $21,602,000 after acquiring an additional 796,774 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Stock Up 6.2%

PLUG stock opened at $1.54 on Wednesday. The firm has a market cap of $1.77 billion, a PE ratio of -0.62 and a beta of 2.35. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.07 and a current ratio of 1.95. The firm’s fifty day moving average is $1.36 and its 200 day moving average is $1.37. Plug Power, Inc. has a one year low of $0.69 and a one year high of $3.32.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $133.67 million for the quarter, compared to analyst estimates of $130.92 million. Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. On average, research analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Analyst Upgrades and Downgrades

PLUG has been the topic of a number of recent analyst reports. Canaccord Genuity Group cut their price target on shares of Plug Power from $1.25 to $1.00 and set a “hold” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company cut their price target on shares of Plug Power from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 14th. Piper Sandler cut their price target on shares of Plug Power from $1.10 to $0.80 and set an “underweight” rating on the stock in a research note on Wednesday, May 14th. Evercore ISI upgraded shares of Plug Power to a “strong sell” rating in a research note on Tuesday, July 15th. Finally, Morgan Stanley cut their price target on shares of Plug Power from $1.25 to $0.50 and set an “underweight” rating on the stock in a research note on Monday, May 19th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $1.92.

Insider Buying and Selling

In other news, insider Paul B. Middleton purchased 650,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The shares were bought at an average price of $1.03 per share, for a total transaction of $669,500.00. Following the completion of the transaction, the insider owned 2,558,064 shares in the company, valued at $2,634,805.92. This represents a 34.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.41% of the company’s stock.

About Plug Power

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.