Swiss National Bank Raises Position in Plug Power, Inc. $PLUG

Swiss National Bank boosted its stake in Plug Power, Inc. (NASDAQ:PLUG) by 2.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,500,488 shares of the electronics maker’s stock after buying an additional 29,900 shares during the quarter. Swiss National Bank owned approximately 0.15% of Plug Power worth $2,026,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mariner LLC lifted its stake in Plug Power by 29.7% in the 4th quarter. Mariner LLC now owns 177,839 shares of the electronics maker’s stock valued at $379,000 after buying an additional 40,710 shares in the last quarter. Two Sigma Investments LP lifted its stake in Plug Power by 387.7% in the 4th quarter. Two Sigma Investments LP now owns 969,327 shares of the electronics maker’s stock worth $2,065,000 after purchasing an additional 770,564 shares in the last quarter. Deutsche Bank AG lifted its stake in Plug Power by 88.3% in the 4th quarter. Deutsche Bank AG now owns 978,101 shares of the electronics maker’s stock worth $2,083,000 after purchasing an additional 458,706 shares in the last quarter. Northern Trust Corp lifted its stake in Plug Power by 11.1% in the 4th quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock worth $16,843,000 after purchasing an additional 790,650 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Plug Power in the 4th quarter worth approximately $344,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Paul B. Middleton bought 650,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was purchased at an average price of $1.03 per share, for a total transaction of $669,500.00. Following the acquisition, the insider owned 2,558,064 shares of the company’s stock, valued at approximately $2,634,805.92. This trade represents a 34.07% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.41% of the company’s stock.

Plug Power Stock Up 9.1%

Shares of NASDAQ PLUG opened at $1.68 on Friday. The company has a 50 day simple moving average of $1.50 and a 200-day simple moving average of $1.33. The company has a market capitalization of $1.94 billion, a P/E ratio of -0.73 and a beta of 2.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82. Plug Power, Inc. has a 1 year low of $0.69 and a 1 year high of $3.32.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $173.97 million for the quarter, compared to analyst estimates of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. On average, equities research analysts predict that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLUG has been the topic of a number of research reports. BMO Capital Markets decreased their target price on shares of Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 12th. Wells Fargo & Company raised their target price on shares of Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Wall Street Zen raised shares of Plug Power to a “sell” rating in a research note on Tuesday, May 13th. Susquehanna raised their target price on shares of Plug Power from $1.00 to $1.80 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Finally, Piper Sandler decreased their target price 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. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat, Plug Power currently has an average rating of “Reduce” and a consensus target price of $1.88.

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.