Amundi Acquires 55,144 Shares of Plug Power, Inc. $PLUG

Amundi grew its position in Plug Power, Inc. (NASDAQ:PLUG) by 1.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,378,109 shares of the electronics maker’s stock after buying an additional 55,144 shares during the period. Amundi owned 0.33% of Plug Power worth $4,560,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. 49 Wealth Management LLC increased its stake in shares of Plug Power by 25.0% in the 4th quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker’s stock valued at $62,000 after buying an additional 5,834 shares during the period. Krane Funds Advisors LLC grew its stake in shares of Plug Power by 2.3% during the first quarter. Krane Funds Advisors LLC now owns 450,901 shares of the electronics maker’s stock worth $609,000 after purchasing an additional 10,287 shares during the period. ACT Wealth Management LLC grew its stake in shares of Plug Power by 58.3% during the first quarter. ACT Wealth Management LLC now owns 38,000 shares of the electronics maker’s stock worth $51,000 after purchasing an additional 14,000 shares during the period. SBI Securities Co. Ltd. grew its stake in shares of Plug Power by 10.1% during the first quarter. SBI Securities Co. Ltd. now owns 183,190 shares of the electronics maker’s stock worth $247,000 after purchasing an additional 16,811 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Plug Power by 35.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 64,440 shares of the electronics maker’s stock worth $137,000 after purchasing an additional 16,878 shares during the period. 43.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PLUG has been the subject of a number of analyst reports. Evercore ISI raised Plug Power to a “strong sell” rating in a research note on Tuesday, July 15th. BMO Capital Markets decreased their price objective on Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a research note on Tuesday, August 12th. Piper Sandler decreased their price objective on Plug Power from $1.10 to $0.80 and set an “underweight” rating for the company in a research note on Wednesday, May 14th. Jefferies Financial Group lifted their target price on Plug Power from $0.90 to $1.60 and gave the stock a “hold” rating in a report on Wednesday, July 23rd. Finally, Susquehanna lifted their target price on Plug Power from $1.00 to $1.80 and gave the stock a “neutral” rating in a report on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $1.88.

Plug Power Stock Performance

PLUG opened at $1.44 on Thursday. Plug Power, Inc. has a 52-week low of $0.69 and a 52-week high of $3.32. The firm has a market capitalization of $1.66 billion, a PE ratio of -0.62 and a beta of 2.09. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. The business’s 50-day simple moving average is $1.58 and its 200 day simple moving average is $1.31.

Plug Power (NASDAQ:PLUG) last released its earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. As a group, sell-side analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

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.