Swedbank AB Increases Stake in Plug Power, Inc. $PLUG

Swedbank AB boosted its stake in Plug Power, Inc. (NASDAQ:PLUG) by 16.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 274,066 shares of the electronics maker’s stock after purchasing an additional 38,833 shares during the period. Swedbank AB’s holdings in Plug Power were worth $370,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Retirement Planning Group LLC NY purchased a new position in Plug Power in the 4th quarter worth approximately $38,000. GTS Securities LLC increased its stake in shares of Plug Power by 150.0% during the fourth quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker’s stock valued at $40,000 after buying an additional 56,255 shares during the period. Miracle Mile Advisors LLC purchased a new position in shares of Plug Power during the first quarter valued at approximately $26,000. Raiffeisen Bank International AG purchased a new position in shares of Plug Power during the fourth quarter valued at approximately $46,000. Finally, Baader Bank Aktiengesellschaft purchased a new position in shares of Plug Power during the first quarter valued at approximately $28,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Trading Up 7.0%

Plug Power stock opened at $1.68 on Wednesday. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The business’s fifty day simple moving average is $1.60 and its two-hundred day simple moving average is $1.31. Plug Power, Inc. has a 12 month low of $0.69 and a 12 month high of $3.32. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -0.73 and a beta of 2.09.

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

Analyst Upgrades and Downgrades

PLUG has been the topic of several research analyst reports. Wells Fargo & Company boosted their target price on Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research note on Thursday, August 14th. Evercore ISI raised Plug Power to a “strong sell” rating in a research note on Tuesday, July 15th. Susquehanna boosted their target price on Plug Power from $1.00 to $1.80 and gave the company a “neutral” rating in a research note on Monday, July 21st. BMO Capital Markets reduced their target price on Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 12th. Finally, Jefferies Financial Group boosted their target price on Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and a consensus target price of $1.88.

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.