Voya Investment Management LLC Has $5.05 Million Position in Plug Power, Inc. $PLUG

Voya Investment Management LLC cut its position in Plug Power, Inc. (NASDAQ:PLUG) by 0.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,737,058 shares of the electronics maker’s stock after selling 18,377 shares during the quarter. Voya Investment Management LLC owned 0.33% of Plug Power worth $5,045,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Two Sigma Investments LP raised its position in shares of Plug Power by 387.7% in the 4th quarter. Two Sigma Investments LP now owns 969,327 shares of the electronics maker’s stock valued at $2,065,000 after buying an additional 770,564 shares in the last quarter. Deutsche Bank AG increased its position in Plug Power by 88.3% during 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. Vanguard Group Inc. increased its position in Plug Power by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker’s stock worth $123,348,000 after purchasing an additional 3,930,342 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Plug Power by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,972,199 shares of the electronics maker’s stock worth $9,412,000 after purchasing an additional 418,493 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in Plug Power by 110.6% during the 1st quarter. SG Americas Securities LLC now owns 2,615,819 shares of the electronics maker’s stock worth $3,531,000 after purchasing an additional 1,373,486 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Up 5.0%

Plug Power stock opened at $2.10 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. Plug Power, Inc. has a 12-month low of $0.69 and a 12-month high of $3.32. The firm’s fifty day moving average is $1.61 and its 200 day moving average is $1.32. The company has a market capitalization of $2.43 billion, a PE ratio of -0.91 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) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The company had revenue of $173.97 million for the quarter, compared to analyst estimates of $157.97 million. As a group, sell-side analysts predict that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

PLUG has been the subject of a number of research analyst reports. BMO Capital Markets lowered their price objective on shares of Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a research report on Tuesday, August 12th. Susquehanna upped their price objective on shares of Plug Power from $1.00 to $1.80 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Jefferies Financial Group upped their price objective on shares of Plug Power from $0.90 to $1.60 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on shares of Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Finally, Evercore ISI upgraded shares of Plug Power to a “strong sell” rating in a research report on Tuesday, July 15th. 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, Plug Power currently has an average rating of “Reduce” and an average 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.