Banco Bilbao Vizcaya Argentaria S.A. Reduces Stock Position in Plug Power, Inc. $PLUG

Banco Bilbao Vizcaya Argentaria S.A. lessened its stake in Plug Power, Inc. (NASDAQ:PLUG) by 45.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 706,485 shares of the electronics maker’s stock after selling 582,767 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A. owned about 0.06% of Plug Power worth $972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLUG. Police & Firemen s Retirement System of New Jersey grew its holdings in Plug Power by 14.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 206,541 shares of the electronics maker’s stock valued at $308,000 after buying an additional 26,488 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Plug Power by 14.9% during the 2nd quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock valued at $35,872,000 after acquiring an additional 3,125,542 shares during the last quarter. KBC Group NV grew its holdings in shares of Plug Power by 153.6% in the second quarter. KBC Group NV now owns 353,917 shares of the electronics maker’s stock valued at $527,000 after purchasing an additional 214,342 shares during the period. SBI Securities Co. Ltd. increased its position in Plug Power by 10.1% during the second quarter. SBI Securities Co. Ltd. now owns 201,754 shares of the electronics maker’s stock worth $301,000 after purchasing an additional 18,564 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC raised its stake in Plug Power by 106.7% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 52,851 shares of the electronics maker’s stock worth $79,000 after purchasing an additional 27,280 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on PLUG shares. Jefferies Financial Group increased their price target on shares of Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on shares of Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. Hsbc Global Res upgraded Plug Power to a “strong-buy” rating in a research report on Thursday, October 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. Finally, 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 report on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $2.42.

Plug Power Stock Performance

NASDAQ:PLUG opened at $2.09 on Tuesday. 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 stock has a market capitalization of $2.41 billion, a P/E ratio of -0.90 and a beta of 2.28. The company has a 50 day moving average price of $2.73 and a 200 day moving average price of $1.81. Plug Power, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $4.58.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Monday, November 10th. The electronics maker reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) 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 $177.06 million for the quarter, compared to analyst estimates of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. Equities research analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current year.

Insider Activity

In related news, EVP Benjamin Haycraft sold 10,000 shares of the stock in a transaction dated Monday, November 10th. The stock was sold at an average price of $2.92, for a total transaction of $29,200.00. Following the transaction, the executive vice president owned 467,583 shares of the company’s stock, valued at approximately $1,365,342.36. This represents a 2.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.