Rpo LLC Takes Position in Plug Power Inc. (NASDAQ:PLUG)

Rpo LLC bought a new position in shares of Plug Power Inc. (NASDAQ:PLUGFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 18,347 shares of the electronics maker’s stock, valued at approximately $83,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Plug Power in the 4th quarter valued at $97,800,000. State of New Jersey Common Pension Fund D increased its holdings in Plug Power by 104.9% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 651,695 shares of the electronics maker’s stock valued at $2,933,000 after buying an additional 333,708 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Plug Power by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker’s stock valued at $15,187,000 after buying an additional 102,095 shares during the period. SG Americas Securities LLC boosted its stake in shares of Plug Power by 183.6% in the 4th quarter. SG Americas Securities LLC now owns 1,656,282 shares of the electronics maker’s stock valued at $7,453,000 after purchasing an additional 1,072,344 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of Plug Power by 78.5% in the 3rd quarter. UniSuper Management Pty Ltd now owns 2,064,304 shares of the electronics maker’s stock valued at $15,689,000 after purchasing an additional 907,604 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on PLUG shares. Canaccord Genuity Group reduced their target price on shares of Plug Power from $4.00 to $3.00 and set a “hold” rating on the stock in a research note on Monday, May 13th. Susquehanna reduced their price target on shares of Plug Power from $3.50 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, May 10th. Seaport Res Ptn cut Plug Power from a “buy” rating to a “neutral” rating in a report on Tuesday, February 6th. TD Cowen lowered their price target on Plug Power from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Piper Sandler lowered their target price on Plug Power from $2.90 to $2.50 and set an “underweight” rating for the company in a research note on Friday, May 10th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Plug Power currently has a consensus rating of “Hold” and a consensus target price of $5.49.

Get Our Latest Research Report on Plug Power

Plug Power Price Performance

PLUG stock traded down $0.07 during midday trading on Wednesday, reaching $3.18. The company had a trading volume of 7,242,101 shares, compared to its average volume of 40,927,902. The company has a market capitalization of $2.36 billion, a price-to-earnings ratio of -1.30 and a beta of 1.64. The stock has a 50 day moving average price of $2.98 and a 200-day moving average price of $3.59. Plug Power Inc. has a 1-year low of $2.25 and a 1-year high of $13.44. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.94 and a quick ratio of 0.87.

Plug Power (NASDAQ:PLUGGet Free Report) last posted its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The company had revenue of $222.20 million during the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period last year, the firm earned ($0.38) EPS. Equities research analysts expect that Plug Power Inc. will post -1.12 earnings per share for the current year.

Insider Activity at Plug Power

In related news, Director George C. Mcnamee sold 10,000 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $2.56, for a total value of $25,600.00. Following the completion of the transaction, the director now owns 639,572 shares of the company’s stock, valued at $1,637,304.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.70% of the stock is owned by insiders.

Plug Power Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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