DekaBank Deutsche Girozentrale boosted its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 12.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 639,000 shares of the electronics maker’s stock after buying an additional 69,000 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Plug Power were worth $21,028,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PLUG. Norges Bank purchased a new position in Plug Power during the fourth quarter valued at $220,881,000. Alliancebernstein L.P. lifted its position in shares of Plug Power by 252.5% in the fourth quarter. Alliancebernstein L.P. now owns 8,398,495 shares of the electronics maker’s stock valued at $284,793,000 after acquiring an additional 6,015,971 shares in the last quarter. BlackRock Inc. lifted its position in shares of Plug Power by 14.6% in the fourth quarter. BlackRock Inc. now owns 47,161,335 shares of the electronics maker’s stock valued at $1,599,242,000 after acquiring an additional 6,007,080 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Plug Power by 63.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,339,280 shares of the electronics maker’s stock valued at $44,780,000 after acquiring an additional 1,295,565 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Plug Power by 79.9% in the fourth quarter. First Trust Advisors LP now owns 2,871,846 shares of the electronics maker’s stock valued at $97,384,000 after acquiring an additional 1,275,076 shares in the last quarter. Institutional investors own 50.89% of the company’s stock.
Shares of NASDAQ:PLUG opened at $31.96 on Thursday. Plug Power Inc. has a 1 year low of $3.66 and a 1 year high of $75.49. The business has a 50 day simple moving average of $42.35 and a two-hundred day simple moving average of $35.66. The firm has a market capitalization of $15.00 billion, a PE ratio of -96.85 and a beta of 1.81. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.95 and a quick ratio of 2.44.
Plug Power (NASDAQ:PLUG) last announced its earnings results on Thursday, February 25th. The electronics maker reported ($1.12) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($1.04). Plug Power had a negative net margin of 33.75% and a negative return on equity of 37.12%. The business had revenue of $139.66 million for the quarter, compared to analysts’ expectations of $84.93 million. Equities research analysts expect that Plug Power Inc. will post -0.34 EPS for the current fiscal year.
Several equities analysts have recently commented on the company. Roth Capital restated a “buy” rating and issued a $65.00 price objective on shares of Plug Power in a research report on Monday, March 8th. B. Riley boosted their price objective on Plug Power from $79.00 to $83.00 in a research report on Thursday, January 28th. Barclays reaffirmed an “underweight” rating and issued a $29.00 target price (up from $21.00) on shares of Plug Power in a report on Monday, March 8th. Truist cut Plug Power from a “buy” rating to a “hold” rating in a report on Wednesday, March 17th. Finally, Truist Financial cut Plug Power from a “buy” rating to a “hold” rating in a report on Wednesday, March 17th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $51.93.
In related news, CEO Andrew Marsh sold 573,268 shares of the business’s stock in a transaction that occurred on Tuesday, January 19th. The stock was sold at an average price of $65.82, for a total value of $37,732,499.76. Following the completion of the sale, the chief executive officer now owns 855,280 shares in the company, valued at $56,294,529.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jonathan M. Silver sold 1,780 shares of the business’s stock in a transaction that occurred on Monday, January 11th. The shares were sold at an average price of $48.92, for a total value of $87,077.60. Following the completion of the sale, the director now owns 42,888 shares of the company’s stock, valued at approximately $2,098,080.96. The disclosure for this sale can be found here. Insiders have sold 595,048 shares of company stock valued at $39,044,777 in the last 90 days. Company insiders own 4.50% of the company’s stock.
Plug Power Company Profile
Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.
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