Raiffeisen Bank International AG Acquires Shares of 20,780 Plug Power Inc. (NASDAQ:PLUG)

Raiffeisen Bank International AG acquired a new stake in Plug Power Inc. (NASDAQ:PLUG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,780 shares of the electronics maker’s stock, valued at approximately $46,000.

Several other large investors also recently bought and sold shares of PLUG. Pacific Sage Partners LLC acquired a new position in Plug Power in the fourth quarter valued at $25,000. Oppenheimer & Co. Inc. acquired a new position in Plug Power in the fourth quarter valued at $25,000. Jones Financial Companies Lllp boosted its stake in Plug Power by 107.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 6,074 shares in the last quarter. Callan Family Office LLC acquired a new position in Plug Power in the fourth quarter valued at $27,000. Finally, Ground Swell Capital LLC purchased a new stake in shares of Plug Power in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on PLUG shares. Canaccord Genuity Group decreased their target price on shares of Plug Power from $1.25 to $1.00 and set a “hold” rating for the company in a research note on Tuesday, May 13th. Susquehanna decreased their target price on shares of Plug Power from $1.80 to $1.25 and set a “neutral” rating for the company in a research note on Monday, April 14th. Morgan Stanley decreased their target price on shares of Plug Power from $1.25 to $0.50 and set an “underweight” rating for the company in a research note on Monday. Piper Sandler decreased their target price on shares of Plug Power from $1.10 to $0.80 and set an “underweight” rating for the company in a research note on Wednesday, May 14th. Finally, Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $1.91.

Insider Buying and Selling at Plug Power

In related news, CFO Paul B. Middleton bought 350,000 shares of the company’s stock in a transaction on Friday, May 16th. The stock was bought at an average cost of $0.72 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief financial officer now owns 1,908,064 shares in the company, valued at approximately $1,373,806.08. This represents a 22.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is currently owned by corporate insiders.

Plug Power Trading Up 2.1%

NASDAQ PLUG opened at $0.79 on Tuesday. Plug Power Inc. has a 52-week low of $0.69 and a 52-week high of $3.55. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $850.60 million, a P/E ratio of -0.37 and a beta of 2.19. The firm has a 50-day moving average price of $1.11 and a 200 day moving average price of $1.76.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company had revenue of $133.67 million during the quarter, compared to analysts’ expectations of $130.92 million. Equities research analysts expect that Plug Power Inc. will post -1.21 EPS for the current year.

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.