K2 Principal Fund L.P. boosted its position in shares of Plug Power, Inc. (NASDAQ:PLUG – Free Report) by 200.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 450,000 shares of the electronics maker’s stock after acquiring an additional 300,000 shares during the quarter. K2 Principal Fund L.P.’s holdings in Plug Power were worth $886,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of PLUG. Vanguard Group Inc. grew its holdings in Plug Power by 18.2% during the fourth quarter. Vanguard Group Inc. now owns 129,599,295 shares of the electronics maker’s stock valued at $255,311,000 after purchasing an additional 19,967,339 shares during the period. Renaissance Technologies LLC bought a new stake in Plug Power during the fourth quarter valued at about $27,684,000. Two Sigma Investments LP grew its holdings in Plug Power by 292.1% during the third quarter. Two Sigma Investments LP now owns 10,830,893 shares of the electronics maker’s stock valued at $25,236,000 after purchasing an additional 8,068,713 shares during the period. State Street Corp grew its holdings in Plug Power by 29.9% during the fourth quarter. State Street Corp now owns 32,258,283 shares of the electronics maker’s stock valued at $63,549,000 after purchasing an additional 7,416,943 shares during the period. Finally, Electron Capital Partners LLC bought a new stake in Plug Power during the third quarter valued at about $10,663,000. Institutional investors own 43.48% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a report on Tuesday, April 21st. Wells Fargo & Company boosted their price target on Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. BTIG Research reissued a “neutral” rating on shares of Plug Power in a report on Tuesday, March 3rd. B. Riley Financial boosted their price target on Plug Power from $3.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Susquehanna boosted their price target on Plug Power from $2.75 to $3.75 and gave the company a “neutral” rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $3.42.
Plug Power Stock Performance
NASDAQ PLUG opened at $2.76 on Friday. The firm has a market cap of $3.85 billion, a price-to-earnings ratio of -2.09 and a beta of 2.12. The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $3.26 and a 200-day moving average price of $2.54. Plug Power, Inc. has a twelve month low of $1.03 and a twelve month high of $4.58.
Plug Power (NASDAQ:PLUG – Get Free Report) last released its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The firm had revenue of $163.51 million during the quarter, compared to analyst estimates of $139.87 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.The business’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.21) earnings per share. As a group, equities research analysts predict that Plug Power, Inc. will post -0.26 EPS for the current fiscal year.
Plug Power Profile
Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.
In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.
See Also
- Five stocks we like better than Plug Power
- Time to Sell? 3 Winners With Fading Technical Momentum
- Why These 2 Hotel Stocks Are Beating Travel Peers
- This Energy Stock Has Quietly Soared 130% in a Year
- 3 ‘Boring’ Dividend Stocks With Tasty Technical Setups
Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.
