American Century Companies Inc. Increases Stake in Plug Power, Inc. $PLUG

American Century Companies Inc. grew its stake in Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 38.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,219,596 shares of the electronics maker's stock after buying an additional 340,223 shares during the period. American Century Companies Inc. owned approximately 0.12% of Plug Power worth $1,646,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Plug Power in the 4th quarter valued at $344,000. Dimensional Fund Advisors LP raised its holdings in shares of Plug Power by 3.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 985,216 shares of the electronics maker's stock valued at $2,101,000 after acquiring an additional 33,278 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Plug Power by 7.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 604,427 shares of the electronics maker's stock worth $1,288,000 after purchasing an additional 39,625 shares during the period. Northern Trust Corp grew its holdings in shares of Plug Power by 11.1% during the 4th quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker's stock worth $16,843,000 after acquiring an additional 790,650 shares during the period. Finally, Schonfeld Strategic Advisors LLC bought a new position in Plug Power in the fourth quarter worth $76,000. Institutional investors own 43.48% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PLUG. Wall Street Zen raised Plug Power to a "sell" rating in a research report on Tuesday, May 13th. Morgan Stanley lowered their price target on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. Piper Sandler reduced their target price on shares of Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a report on Wednesday, May 14th. Jefferies Financial Group increased their target price on shares of Plug Power from $0.90 to $1.60 and gave the stock a "hold" rating in a report on Wednesday, July 23rd. Finally, Wells Fargo & Company increased their target price on Plug Power from $1.00 to $1.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $1.88.

Plug Power Trading Down 3.4%

Shares of NASDAQ PLUG traded down $0.05 during mid-day trading on Thursday, reaching $1.44. The company had a trading volume of 33,807,748 shares, compared to its average volume of 42,244,604. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -0.62 and a beta of 2.09. The business's 50-day moving average is $1.58 and its 200-day moving average is $1.32. Plug Power, Inc. has a 52 week low of $0.69 and a 52 week high of $3.32.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The electronics maker reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The firm had revenue of $173.97 million for the quarter, compared to analysts' expectations of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. Equities analysts expect that Plug Power, Inc. will post -1.21 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Paul B. Middleton purchased 650,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was acquired at an average cost of $1.03 per share, with a total value of $669,500.00. Following the completion of the transaction, the insider owned 2,558,064 shares in the company, valued at $2,634,805.92. This represents a 34.07% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.41% of the company's stock.

Plug Power Profile

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.