Charles Schwab Investment Management Inc. Purchases 418,493 Shares of Plug Power, Inc. $PLUG

Charles Schwab Investment Management Inc. boosted its position in Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,972,199 shares of the electronics maker's stock after acquiring an additional 418,493 shares during the period. Charles Schwab Investment Management Inc. owned 0.68% of Plug Power worth $9,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLUG. 49 Wealth Management LLC grew its holdings in shares of Plug Power by 25.0% during the fourth quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker's stock worth $62,000 after buying an additional 5,834 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Plug Power by 13.0% in the 4th quarter. Guggenheim Capital LLC now owns 65,352 shares of the electronics maker's stock valued at $139,000 after acquiring an additional 7,539 shares in the last quarter. Itau Unibanco Holding S.A. boosted its position in Plug Power by 21.0% during the 4th quarter. Itau Unibanco Holding S.A. now owns 47,518 shares of the electronics maker's stock worth $101,000 after acquiring an additional 8,255 shares during the last quarter. Krane Funds Advisors LLC grew its stake in shares of Plug Power by 2.3% during the 1st quarter. Krane Funds Advisors LLC now owns 450,901 shares of the electronics maker's stock worth $609,000 after acquiring an additional 10,287 shares in the last quarter. Finally, Ground Swell Capital LLC bought a new position in shares of Plug Power during the 4th quarter worth approximately $27,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Price Performance

NASDAQ:PLUG opened at $1.67 on Tuesday. Plug Power, Inc. has a 12-month low of $0.69 and a 12-month high of $3.32. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of -0.72 and a beta of 2.35. The stock's 50 day moving average price is $1.51 and its two-hundred day moving average price is $1.32. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22.

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

Analyst Ratings Changes

A number of analysts have recently commented on PLUG shares. Susquehanna boosted their price objective on shares of Plug Power from $1.00 to $1.80 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Morgan Stanley cut their price target on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a research report on Monday, May 19th. Evercore ISI upgraded shares of Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th. Piper Sandler decreased their price objective on Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a report on Wednesday, May 14th. Finally, Jefferies Financial Group lifted their target price on Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a research report on Wednesday, July 23rd. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company's stock. According to MarketBeat, Plug Power has a consensus rating of "Reduce" and a consensus target price of $1.88.

Insider Buying and Selling

In related news, insider Paul B. Middleton acquired 650,000 shares of the firm's stock in a transaction on Monday, June 9th. The shares were purchased at an average cost of $1.03 per share, for a total transaction of $669,500.00. Following the completion of the acquisition, the insider directly owned 2,558,064 shares in the company, valued at approximately $2,634,805.92. This trade represents a 34.07% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.41% of the stock is currently owned by company insiders.

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.

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