Charles Schwab Investment Management Inc. Has $9.41 Million Position in Plug Power, Inc. $PLUG

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Plug Power, Inc. by 6.4%, owning approximately 6,972,199 shares worth about $9.4 million at the end of the last quarter.
• Plug Power's stock has a market capitalization of $1.91 billion and reported earnings of ($0.16) EPS for the last quarter, missing analyst expectations.
• Several analysts have revised their ratings on Plug Power, with Jefferies Financial Group raising its price target to $1.60, while others have issued ratings ranging from "hold" to "strong sell".

Charles Schwab Investment Management Inc. lifted its position in shares of Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 6.4% in the first 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 quarter. Charles Schwab Investment Management Inc. owned approximately 0.68% of Plug Power worth $9,412,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Citizens Financial Group Inc. RI bought a new stake in shares of Plug Power during the first quarter worth $38,000. Vanguard Group Inc. raised its position in shares of Plug Power by 4.5% during the first quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker's stock worth $123,348,000 after acquiring an additional 3,930,342 shares during the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Plug Power during the first quarter worth $28,000. XTX Topco Ltd raised its position in shares of Plug Power by 270.9% during the first quarter. XTX Topco Ltd now owns 356,260 shares of the electronics maker's stock worth $481,000 after acquiring an additional 260,216 shares during the last quarter. Finally, Banque Cantonale Vaudoise bought a new stake in shares of Plug Power during the first quarter worth $115,000. Institutional investors own 43.48% of the company's stock.

Plug Power Trading Down 3.7%

Shares of Plug Power stock traded down $0.06 during trading hours on Friday, hitting $1.57. The company's stock had a trading volume of 29,906,605 shares, compared to its average volume of 43,898,848. Plug Power, Inc. has a 12 month low of $0.69 and a 12 month high of $3.32. The stock has a 50 day moving average of $1.55 and a 200 day moving average of $1.33. The company has a market capitalization of $1.81 billion, a PE ratio of -0.68 and a beta of 2.35. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on PLUG shares. Wall Street Zen upgraded Plug Power to a "sell" rating in a report on Tuesday, May 13th. Canaccord Genuity Group dropped their price objective on Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a report on Tuesday, May 13th. Morgan Stanley dropped their price objective on Plug Power from $1.25 to $0.50 and set an "underweight" rating for the company in a report on Monday, May 19th. Wells Fargo & Company upped their price objective on Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a report on Thursday, August 14th. Finally, Jefferies Financial Group upped their price objective on Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Four research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, Plug Power presently has a consensus rating of "Reduce" and a consensus price target of $1.88.

Insider Buying and Selling at Plug Power

In other news, insider Paul B. Middleton acquired 650,000 shares of Plug Power stock in a transaction dated Monday, June 9th. The stock was bought 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 directly owned 2,558,064 shares of the company's stock, valued at approximately $2,634,805.92. This represents a 34.07% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.41% of the stock is owned by corporate insiders.

Plug Power Company 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.