Deutsche Bank AG Grows Stock Holdings in Plug Power Inc. (NASDAQ:PLUG)

Deutsche Bank AG raised its position in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 88.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 978,101 shares of the electronics maker's stock after purchasing an additional 458,706 shares during the period. Deutsche Bank AG owned 0.11% of Plug Power worth $2,083,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PLUG. Arkadios Wealth Advisors boosted its holdings in Plug Power by 88.0% in the 4th quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker's stock valued at $132,000 after purchasing an additional 29,062 shares during the period. Sustainable Insight Capital Management LLC bought a new position in Plug Power in the 4th quarter valued at $79,000. PFG Investments LLC boosted its holdings in Plug Power by 16.8% in the 4th quarter. PFG Investments LLC now owns 467,836 shares of the electronics maker's stock valued at $996,000 after purchasing an additional 67,251 shares during the period. Swedbank AB boosted its holdings in Plug Power by 39.7% in the 4th quarter. Swedbank AB now owns 235,233 shares of the electronics maker's stock valued at $501,000 after purchasing an additional 66,844 shares during the period. Finally, Abel Hall LLC bought a new position in Plug Power in the 4th quarter valued at $31,000. 43.48% of the stock is owned by institutional investors.

Insider Buying and Selling at Plug Power

In other news, CFO Paul B. Middleton acquired 350,000 shares of the firm's stock in a transaction on Friday, May 16th. The shares were purchased at an average price of $0.72 per share, for a total transaction of $252,000.00. Following the completion of the transaction, the chief financial officer now owns 1,908,064 shares of the company's stock, valued at $1,373,806.08. The trade was a 22.46% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on PLUG shares. Piper Sandler cut their price target 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. Truist Financial lowered their price objective on shares of Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a research report on Wednesday, March 5th. Wells Fargo & Company lowered their price objective on shares of Plug Power from $2.00 to $1.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 14th. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a research report on Tuesday, May 13th. Finally, HC Wainwright restated a "buy" rating and set a $3.00 price objective on shares of Plug Power in a research report on Monday, March 24th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Plug Power currently has a consensus rating of "Hold" and an average price target of $1.83.

Plug Power Trading Down 2.5%

NASDAQ:PLUG traded down $0.02 during trading hours on Friday, reaching $0.78. The company's stock had a trading volume of 102,298,944 shares, compared to its average volume of 60,846,584. The firm has a market capitalization of $841.11 million, a price-to-earnings ratio of -0.36 and a beta of 2.19. The firm has a 50-day simple moving average of $1.06 and a 200-day simple moving average of $1.74. Plug Power Inc. has a 1 year low of $0.69 and a 1 year high of $3.55. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

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

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.