MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Reduces Stock Holdings in Plug Power, Inc. $PLUG

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. reduced its stake in Plug Power, Inc. by 3.3%, selling 185,468 shares to hold approximately 5.5 million shares worth $7.43 million.
• Plug Power reported a loss of ($0.16) EPS, missing analyst estimates, but had revenue of $173.97 million, surpassing the projected $157.97 million.
• Analysts have mixed ratings for Plug Power, with a current average target price of $1.88 and a distribution of ratings including four Buy, seven Hold, and five Sell ratings.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. cut its holdings in shares of Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,505,733 shares of the electronics maker's stock after selling 185,468 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.54% of Plug Power worth $7,426,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Two Sigma Investments LP increased its holdings in Plug Power by 387.7% during the 4th quarter. Two Sigma Investments LP now owns 969,327 shares of the electronics maker's stock worth $2,065,000 after purchasing an additional 770,564 shares during the last quarter. Deutsche Bank AG increased its holdings in Plug Power by 88.3% during the 4th quarter. Deutsche Bank AG now owns 978,101 shares of the electronics maker's stock worth $2,083,000 after purchasing an additional 458,706 shares during the last quarter. Northern Trust Corp increased its holdings in 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 purchasing an additional 790,650 shares during the last quarter. Vanguard Group Inc. increased its holdings in Plug Power by 4.5% during the 1st quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker's stock worth $123,348,000 after purchasing an additional 3,930,342 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Plug Power by 6.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,972,199 shares of the electronics maker's stock worth $9,412,000 after purchasing an additional 418,493 shares during the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Trading Up 2.1%

NASDAQ:PLUG opened at $1.44 on Thursday. 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 $1.66 billion, a P/E ratio of -0.62 and a beta of 2.09. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82. The business has a 50 day simple moving average of $1.58 and a 200 day simple moving average of $1.31.

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

Wall Street Analysts Forecast Growth

PLUG has been the topic of several analyst reports. Wells Fargo & Company lifted their price objective on Plug Power from $1.00 to $1.50 and gave the stock an "equal weight" rating in a report on Thursday, August 14th. Morgan Stanley dropped their price objective on Plug Power from $1.25 to $0.50 and set an "underweight" rating on the stock in a report on Monday, May 19th. BMO Capital Markets lowered their price target on Plug Power from $1.10 to $1.00 and set an "underperform" rating for the company in a report on Tuesday, August 12th. Jefferies Financial Group boosted their price target on Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Finally, Piper Sandler lowered their price target on Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a report on Wednesday, May 14th. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average target price of $1.88.

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.

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