Penserra Capital Management LLC Sells 818,573 Shares of Plug Power, Inc. $PLUG

Key Points

• Penserra Capital sold 818,573 shares of Plug Power in Q2, cutting its stake by 96% to 33,934 shares worth about $50,000 at the end of the period.
• Several institutions increased positions heavily—most notably Vanguard now owns 91.37 million shares (~$123.3M)—and overall institutional/hedge fund ownership stands at 43.48%.
• Plug Power shares trade around $2.49 with a $2.88B market cap; the company recently reported a slight EPS beat (‑$0.12 vs. ‑$0.13 est.) but missed revenue ($177.1M vs. $185.4M), and analysts' consensus rating is a Hold with an average price target of $2.50.

Penserra Capital Management LLC lessened its stake in shares of Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 96.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,934 shares of the electronics maker's stock after selling 818,573 shares during the quarter. Penserra Capital Management LLC's holdings in Plug Power were worth $50,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PLUG. Brave Asset Management Inc. raised its stake in Plug Power by 603.8% during the 2nd quarter. Brave Asset Management Inc. now owns 140,400 shares of the electronics maker's stock worth $209,000 after buying an additional 120,450 shares during the period. Baader Bank Aktiengesellschaft grew its stake in Plug Power by 3,034.2% in the second quarter. Baader Bank Aktiengesellschaft now owns 652,950 shares of the electronics maker's stock valued at $973,000 after acquiring an additional 632,117 shares during the period. Caitong International Asset Management Co. Ltd increased its holdings in shares of Plug Power by 365,934.4% during the second quarter. Caitong International Asset Management Co. Ltd now owns 3,795,777 shares of the electronics maker's stock valued at $5,656,000 after acquiring an additional 3,794,740 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Plug Power by 11.9% during the second quarter. Vontobel Holding Ltd. now owns 3,878,389 shares of the electronics maker's stock worth $5,779,000 after purchasing an additional 412,585 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of Plug Power by 4.5% in 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 in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $2.49 on Friday. Plug Power, Inc. has a twelve month low of $0.69 and a twelve month high of $4.58. The stock's 50 day moving average price is $2.70 and its 200-day moving average price is $1.78. The company has a market capitalization of $2.88 billion, a PE ratio of -1.08 and a beta of 2.28. 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 quarterly earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, beating analysts' consensus estimates of ($0.13) by $0.01. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%.The company had revenue of $177.06 million during the quarter, compared to the consensus estimate of $185.41 million. Plug Power has set its FY 2025 guidance at EPS. On average, equities analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current year.

Wall Street Analyst Weigh In

PLUG has been the subject of a number of recent research reports. BMO Capital Markets decreased their price target on shares of Plug Power from $1.10 to $1.00 and set an "underperform" rating for the company in a research note on Tuesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Plug Power in a research report on Wednesday, October 8th. Canaccord Genuity Group upped their target price on shares of Plug Power from $1.25 to $2.50 and gave the stock a "hold" rating in a report on Tuesday. Morgan Stanley reiterated an "underweight" rating and set a $1.50 price target on shares of Plug Power in a research note on Thursday, October 16th. Finally, Susquehanna increased their price objective on Plug Power from $1.80 to $3.50 and gave the stock a "neutral" rating in a research note on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $2.50.

Insider Buying and Selling at Plug Power

In related news, EVP Benjamin Haycraft sold 10,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $2.92, for a total transaction of $29,200.00. Following the completion of the transaction, the executive vice president owned 467,583 shares in the company, valued at approximately $1,365,342.36. This represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.41% of the company's stock.

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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