KBC Group NV Has $188,000 Stake in Plug Power, Inc. (NASDAQ:PLUG)

KBC Group NV reduced its stake in shares of Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 60.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 139,575 shares of the electronics maker's stock after selling 213,813 shares during the quarter. KBC Group NV's holdings in Plug Power were worth $188,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PLUG. Jones Financial Companies Lllp lifted its stake in shares of Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after acquiring an additional 6,074 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of Plug Power in the 4th quarter worth approximately $25,000. Miracle Mile Advisors LLC bought a new stake in shares of Plug Power in the 1st quarter worth approximately $26,000. Callan Family Office LLC acquired a new stake in shares of Plug Power during the fourth quarter valued at approximately $27,000. Finally, Ground Swell Capital LLC acquired a new position in Plug Power in the 4th quarter valued at approximately $27,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Price Performance

Shares of Plug Power stock traded down $0.10 during mid-day trading on Thursday, reaching $1.68. 87,551,359 shares of the stock were exchanged, compared to its average volume of 71,192,710. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -0.68 and a beta of 2.29. The company has a current ratio of 1.95, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. The firm has a 50-day simple moving average of $1.05 and a 200 day simple moving average of $1.50. Plug Power, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $3.34.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. The company had revenue of $133.67 million during the quarter, compared to the consensus estimate of $130.92 million. On average, sell-side analysts predict that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Insider Buying and Selling at Plug Power

In other Plug Power news, insider Paul B. Middleton purchased 650,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were acquired 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 owned 2,558,064 shares in the company, valued at $2,634,805.92. The trade was a 34.07% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PLUG has been the subject of several recent research reports. HC Wainwright reissued a "buy" rating and issued a $3.00 target price on shares of Plug Power in a research report on Monday, March 24th. Susquehanna decreased their target price on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating for the company in a research report on Monday, April 14th. Morgan Stanley decreased their target price on shares of Plug Power from $1.25 to $0.50 and set an "underweight" rating for the company in a research report on Monday, May 19th. Canaccord Genuity Group decreased their target price on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a research report on Tuesday, May 13th. Finally, Piper Sandler decreased their target price on shares of Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $1.83.

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.