Plug Power, Inc. $PLUG Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. increased its holdings in shares of Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 4.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,368,845 shares of the electronics maker's stock after acquiring an additional 3,930,342 shares during the quarter. Vanguard Group Inc. owned approximately 8.93% of Plug Power worth $123,348,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Northern Trust Corp grew its position in Plug Power by 11.1% in 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Plug Power by 0.8% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,691,201 shares of the electronics maker's stock worth $12,266,000 after buying an additional 42,900 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Plug Power in the 4th quarter worth approximately $10,370,000. Vontobel Holding Ltd. increased its stake in shares of Plug Power by 23.0% during the 1st quarter. Vontobel Holding Ltd. now owns 3,465,804 shares of the electronics maker's stock worth $4,679,000 after purchasing an additional 648,058 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in shares of Plug Power by 0.8% during the 4th quarter. Nuveen Asset Management LLC now owns 2,771,821 shares of the electronics maker's stock worth $5,904,000 after purchasing an additional 23,194 shares during the last quarter. Institutional investors own 43.48% of the company's stock.

Plug Power Trading Down 1.3%

PLUG opened at $1.54 on Friday. The company's 50 day moving average is $1.50 and its 200-day moving average is $1.34. Plug Power, Inc. has a 1-year low of $0.69 and a 1-year high of $3.32. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.78 billion, a P/E ratio of -0.67 and a beta of 2.35.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share 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 during the quarter, compared to analyst estimates of $157.97 million. Equities research analysts predict that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Insider Transactions at Plug Power

In other news, insider Paul B. Middleton purchased 650,000 shares of the stock in a transaction on Monday, June 9th. The stock was purchased at an average price of $1.03 per share, for a total transaction of $669,500.00. Following the acquisition, the insider owned 2,558,064 shares in the company, valued at $2,634,805.92. This trade represents a 34.07% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PLUG shares. Canaccord Genuity Group lowered their target price on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a research note on Tuesday, May 13th. Piper Sandler lowered their price objective 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. Wall Street Zen upgraded shares of Plug Power to a "sell" rating in a research report on Tuesday, May 13th. Jefferies Financial Group boosted their price objective on shares of Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Finally, Susquehanna lifted their price target on shares of Plug Power from $1.00 to $1.80 and gave the company a "neutral" rating in a research note on Monday, July 21st. Four research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $1.88.

Plug Power 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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