UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $4.92 Million Stock Position in Plug Power Inc. (NASDAQ:PLUG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,309,399 shares of the electronics maker's stock after acquiring an additional 379,723 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.25% of Plug Power worth $4,919,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PLUG. Empowered Funds LLC acquired a new stake in Plug Power in the fourth quarter worth $214,000. Savant Capital LLC acquired a new stake in Plug Power in the fourth quarter worth $31,000. Sovran Advisors LLC acquired a new stake in Plug Power in the fourth quarter worth $127,000. Avidian Wealth Enterprises LLC acquired a new stake in Plug Power in the fourth quarter worth $35,000. Finally, Compagnie Lombard Odier SCmA raised its holdings in Plug Power by 12.8% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker's stock worth $104,000 after purchasing an additional 5,550 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Plug Power

In related news, CFO Paul B. Middleton bought 350,000 shares of the business'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 directly owns 1,908,064 shares of the company's stock, valued at approximately $1,373,806.08. This represents a 22.46% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 1.70% of the stock is currently owned by insiders.

Plug Power Stock Performance

Shares of PLUG stock traded down $0.06 during midday trading on Thursday, hitting $0.87. 78,396,486 shares of the company were exchanged, compared to its average volume of 64,645,341. The firm's 50 day moving average price is $0.94 and its two-hundred day moving average price is $1.66. The firm has a market capitalization of $939.78 million, a P/E ratio of -0.41 and a beta of 2.19. 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 Inc. has a 52 week low of $0.69 and a 52 week high of $3.34.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). The firm had revenue of $133.67 million during the quarter, compared to the consensus estimate of $130.92 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. As a group, equities research analysts anticipate that Plug Power Inc. will post -1.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLUG has been the topic of several analyst reports. Susquehanna cut their target price on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a report on Monday, April 14th. Canaccord Genuity Group cut their target price on shares of Plug Power from $1.25 to $1.00 and set a "hold" rating on the stock in a report on Tuesday, May 13th. Roth Capital restated a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Truist Financial dropped their price objective on shares of Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a report on Wednesday, March 5th. Finally, Wall Street Zen upgraded shares of Plug Power to a "sell" rating in a research note on Tuesday, May 13th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus 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.