Vanguard Group Inc. Raises Stock Holdings in Plug Power, Inc. $PLUG

Key Points

• Vanguard Group Inc. increased its stake in Plug Power by 18.2% in the fourth quarter, buying nearly 20 million additional shares and bringing its holding to about 9.31% of the company.
• Recent news around Plug Power has been more positive, including its first-ever positive gross profit and a major 275 MW electrolyzer contract in Canada that is supporting sentiment ahead of earnings.
• The stock remains volatile as investors wait for Q1 results, with analysts pointing to both growth potential and risks from rising costs and foreign-exchange pressure; Wall Street’s consensus rating is currently Hold.

Vanguard Group Inc. boosted its stake in Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 18.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 129,599,295 shares of the electronics maker's stock after buying an additional 19,967,339 shares during the period. Vanguard Group Inc. owned approximately 9.31% of Plug Power worth $255,311,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Calamos Wealth Management LLC increased its stake in Plug Power by 50.0% during the fourth quarter. Calamos Wealth Management LLC now owns 30,000 shares of the electronics maker's stock worth $59,000 after purchasing an additional 10,000 shares during the period. Arizona State Retirement System increased its stake in Plug Power by 2.6% during the fourth quarter. Arizona State Retirement System now owns 313,465 shares of the electronics maker's stock worth $618,000 after purchasing an additional 7,905 shares during the period. O ROURKE & COMPANY Inc increased its stake in Plug Power by 27.1% during the fourth quarter. O ROURKE & COMPANY Inc now owns 28,166 shares of the electronics maker's stock worth $55,000 after purchasing an additional 6,000 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in Plug Power by 46.0% during the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 82,041 shares of the electronics maker's stock worth $162,000 after purchasing an additional 25,865 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Plug Power during the fourth quarter worth about $120,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Key Plug Power News

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Investors are encouraged by signs of operational improvement, including Plug Power’s first-ever positive gross profit and stronger expectations for revenue growth heading into the May 11 earnings release. How Plug Power’s First Positive Margin and Electrolyzer Deal Could Impact Plug Power (PLUG) Investors
• Positive Sentiment: A major 275 MW electrolyzer contract in Canada is boosting sentiment by strengthening Plug Power’s hydrogen project pipeline and reinforcing demand expectations. Plug Power (PLUG) Valuation Check As First Gross Profit And Major Canada Contract Lift Expectations
• Neutral Sentiment: The market is focused on whether Q1 results will show continued growth in services and hydrogen revenues, with the report likely to drive the next big move in the shares. What to Note Ahead of Plug Power's Q1 Earnings Release?
• Neutral Sentiment: Recent trading has been highly volatile, with the stock pulling back after a strong April run, suggesting investors may be taking profits while waiting for clearer earnings confirmation. Plug Power (PLUG) Falls More Steeply Than Broader Market: What Investors Need to Know
• Negative Sentiment: Rising costs and foreign-exchange headwinds could pressure margins, which is a key risk for investors heading into earnings. What to Note Ahead of Plug Power's Q1 Earnings Release?

Plug Power Stock Down 0.3%

PLUG stock opened at $3.12 on Friday. The company's 50 day moving average price is $2.55 and its 200 day moving average price is $2.36. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.46 and a current ratio of 2.31. Plug Power, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $4.58. The firm has a market capitalization of $4.35 billion, a price-to-earnings ratio of -2.31 and a beta of 2.06.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Monday, March 2nd. The electronics maker reported ($0.06) earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.04. The firm had revenue of $225.22 million for the quarter, compared to analyst estimates of $217.38 million. Plug Power had a negative net margin of 229.83% and a negative return on equity of 45.97%. During the same period in the prior year, the firm earned ($1.48) earnings per share. On average, equities research analysts anticipate that Plug Power, Inc. will post -0.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Jefferies Financial Group cut their price target on shares of Plug Power from $2.00 to $1.80 and set a "hold" rating on the stock in a research note on Monday, March 9th. Susquehanna boosted their price target on shares of Plug Power from $2.50 to $2.75 and gave the stock a "neutral" rating in a research note on Thursday, April 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Plug Power in a research note on Tuesday, April 21st. HC Wainwright restated a "buy" rating and set a $7.00 target price on shares of Plug Power in a research note on Tuesday, March 3rd. Finally, Wells Fargo & Company upped their target price on shares of Plug Power from $1.50 to $2.00 and gave the stock an "equal weight" rating in a research note on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and five have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $3.03.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.

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