Plug Power Inc. (NASDAQ:PLUG) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 1.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,703,909 shares of the electronics maker's stock after selling 658,776 shares during the quarter. Vanguard Group Inc. owned 8.87% of Plug Power worth $408,150,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Natixis Advisors L.P. boosted its stake in Plug Power by 0.9% during the 2nd quarter. Natixis Advisors L.P. now owns 79,424 shares of the electronics maker's stock valued at $1,316,000 after purchasing an additional 723 shares during the period. US Bancorp DE boosted its position in Plug Power by 7.9% in the 1st quarter. US Bancorp DE now owns 11,362 shares of the electronics maker's stock valued at $324,000 after buying an additional 833 shares during the last quarter. Ethic Inc. boosted its position in shares of Plug Power by 8.2% in the 1st quarter. Ethic Inc. now owns 12,098 shares of the electronics maker's stock worth $346,000 after purchasing an additional 914 shares during the last quarter. Blair William & Co. IL boosted its position in shares of Plug Power by 12.6% in the 1st quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker's stock worth $238,000 after purchasing an additional 934 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its position in shares of Plug Power by 7.3% in the 1st quarter. Neuberger Berman Group LLC now owns 13,972 shares of the electronics maker's stock worth $400,000 after purchasing an additional 946 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company's stock.

Plug Power Trading Down 3.3 %

Shares of Plug Power stock traded down $0.11 during midday trading on Tuesday, reaching $3.22. 22,364,727 shares of the company's stock traded hands, compared to its average volume of 45,515,215. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. The company has a market cap of $2.20 billion, a PE ratio of -1.45 and a beta of 1.56. The stock has a 50 day moving average of $3.66 and a 200-day moving average of $4.89. Plug Power Inc. has a 12 month low of $2.26 and a 12 month high of $13.44.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.52). Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm had revenue of $222.20 million during the quarter, compared to the consensus estimate of $234.21 million. During the same period in the prior year, the company posted ($0.38) EPS. The firm's revenue was up .7% compared to the same quarter last year. As a group, equities analysts expect that Plug Power Inc. will post -0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLUG has been the topic of several recent analyst reports. Morgan Stanley reiterated an "underweight" rating and set a $3.00 target price (down from $3.50) on shares of Plug Power in a report on Wednesday, December 6th. Craig Hallum cut their price objective on shares of Plug Power from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Monday, March 4th. Royal Bank of Canada cut their price objective on shares of Plug Power from $5.00 to $3.50 and set a "sector perform" rating on the stock in a research report on Wednesday, January 24th. Truist Financial upped their price target on shares of Plug Power from $3.00 to $4.00 and gave the stock a "hold" rating in a research report on Wednesday, February 28th. Finally, HSBC dropped their price target on shares of Plug Power from $9.00 to $8.50 and set a "buy" rating on the stock in a research report on Tuesday, March 5th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.20.

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.