Plug Power Inc. (NASDAQ:PLUG) Shares Bought by Northern Trust Corp

Northern Trust Corp lifted its position in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 11.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,907,687 shares of the electronics maker's stock after purchasing an additional 790,650 shares during the period. Northern Trust Corp owned 0.87% of Plug Power worth $16,843,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of PLUG. Vanguard Group Inc. lifted its holdings in Plug Power by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock worth $186,244,000 after buying an additional 4,491,114 shares during the period. Norges Bank purchased a new stake in Plug Power during the fourth quarter worth $146,465,000. Geode Capital Management LLC lifted its holdings in Plug Power by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker's stock worth $42,434,000 after buying an additional 722,639 shares during the period. Legal & General Group Plc lifted its holdings in Plug Power by 8.5% during the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker's stock worth $21,602,000 after buying an additional 796,774 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Plug Power during the 4th quarter valued at $6,235,000. Hedge funds and other institutional investors own 43.48% of the company's stock.

Plug Power Stock Performance

PLUG traded up $0.07 during midday trading on Friday, hitting $0.77. 271,469,495 shares of the company were exchanged, compared to its average volume of 58,573,797. The company's 50 day simple moving average is $1.13 and its 200 day simple moving average is $1.77. The firm has a market capitalization of $832.91 million, a price-to-earnings ratio of -0.36 and a beta of 2.19. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 1-year low of $0.69 and a 1-year high of $3.55.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PLUG. Seaport Res Ptn lowered Plug Power from a "hold" rating to a "strong sell" rating in a report on Monday, January 27th. Canaccord Genuity Group decreased their price objective on Plug Power from $1.25 to $1.00 and set a "hold" rating for the company in a report on Tuesday, May 13th. UBS Group decreased their price objective on Plug Power from $2.50 to $1.75 and set a "neutral" rating for the company in a report on Friday, March 21st. Roth Capital reiterated a "buy" rating on shares of Plug Power in a report on Tuesday, May 13th. Finally, Piper Sandler decreased their price objective on Plug Power from $1.10 to $0.80 and set an "underweight" rating for the company in a report on Wednesday. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $1.99.

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.