Swiss National Bank Increases Stock Holdings in Plug Power, Inc. $PLUG

Swiss National Bank increased its stake in shares of Plug Power, Inc. (NASDAQ:PLUG) by 18.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,616,688 shares of the electronics maker’s stock after buying an additional 400,300 shares during the quarter. Swiss National Bank’s holdings in Plug Power were worth $5,914,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Plug Power by 116.7% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after acquiring an additional 7,000 shares in the last quarter. Kestra Private Wealth Services LLC purchased a new position in Plug Power during the 3rd quarter worth $32,000. DUTCH ASSET Corp purchased a new position in Plug Power during the 4th quarter worth $29,000. Independent Advisor Alliance bought a new stake in shares of Plug Power in the 4th quarter worth $30,000. Finally, GAMMA Investing LLC grew its stake in shares of Plug Power by 174.2% in the 4th quarter. GAMMA Investing LLC now owns 15,527 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 9,865 shares in the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Trading Down 4.9%

Shares of Plug Power stock opened at $1.96 on Wednesday. Plug Power, Inc. has a 1 year low of $1.39 and a 1 year high of $4.58. The firm has a market cap of $2.73 billion, a PE ratio of -1.48 and a beta of 2.16. The stock has a fifty day moving average price of $2.84 and a 200-day moving average price of $2.61. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.40.

Plug Power (NASDAQ:PLUG) last released its earnings results on Monday, May 11th. The electronics maker reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $163.51 million for the quarter, compared to analysts’ expectations of $139.87 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.21) EPS. Equities research analysts anticipate that Plug Power, Inc. will post -0.25 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on PLUG shares. Wall Street Zen lowered shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. TD Cowen upped their price objective on shares of Plug Power from $2.00 to $3.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Weiss Ratings upgraded shares of Plug Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Susquehanna decreased their price objective on shares of Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a research note on Friday, July 10th. Finally, Morgan Stanley lifted their target price on shares of Plug Power from $1.50 to $1.65 and gave the stock an “underweight” rating in a research report on Thursday, July 9th. Two equities research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.30.

Plug Power Company Profile

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.