Plug Power Inc. (NASDAQ:PLUG) Stock Position Increased by American Century Companies Inc.

American Century Companies Inc. boosted its position in Plug Power Inc. (NASDAQ:PLUG) by 16.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 572,938 shares of the electronics maker’s stock after purchasing an additional 79,802 shares during the quarter. American Century Companies Inc. owned about 0.08% of Plug Power worth $1,335,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PLUG. Treasurer of the State of North Carolina raised its position in shares of Plug Power by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 233,192 shares of the electronics maker’s stock worth $1,049,000 after buying an additional 2,280 shares in the last quarter. Rafferty Asset Management LLC raised its position in shares of Plug Power by 69.5% during the 4th quarter. Rafferty Asset Management LLC now owns 359,537 shares of the electronics maker’s stock worth $1,618,000 after buying an additional 147,435 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of Plug Power by 120.8% during the 4th quarter. 1832 Asset Management L.P. now owns 34,000 shares of the electronics maker’s stock worth $153,000 after buying an additional 18,600 shares in the last quarter. Gabelli Funds LLC raised its position in shares of Plug Power by 100.0% during the 4th quarter. Gabelli Funds LLC now owns 175,000 shares of the electronics maker’s stock worth $788,000 after buying an additional 87,500 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Plug Power during the 4th quarter worth about $5,133,000. 43.48% of the stock is currently owned by institutional investors.

Plug Power Stock Performance

PLUG stock opened at $2.28 on Monday. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of -0.95 and a beta of 1.79. Plug Power Inc. has a 12 month low of $1.60 and a 12 month high of $7.95. The firm has a 50 day moving average of $2.09 and a two-hundred day moving average of $2.62.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The business had revenue of $143.40 million during the quarter, compared to the consensus estimate of $184.54 million. Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The business’s revenue was down 44.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) earnings per share. As a group, equities analysts anticipate that Plug Power Inc. will post -1.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on PLUG shares. Canaccord Genuity Group dropped their target price on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating on the stock in a report on Monday, August 12th. Wells Fargo & Company dropped their target price on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Friday, August 9th. Susquehanna dropped their target price on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a report on Monday, August 12th. Royal Bank of Canada dropped their target price on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. Finally, Truist Financial dropped their target price on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Plug Power has a consensus rating of “Hold” and an average target price of $5.19.

About Plug Power

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.