Plug Power Inc. (NASDAQ:PLUG) Stock Holdings Boosted by Swedbank AB

Swedbank AB increased its position in Plug Power Inc. (NASDAQ:PLUG) by 75.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 168,389 shares of the electronics maker’s stock after acquiring an additional 72,193 shares during the period. Swedbank AB’s holdings in Plug Power were worth $381,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Mosley Wealth Management bought a new stake in shares of Plug Power during the first quarter valued at approximately $35,000. J.W. Cole Advisors Inc. acquired a new position in Plug Power during the 1st quarter worth $36,000. HighPoint Advisor Group LLC bought a new position in shares of Plug Power in the fourth quarter worth $48,000. HBK Sorce Advisory LLC bought a new position in shares of Plug Power in the first quarter worth $37,000. Finally, Nations Financial Group Inc. IA ADV bought a new stake in shares of Plug Power during the second quarter valued at about $26,000. 43.48% of the stock is currently owned by institutional investors.

Plug Power Price Performance

NASDAQ PLUG opened at $2.24 on Friday. The company has a 50 day moving average price of $2.03 and a two-hundred day moving average price of $2.50. Plug Power Inc. has a 12-month low of $1.60 and a 12-month high of $7.11. The stock has a market capitalization of $1.97 billion, a PE ratio of -0.95 and a beta of 1.79. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PLUG. Piper Sandler decreased their target price on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Craig Hallum decreased their price objective on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating for the company in a report on Friday, August 9th. B. Riley raised Plug Power to a “strong-buy” rating in a report on Tuesday, June 25th. Royal Bank of Canada decreased their price target on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Finally, Jefferies Financial Group lowered their price target on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Four 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $5.01.

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.