Janus Henderson Group PLC Buys 68,968 Shares of Plug Power Inc. (NASDAQ:PLUG)

Janus Henderson Group PLC boosted its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 27.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 318,268 shares of the electronics maker’s stock after purchasing an additional 68,968 shares during the quarter. Janus Henderson Group PLC’s holdings in Plug Power were worth $718,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Nations Financial Group Inc. IA ADV bought a new stake in Plug Power during the second quarter valued at about $26,000. Aire Advisors LLC acquired a new stake in Plug Power in the 2nd quarter valued at approximately $28,000. Madison Park Capital Advisors LLC bought a new position in Plug Power in the 2nd quarter worth approximately $29,000. Profund Advisors LLC acquired a new position in shares of Plug Power during the second quarter worth approximately $29,000. Finally, Prio Wealth Limited Partnership bought a new stake in shares of Plug Power in the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on PLUG shares. Evercore ISI cut their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. 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 note on Thursday, October 3rd. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group lowered their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $4.52.

Plug Power Stock Up 1.3 %

NASDAQ PLUG opened at $2.43 on Friday. The stock’s 50 day simple moving average is $2.15 and its 200 day simple moving average is $2.30. Plug Power Inc. has a one year low of $1.60 and a one year high of $5.14. The firm has a market cap of $2.21 billion, a PE ratio of -1.14 and a beta of 1.76. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. During the same quarter in the previous year, the company posted ($0.47) EPS. Plug Power’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

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.