Axa S.A. Sells 37,291 Shares of Plug Power Inc. (NASDAQ:PLUG)

Axa S.A. cut its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 63.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,888 shares of the electronics maker’s stock after selling 37,291 shares during the quarter. Axa S.A.’s holdings in Plug Power were worth $51,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PLUG. SteelPeak Wealth LLC bought a new stake in shares of Plug Power during the 2nd quarter worth $26,000. Nations Financial Group Inc. IA ADV purchased a new stake in Plug Power during the second quarter valued at about $26,000. Aire Advisors LLC purchased a new stake in Plug Power during the second quarter valued at about $28,000. Madison Park Capital Advisors LLC purchased a new position in shares of Plug Power in the 2nd quarter worth about $29,000. Finally, Profund Advisors LLC purchased a new position in shares of Plug Power in the 2nd quarter worth about $29,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

Shares of PLUG opened at $2.16 on Thursday. The company has a 50-day simple moving average of $2.07 and a two-hundred day simple moving average of $2.60. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The firm has a market capitalization of $1.90 billion, a PE ratio of -0.90 and a beta of 1.79. Plug Power Inc. has a one year low of $1.60 and a one year high of $7.90.

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

Wall Street Analysts Forecast Growth

PLUG has been the topic of a number of research reports. B. Riley upgraded Plug Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Wells Fargo & Company lowered their price objective on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Canaccord Genuity Group cut their price objective on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada decreased 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 cut their price target on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.19.

Plug Power 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.