Banque Cantonale Vaudoise Buys 29,051 Shares of Plug Power Inc. (NASDAQ:PLUG)

Banque Cantonale Vaudoise increased its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 17.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,850 shares of the electronics maker’s stock after buying an additional 29,051 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Plug Power were worth $443,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

Several brokerages have commented on PLUG. Piper Sandler lowered their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company lowered their target price on 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. Royal Bank of Canada reduced their price target on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Finally, Evercore ISI lowered their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Four equities research 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. According to data from MarketBeat, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $4.52.

Plug Power Stock Performance

Shares of PLUG stock opened at $1.89 on Friday. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 52 week low of $1.60 and a 52 week high of $5.14. The firm has a 50 day moving average of $2.08 and a 200-day moving average of $2.39. The company has a market cap of $1.73 billion, a price-to-earnings ratio of -0.88 and a beta of 1.81.

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

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.