Oppenheimer & Co. Inc. Raises Holdings in Plug Power Inc. (NASDAQ:PLUG)

Oppenheimer & Co. Inc. raised its stake in Plug Power Inc. (NASDAQ:PLUGFree Report) by 12.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 70,585 shares of the electronics maker’s stock after acquiring an additional 7,943 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Plug Power were worth $536,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Robeco Schweiz AG raised its position in shares of Plug Power by 3.9% in the third quarter. Robeco Schweiz AG now owns 6,201,500 shares of the electronics maker’s stock worth $47,131,000 after acquiring an additional 235,000 shares during the period. Kestra Private Wealth Services LLC purchased a new position in Plug Power during the third quarter worth approximately $90,000. Hussman Strategic Advisors Inc. acquired a new stake in Plug Power in the third quarter valued at approximately $319,000. Qsemble Capital Management LP acquired a new stake in Plug Power in the third quarter valued at approximately $298,000. Finally, HC Advisors LLC raised its stake in shares of Plug Power by 1.3% during the 3rd quarter. HC Advisors LLC now owns 305,200 shares of the electronics maker’s stock worth $2,320,000 after buying an additional 4,000 shares during the period. Hedge funds and other institutional investors own 49.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PLUG. Redburn Atlantic began coverage on shares of Plug Power in a research report on Tuesday, February 6th. They set a “neutral” rating and a $4.50 price objective for the company. Morgan Stanley reiterated an “underweight” rating and issued a $3.00 price objective (down from $3.50) on shares of Plug Power in a report on Wednesday, December 6th. Craig Hallum reissued a “buy” rating and set a $11.00 target price on shares of Plug Power in a report on Friday, December 22nd. JPMorgan Chase & Co. lowered Plug Power from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $10.00 to $6.00 in a research note on Friday, November 10th. Finally, Truist Financial reduced their price objective on Plug Power from $6.00 to $3.00 and set a “hold” rating for the company in a research note on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $7.63.

Check Out Our Latest Stock Analysis on PLUG

Plug Power Stock Performance

NASDAQ PLUG opened at $4.33 on Friday. The stock has a fifty day simple moving average of $4.08 and a 200-day simple moving average of $6.23. The company has a current ratio of 2.41, a quick ratio of 1.31 and a debt-to-equity ratio of 0.15. The stock has a market cap of $2.62 billion, a PE ratio of -2.71 and a beta of 1.67. Plug Power Inc. has a twelve month low of $2.26 and a twelve month high of $16.80.

Plug Power (NASDAQ:PLUGGet Free Report) last announced its quarterly earnings results on Thursday, November 9th. The electronics maker reported ($0.47) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.15). Plug Power had a negative net margin of 106.74% and a negative return on equity of 24.18%. The company had revenue of $198.71 million for the quarter, compared to analyst estimates of $219.57 million. During the same quarter in the prior year, the business earned ($0.30) earnings per share. Plug Power’s revenue was up 5.4% on a year-over-year basis. Equities analysts anticipate that Plug Power Inc. will post -1.73 earnings per share for the current year.

Plug Power Profile

(Free Report)

Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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