Handelsbanken Fonder AB Buys 14,500 Shares of Plug Power Inc. (NASDAQ:PLUG)

Handelsbanken Fonder AB boosted its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,884,635 shares of the electronics maker’s stock after purchasing an additional 14,500 shares during the quarter. Handelsbanken Fonder AB owned about 0.48% of Plug Power worth $12,981,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Robeco Schweiz AG boosted its position in Plug Power by 3.9% during the third quarter. Robeco Schweiz AG now owns 6,201,500 shares of the electronics maker’s stock worth $47,131,000 after purchasing an additional 235,000 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Plug Power by 1.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,272,687 shares of the electronics maker’s stock valued at $24,872,000 after acquiring an additional 61,241 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Plug Power by 11.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,763,234 shares of the electronics maker’s stock valued at $12,435,000 after acquiring an additional 276,626 shares during the period. Schroder Investment Management Group boosted its position in shares of Plug Power by 9.3% in the third quarter. Schroder Investment Management Group now owns 2,720,386 shares of the electronics maker’s stock valued at $20,675,000 after acquiring an additional 230,426 shares during the period. Finally, UniSuper Management Pty Ltd boosted its position in shares of Plug Power by 78.5% in the third quarter. UniSuper Management Pty Ltd now owns 2,064,304 shares of the electronics maker’s stock valued at $15,689,000 after acquiring an additional 907,604 shares during the period. 43.48% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial boosted their target price on shares of Plug Power from $3.00 to $4.00 and gave the company a “hold” rating in a research report on Wednesday, February 28th. Canaccord Genuity Group reduced their target price on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, March 4th. Citigroup cut shares of Plug Power from a “neutral” rating to a “sell” rating and reduced their target price for the company from $3.25 to $2.00 in a research report on Friday, April 5th. Marathon Capitl reissued an “equal weight” rating on shares of Plug Power in a research report on Tuesday, March 26th. Finally, UBS Group cut shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 target price for the company. in a research report on Tuesday, February 6th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $6.05.

Plug Power Trading Up 4.0 %

Plug Power stock opened at $2.59 on Wednesday. The business has a 50 day moving average of $3.35 and a 200-day moving average of $4.21. Plug Power Inc. has a 1 year low of $2.26 and a 1 year high of $13.44. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.52). Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm had revenue of $222.20 million during the quarter, compared to analyst estimates of $234.21 million. During the same period in the prior year, the company earned ($0.38) EPS. The business’s quarterly revenue was up .7% compared to the same quarter last year. On average, analysts anticipate that Plug Power Inc. will post -0.94 earnings per share for the current fiscal 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.