Oregon Public Employees Retirement Fund decreased its stake in Plug Power Inc. (NASDAQ:PLUG – Get Rating) by 12.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 60,664 shares of the electronics maker’s stock after selling 8,500 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Plug Power were worth $1,736,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. acquired a new position in shares of Plug Power during the 4th quarter worth $25,000. Parkside Financial Bank & Trust increased its stake in shares of Plug Power by 929.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 968 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 874 shares during the last quarter. Tyler Stone Wealth Management acquired a new position in shares of Plug Power during the 4th quarter worth $28,000. Acima Private Wealth LLC acquired a new position in shares of Plug Power during the 4th quarter worth $28,000. Finally, Webster Bank N. A. increased its stake in shares of Plug Power by 62.4% during the 1st quarter. Webster Bank N. A. now owns 1,015 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 390 shares during the last quarter. Institutional investors own 52.07% of the company’s stock.
Several research analysts have recently commented on PLUG shares. Piper Sandler started coverage on shares of Plug Power in a research note on Wednesday, June 8th. They set a “hold” rating and a $18.00 price target on the stock. KeyCorp reiterated an “overweight” rating and issued a $30.00 target price on shares of Plug Power in a research note on Thursday, June 30th. Susquehanna lowered their target price on shares of Plug Power from $33.00 to $30.00 in a research note on Tuesday, May 10th. Citigroup lowered their target price on shares of Plug Power to $20.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Finally, Morgan Stanley lowered their target price on shares of Plug Power from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Plug Power presently has a consensus rating of “Moderate Buy” and an average price target of $33.81.
NASDAQ:PLUG opened at $19.77 on Friday. The company has a 50-day moving average of $17.23 and a 200-day moving average of $22.03. The company has a market capitalization of $11.43 billion, a price-to-earnings ratio of -20.38 and a beta of 1.74. Plug Power Inc. has a 52 week low of $12.70 and a 52 week high of $46.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 10.51 and a current ratio of 11.44.
Plug Power (NASDAQ:PLUG – Get Rating) last released its quarterly earnings data on Monday, May 9th. The electronics maker reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). The business had revenue of $140.80 million for the quarter, compared to the consensus estimate of $142.99 million. Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. Plug Power’s revenue was up 95.7% on a year-over-year basis. During the same period in the previous year, the business posted ($0.12) earnings per share. Sell-side analysts forecast that Plug Power Inc. will post -0.73 EPS for the current year.
Plug Power Profile (Get Rating)
Plug Power Inc provides hydrogen fuel cell turnkey solutions for the mobility, material handling, and stationary power markets in North America and internationally. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, and fuel cell/battery hybrid technologies, as well as related hydrogen and green hydrogen generation, storage, and dispensing infrastructure.
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