Plug Power Inc. (NASDAQ:PLUG) Shares Acquired by Everett Harris & Co. CA

Everett Harris & Co. CA grew its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 50.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,469 shares of the electronics maker’s stock after purchasing an additional 8,840 shares during the quarter. Everett Harris & Co. CA’s holdings in Plug Power were worth $119,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors L.P. boosted its holdings in Plug Power by 0.9% in the 2nd quarter. Natixis Advisors L.P. now owns 79,424 shares of the electronics maker’s stock worth $1,316,000 after buying an additional 723 shares during the last quarter. US Bancorp DE grew its holdings in shares of Plug Power by 7.9% in the first quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock valued at $324,000 after purchasing an additional 833 shares during the period. Ethic Inc. increased its holdings in shares of Plug Power by 8.2% during the 1st quarter. Ethic Inc. now owns 12,098 shares of the electronics maker’s stock worth $346,000 after buying an additional 914 shares during the last quarter. Blair William & Co. IL raised its position in Plug Power by 12.6% in the first quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock valued at $238,000 after purchasing an additional 934 shares during the period. Finally, Neuberger Berman Group LLC lifted its position in Plug Power by 7.3% in the first quarter. Neuberger Berman Group LLC now owns 13,972 shares of the electronics maker’s stock valued at $400,000 after buying an additional 946 shares during the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Price Performance

Shares of NASDAQ PLUG traded up $0.01 during mid-day trading on Thursday, reaching $3.44. The company had a trading volume of 22,213,232 shares, compared to its average volume of 44,985,031. The company has a 50-day moving average price of $3.68 and a two-hundred day moving average price of $4.84. The stock has a market cap of $2.35 billion, a PE ratio of -1.50 and a beta of 1.56. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. Plug Power Inc. has a 1-year low of $2.26 and a 1-year high of $13.44.

Plug Power (NASDAQ:PLUG) last posted 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 return on equity of 38.09% and a negative net margin of 153.57%. The company had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. During the same quarter in the previous year, the firm posted ($0.38) EPS. Plug Power’s quarterly revenue was up .7% on a year-over-year basis. On average, equities analysts anticipate that Plug Power Inc. will post -0.97 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PLUG shares. Royal Bank of Canada reduced their price target on shares of Plug Power from $5.00 to $3.50 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. HSBC cut their price objective on Plug Power from $9.00 to $8.50 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Canaccord Genuity Group lowered their target price on Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a research note on Monday, March 4th. Susquehanna reduced their price target on Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Finally, Piper Sandler upped their target price on shares of Plug Power from $2.80 to $2.90 and gave the stock an “underweight” rating in a research note on Tuesday, March 5th. Three research 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. According to MarketBeat, Plug Power currently has a consensus rating of “Hold” and a consensus price target of $6.20.

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.