Wells Fargo & Company MN cut its position in Plug Power, Inc. (NASDAQ:PLUG) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,779 shares of the electronics maker’s stock after selling 1,000 shares during the period. Wells Fargo & Company MN owned about 0.07% of Plug Power worth $174,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. Nationwide Fund Advisors increased its position in shares of Plug Power by 4.6% in the first quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock worth $162,000 after buying an additional 5,127 shares in the last quarter. IFC Holdings Incorporated FL increased its position in shares of Plug Power by 33.5% in the first quarter. IFC Holdings Incorporated FL now owns 135,500 shares of the electronics maker’s stock worth $189,000 after buying an additional 34,000 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Plug Power by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 385,028 shares of the electronics maker’s stock worth $462,000 after buying an additional 6,680 shares in the last quarter. State Street Corp increased its position in shares of Plug Power by 7.2% in the fourth quarter. State Street Corp now owns 2,984,022 shares of the electronics maker’s stock worth $3,578,000 after buying an additional 199,300 shares in the last quarter. Finally, Hudson Bay Capital Management LP purchased a new position in shares of Plug Power during the fourth quarter worth approximately $12,264,000. Institutional investors and hedge funds own 17.58% of the company’s stock.
Plug Power, Inc. (NASDAQ PLUG) opened at 2.44 on Monday. The firm’s market cap is $545.23 million. Plug Power, Inc. has a 12-month low of $0.83 and a 12-month high of $2.70. The stock’s 50 day moving average is $2.08 and its 200 day moving average is $1.67.
Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, May 9th. The electronics maker reported ($0.13) earnings per share for the quarter, missing the consensus estimate of ($0.07) by $0.06. Plug Power had a negative return on equity of 68.47% and a negative net margin of 81.41%. The business had revenue of $15.20 million for the quarter, compared to analyst estimates of $24.90 million. During the same period last year, the business posted ($0.05) EPS. Plug Power’s revenue was down .7% on a year-over-year basis. On average, equities research analysts expect that Plug Power, Inc. will post ($0.25) EPS for the current year.
A number of brokerages have commented on PLUG. Roth Capital set a $2.00 target price on shares of Plug Power and gave the stock a “hold” rating in a report on Saturday, April 8th. Zacks Investment Research downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Wednesday, July 12th. Cowen and Company set a $3.00 target price on shares of Plug Power and gave the stock a “buy” rating in a report on Monday, July 10th. ValuEngine upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Finally, FBR & Co boosted their target price on shares of Plug Power from $2.50 to $3.00 and gave the stock an “outperform” rating in a report on Thursday, April 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $2.80.
About Plug Power
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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