Charles Schwab Investment Management Inc. Raises Stake in Plug Power Inc. (NASDAQ:PLUG)

Charles Schwab Investment Management Inc. grew its position in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 25.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,637,039 shares of the electronics maker's stock after acquiring an additional 1,354,500 shares during the period. Charles Schwab Investment Management Inc. owned about 0.75% of Plug Power worth $15,000,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV bought a new position in Plug Power during the 2nd quarter valued at approximately $26,000. SteelPeak Wealth LLC purchased a new position in shares of Plug Power during the second quarter valued at approximately $26,000. Aire Advisors LLC bought a new position in shares of Plug Power during the second quarter valued at approximately $28,000. Madison Park Capital Advisors LLC purchased a new stake in Plug Power in the second quarter worth $29,000. Finally, Profund Advisors LLC bought a new stake in Plug Power in the second quarter valued at $29,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. BTIG Research lowered shares of Plug Power from a "buy" rating to a "neutral" rating in a report on Thursday, November 14th. Craig Hallum reduced their target price on Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Thursday, November 14th. Susquehanna decreased their target price on Plug Power from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Canaccord Genuity Group dropped their price target on Plug Power from $2.50 to $2.25 and set a "hold" rating on the stock in a research report on Wednesday, November 13th. Finally, HC Wainwright reiterated a "buy" rating and issued a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $4.52.

Plug Power Stock Down 2.9 %

Shares of Plug Power stock traded down $0.07 on Friday, reaching $2.38. The company's stock had a trading volume of 77,663,102 shares, compared to its average volume of 63,108,728. Plug Power Inc. has a 52 week low of $1.60 and a 52 week high of $5.14. The firm's fifty day simple moving average is $2.11 and its two-hundred day simple moving average is $2.31. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -1.11 and a beta of 1.76.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The business had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. Plug Power's quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.47) earnings per share. Equities analysts anticipate that Plug Power Inc. will post -1.2 earnings per share for the current year.

Plug Power Profile

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.