MetLife Investment Management LLC increased its position in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 166.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 424,297 shares of the electronics maker's stock after buying an additional 265,042 shares during the quarter. MetLife Investment Management LLC's holdings in Plug Power were worth $959,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of Plug Power by 25.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock valued at $15,000,000 after acquiring an additional 1,354,500 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Plug Power by 23.6% during the third quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker's stock valued at $8,803,000 after purchasing an additional 809,187 shares in the last quarter. Vontobel Holding Ltd. grew its stake in shares of Plug Power by 44.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker's stock valued at $7,744,000 after purchasing an additional 1,051,400 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Plug Power by 69.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker's stock worth $5,896,000 after buying an additional 1,036,777 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Plug Power by 134.0% during the 2nd quarter. SG Americas Securities LLC now owns 2,458,537 shares of the electronics maker's stock worth $5,728,000 after buying an additional 1,407,858 shares during the period. 43.48% of the stock is currently owned by institutional investors.
Plug Power Trading Down 2.9 %
NASDAQ:PLUG traded down $0.07 on Friday, hitting $2.38. 77,663,102 shares of the company's stock were exchanged, compared to its average volume of 63,108,728. The firm has a 50-day moving average price of $2.11 and a 200-day moving average price of $2.33. Plug Power Inc. has a 52 week low of $1.60 and a 52 week high of $5.14. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.
Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same period last year, the firm earned ($0.47) EPS. The firm's revenue for the quarter was down 12.6% compared to the same quarter last year. Equities research analysts anticipate that Plug Power Inc. will post -1.2 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the stock. Susquehanna reduced their target price on shares of Plug Power from $3.00 to $2.00 and set a "neutral" rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group reduced their price target on shares of Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a research report on Thursday, October 3rd. HC Wainwright reaffirmed a "buy" rating and set a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. 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. Finally, Canaccord Genuity Group decreased 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. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Plug Power currently has a consensus rating of "Hold" and an average target price of $4.52.
View Our Latest Research Report on Plug Power
About Plug Power
(
Free Report)
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.
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