Plug Power Inc. (NASDAQ:PLUG) Stock Holdings Trimmed by Capstone Investment Advisors LLC

Capstone Investment Advisors LLC decreased its holdings in Plug Power Inc. (NASDAQ:PLUG) by 47.7% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 67,597 shares of the electronics maker’s stock after selling 61,548 shares during the quarter. Capstone Investment Advisors LLC’s holdings in Plug Power were worth $153,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Plug Power by 5.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,929,676 shares of the electronics maker’s stock valued at $4,361,000 after acquiring an additional 92,736 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after purchasing an additional 5,485 shares during the period. First Commonwealth Financial Corp PA bought a new position in Plug Power during the 3rd quarter valued at $29,000. MetLife Investment Management LLC increased its position in shares of Plug Power by 166.4% during the 3rd quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock valued at $959,000 after purchasing an additional 265,042 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Plug Power by 24.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after buying an additional 476,060 shares in the last quarter. 43.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PLUG has been the subject of several research reports. Royal Bank of Canada decreased their target price on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Evercore ISI reduced their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Jefferies Financial Group reduced their target price on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Piper Sandler cut their price objective on Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.52.

Plug Power Stock Up 5.2 %

Plug Power stock opened at $2.24 on Monday. Plug Power Inc. has a twelve month low of $1.60 and a twelve month high of $5.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The firm has a market cap of $2.04 billion, a PE ratio of -1.05 and a beta of 1.81. The firm’s 50 day moving average price is $2.09 and its two-hundred day moving average price is $2.36.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company’s revenue was down 12.6% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share. On average, research analysts predict that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Plug Power Company 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.