Krane Funds Advisors LLC Lowers Stock Holdings in Plug Power, Inc. $PLUG

Krane Funds Advisors LLC cut its holdings in Plug Power, Inc. (NASDAQ:PLUG) by 45.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 238,517 shares of the electronics maker’s stock after selling 201,466 shares during the quarter. Krane Funds Advisors LLC’s holdings in Plug Power were worth $470,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in PLUG. Kovack Advisors Inc. acquired a new stake in Plug Power in the 3rd quarter valued at $26,000. Prakash Investment Advisors LLC acquired a new position in Plug Power during the third quarter worth $27,000. Prime Capital Investment Advisors LLC purchased a new position in Plug Power during the third quarter valued at $30,000. Kestra Private Wealth Services LLC purchased a new position in Plug Power during the third quarter valued at $32,000. Finally, Procyon Advisors LLC acquired a new stake in shares of Plug Power in the fourth quarter valued at about $29,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PLUG shares. Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research report on Tuesday, April 21st. HC Wainwright reissued a “buy” rating and set a $7.00 target price on shares of Plug Power in a report on Tuesday, March 3rd. Jefferies Financial Group decreased their target price on Plug Power from $2.00 to $1.80 and set a “hold” rating on the stock in a research report on Monday, March 9th. Wells Fargo & Company lifted their price target on Plug Power from $2.00 to $2.50 and gave the stock an “equal weight” rating in a research note on Tuesday, May 19th. Finally, TD Cowen boosted their price target on Plug Power from $2.00 to $3.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $3.42.

Plug Power Stock Down 0.3%

Shares of NASDAQ PLUG opened at $3.21 on Monday. Plug Power, Inc. has a 12-month low of $0.89 and a 12-month high of $4.58. The stock has a market cap of $4.48 billion, a PE ratio of -2.43 and a beta of 2.12. The company has a current ratio of 2.36, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. The company has a 50-day moving average of $3.19 and a 200 day moving average of $2.51.

Plug Power (NASDAQ:PLUG) last released its earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.01. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The business had revenue of $163.51 million for the quarter, compared to analyst estimates of $139.87 million. During the same period last year, the company posted ($0.21) EPS. The business’s revenue was up 22.3% on a year-over-year basis. As a group, sell-side analysts predict that Plug Power, Inc. will post -0.26 EPS for the current fiscal year.

About Plug Power

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.