Swedbank AB Acquires 66,844 Shares of Plug Power Inc. (NASDAQ:PLUG)

Swedbank AB raised its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 39.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 235,233 shares of the electronics maker’s stock after acquiring an additional 66,844 shares during the quarter. Swedbank AB’s holdings in Plug Power were worth $501,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nations Financial Group Inc. IA ADV boosted its position in Plug Power by 42.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 4,700 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Plug Power by 18.2% during the third quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after buying an additional 5,075 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Plug Power by 0.7% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock valued at $1,817,000 after buying an additional 5,485 shares in the last quarter. Catalyst Capital Advisors LLC grew its position in shares of Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares during the last quarter. Finally, Millburn Ridgefield Corp raised its stake in shares of Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares in the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Price Performance

NASDAQ:PLUG opened at $1.86 on Monday. The company has a 50 day moving average price of $2.36 and a 200-day moving average price of $2.19. Plug Power Inc. has a 1-year low of $1.60 and a 1-year high of $5.14. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of -0.87 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) 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 firm had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same period in the previous year, the company earned ($0.47) earnings per share. The company’s revenue was down 12.6% compared to the same quarter last year. Equities research analysts forecast that Plug Power Inc. will post -1.21 EPS for the current year.

Analyst Upgrades and Downgrades

PLUG has been the topic of several analyst reports. HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Susquehanna boosted their target price on Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Seaport Res Ptn cut Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Evercore ISI dropped their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Finally, Canaccord Genuity Group lowered their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.18.

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.