KLP Kapitalforvaltning AS Has $297,000 Stock Holdings in Plug Power, Inc. $PLUG

KLP Kapitalforvaltning AS raised its stake in Plug Power, Inc. (NASDAQ:PLUG) by 32.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 199,200 shares of the electronics maker’s stock after buying an additional 49,200 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Plug Power were worth $297,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Baader Bank Aktiengesellschaft acquired a new position in Plug Power in the 1st quarter valued at $28,000. O ROURKE & COMPANY Inc acquired a new position in Plug Power in the 2nd quarter valued at $30,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Plug Power in the 1st quarter valued at $34,000. JNBA Financial Advisors acquired a new position in Plug Power in the 1st quarter valued at $37,000. Finally, Focus Partners Wealth acquired a new position in shares of Plug Power during the 1st quarter worth $37,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on PLUG. Evercore ISI raised Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Susquehanna boosted their price target on Plug Power from $1.80 to $3.50 and gave the stock a “neutral” rating in a report on Monday, October 13th. HC Wainwright boosted their price target on Plug Power from $3.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, October 3rd. Wells Fargo & Company boosted their price target on Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a report on Thursday, August 14th. Finally, BMO Capital Markets lowered their price target on Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and an average target price of $2.54.

Plug Power Trading Down 2.3%

Shares of PLUG stock opened at $3.40 on Monday. The firm has a market capitalization of $3.93 billion, a P/E ratio of -1.47 and a beta of 2.23. Plug Power, Inc. has a twelve month low of $0.69 and a twelve month high of $4.58. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. The stock’s fifty day simple moving average is $2.25 and its 200 day simple moving average is $1.55.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Monday, August 11th. The electronics maker reported ($0.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative return on equity of 90.22% and a negative net margin of 292.84%. As a group, sell-side analysts predict that Plug Power, Inc. will post -1.21 EPS for the current fiscal 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.