Plug Power, Inc. $PLUG Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. boosted its holdings in Plug Power, Inc. (NASDAQ:PLUG) by 18.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,599,295 shares of the electronics maker’s stock after purchasing an additional 19,967,339 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Plug Power worth $255,311,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLUG. Kovack Advisors Inc. acquired a new position in Plug Power in the third quarter valued at approximately $26,000. Sender Co & Partners Inc. acquired a new position in Plug Power in the second quarter valued at approximately $26,000. Prakash Investment Advisors LLC acquired a new position in Plug Power in the third quarter valued at approximately $27,000. Procyon Advisors LLC acquired a new stake in shares of Plug Power in the fourth quarter valued at approximately $29,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in shares of Plug Power in the third quarter valued at approximately $30,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $3.12 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.31 and a quick ratio of 1.46. The stock has a fifty day moving average price of $2.55 and a 200 day moving average price of $2.36. Plug Power, Inc. has a 1-year low of $0.69 and a 1-year high of $4.58. The company has a market cap of $4.35 billion, a PE ratio of -2.31 and a beta of 2.06.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, March 2nd. The electronics maker reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.04. Plug Power had a negative return on equity of 45.97% and a negative net margin of 229.83%.The firm had revenue of $225.22 million during the quarter, compared to the consensus estimate of $217.38 million. During the same period last year, the company earned ($1.48) earnings per share. Sell-side analysts forecast that Plug Power, Inc. will post -0.3 EPS for the current year.

Key Stories Impacting Plug Power

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Investors are encouraged by signs of operational improvement, including Plug Power’s first-ever positive gross profit and stronger expectations for revenue growth heading into the May 11 earnings release. How Plug Power’s First Positive Margin and Electrolyzer Deal Could Impact Plug Power (PLUG) Investors
• Positive Sentiment: A major 275 MW electrolyzer contract in Canada is boosting sentiment by strengthening Plug Power’s hydrogen project pipeline and reinforcing demand expectations. Plug Power (PLUG) Valuation Check As First Gross Profit And Major Canada Contract Lift Expectations
• Neutral Sentiment: The market is focused on whether Q1 results will show continued growth in services and hydrogen revenues, with the report likely to drive the next big move in the shares. What to Note Ahead of Plug Power’s Q1 Earnings Release?
• Neutral Sentiment: Recent trading has been highly volatile, with the stock pulling back after a strong April run, suggesting investors may be taking profits while waiting for clearer earnings confirmation. Plug Power (PLUG) Falls More Steeply Than Broader Market: What Investors Need to Know
• Negative Sentiment: Rising costs and foreign-exchange headwinds could pressure margins, which is a key risk for investors heading into earnings. What to Note Ahead of Plug Power’s Q1 Earnings Release?

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLUG. Oppenheimer reissued a “market perform” rating on shares of Plug Power in a report on Tuesday, March 3rd. TD Cowen downgraded Plug Power from a “buy” rating to a “hold” rating in a report on Friday, January 9th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Plug Power in a report on Tuesday, March 3rd. BTIG Research reissued a “neutral” rating on shares of Plug Power in a report on Tuesday, March 3rd. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a report on Tuesday, April 21st. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $3.03.

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.