Swiss National Bank decreased its stake in shares of Plug Power Inc. (NASDAQ:PLUG – Free Report) by 1.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,076,588 shares of the electronics maker’s stock after selling 40,200 shares during the quarter. Swiss National Bank owned about 0.35% of Plug Power worth $24,338,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. D.A. Davidson & CO. boosted its holdings in shares of Plug Power by 26.7% in the 4th quarter. D.A. Davidson & CO. now owns 40,266 shares of the electronics maker’s stock valued at $498,000 after acquiring an additional 8,489 shares during the last quarter. Douglas Lane & Associates LLC purchased a new stake in shares of Plug Power in the 1st quarter valued at $270,000. Banque Pictet & Cie SA purchased a new stake in shares of Plug Power in the 4th quarter valued at $328,000. Treasurer of the State of North Carolina boosted its holdings in shares of Plug Power by 0.6% in the 1st quarter. Treasurer of the State of North Carolina now owns 235,136 shares of the electronics maker’s stock valued at $2,756,000 after acquiring an additional 1,430 shares during the last quarter. Finally, Credit Suisse AG boosted its holdings in shares of Plug Power by 13.6% in the 4th quarter. Credit Suisse AG now owns 1,998,100 shares of the electronics maker’s stock valued at $24,716,000 after acquiring an additional 238,924 shares during the last quarter. Institutional investors and hedge funds own 49.75% of the company’s stock.
Analysts Set New Price Targets
Several research firms have recently commented on PLUG. Citigroup began coverage on shares of Plug Power in a report on Wednesday, July 5th. They issued a “buy” rating and a $13.00 price objective on the stock. Seaport Res Ptn reissued a “buy” rating on shares of Plug Power in a report on Tuesday, June 6th. Royal Bank of Canada lowered their price target on shares of Plug Power from $17.00 to $12.00 in a report on Wednesday, May 10th. B. Riley lowered their price target on shares of Plug Power from $26.00 to $18.00 in a report on Tuesday, June 27th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Plug Power from $23.00 to $20.00 in a report on Monday, May 1st. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, Plug Power currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.63.
Plug Power Stock Up 2.3 %
Plug Power stock opened at $8.84 on Tuesday. Plug Power Inc. has a 12-month low of $7.39 and a 12-month high of $31.56. The company has a 50-day moving average price of $10.77 and a 200 day moving average price of $10.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 3.16.
Plug Power (NASDAQ:PLUG – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The electronics maker reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.07). Plug Power had a negative return on equity of 20.27% and a negative net margin of 95.15%. The firm had revenue of $260.18 million for the quarter, compared to analyst estimates of $237.38 million. As a group, analysts expect that Plug Power Inc. will post -1.15 EPS for the current fiscal year.
Plug Power Profile
Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.