Krane Funds Advisors LLC Trims Stock Position in Plug Power, Inc. $PLUG

Krane Funds Advisors LLC trimmed its position in Plug Power, Inc. (NASDAQ:PLUG) by 45.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in PLUG. Kovack Advisors Inc. purchased a new stake in shares of Plug Power during the 3rd quarter valued at approximately $26,000. Sender Co & Partners Inc. acquired a new stake in Plug Power during the second quarter worth $26,000. Prakash Investment Advisors LLC acquired a new stake in Plug Power during the third quarter worth $27,000. Procyon Advisors LLC purchased a new stake in Plug Power in the fourth quarter valued at $29,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of Plug Power in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Performance

NASDAQ PLUG opened at $3.21 on Monday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.40. The company has a market cap of $4.48 billion, a P/E ratio of -2.43 and a beta of 2.12. The stock has a 50-day moving average of $3.19 and a two-hundred day moving average of $2.51. Plug Power, Inc. has a 1-year low of $0.89 and a 1-year high of $4.58.

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

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BTIG Research reissued a “neutral” rating on shares of Plug Power in a research report on Tuesday, March 3rd. Jefferies Financial Group lowered their target price on shares of Plug Power from $2.00 to $1.80 and set a “hold” rating for the company in a research note on Monday, March 9th. B. Riley Financial lifted their price target on shares of Plug Power from $3.00 to $5.00 and gave the company a “buy” rating in a research report on Tuesday, May 12th. BMO Capital Markets boosted their price target on shares of Plug Power from $1.00 to $1.20 and gave the company an “underperform” rating in a research note on Tuesday, May 12th. Finally, Canaccord Genuity Group increased their price objective on shares of Plug Power from $2.50 to $4.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $3.42.

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.