Intech Investment Management LLC Raises Holdings in Plug Power, Inc. $PLUG

Intech Investment Management LLC increased its holdings in Plug Power, Inc. (NASDAQ:PLUG) by 69.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 396,291 shares of the electronics maker’s stock after acquiring an additional 162,672 shares during the period. Intech Investment Management LLC’s holdings in Plug Power were worth $781,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Profund Advisors LLC grew its position in Plug Power by 24.4% in the third quarter. Profund Advisors LLC now owns 20,188 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 3,961 shares during the period. Signature Estate & Investment Advisors LLC grew its position in Plug Power by 33.4% in the third quarter. Signature Estate & Investment Advisors LLC now owns 18,414 shares of the electronics maker’s stock worth $43,000 after acquiring an additional 4,615 shares during the period. International Assets Investment Management LLC grew its position in Plug Power by 53.6% in the fourth quarter. International Assets Investment Management LLC now owns 15,773 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 5,503 shares during the period. Mackenzie Financial Corp grew its position in Plug Power by 10.6% in the third quarter. Mackenzie Financial Corp now owns 58,098 shares of the electronics maker’s stock worth $135,000 after acquiring an additional 5,584 shares during the period. Finally, Rathbones Group PLC grew its position in Plug Power by 23.7% in the fourth quarter. Rathbones Group PLC now owns 30,536 shares of the electronics maker’s stock worth $60,000 after acquiring an additional 5,850 shares during the period. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PLUG. Wells Fargo & Company increased their price objective on Plug Power from $2.00 to $2.50 and gave the stock an “equal weight” rating in a research report on Tuesday, May 19th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a research report on Tuesday, April 21st. Susquehanna increased their price objective on Plug Power from $2.75 to $3.75 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. BTIG Research reiterated a “neutral” rating on shares of Plug Power in a research report on Tuesday, March 3rd. Finally, TD Cowen raised their price target on Plug Power from $2.00 to $3.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, Plug Power currently has an average rating of “Hold” and an average price target of $3.42.

Plug Power Stock Down 0.6%

Shares of NASDAQ PLUG opened at $3.19 on Tuesday. The stock has a market cap of $4.45 billion, a P/E ratio of -2.42 and a beta of 2.12. The company has a current ratio of 2.36, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. Plug Power, Inc. has a 12-month low of $0.99 and a 12-month high of $4.58. The business’s fifty day simple moving average is $3.21 and its 200-day simple moving average is $2.52.

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

Plug Power Company Profile

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.