Swiss National Bank Acquires 400,300 Shares of Plug Power, Inc. $PLUG

Swiss National Bank grew its holdings in Plug Power, Inc. (NASDAQ:PLUG) by 18.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,616,688 shares of the electronics maker’s stock after purchasing an additional 400,300 shares during the quarter. Swiss National Bank owned about 0.19% of Plug Power worth $5,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Independent Financial Group LLC bought a new stake in Plug Power in the first quarter worth approximately $54,000. Wealthfront Advisers LLC lifted its stake in Plug Power by 8.2% in the first quarter. Wealthfront Advisers LLC now owns 69,709 shares of the electronics maker’s stock valued at $158,000 after buying an additional 5,283 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Plug Power by 10.7% during the 1st quarter. Bank of New York Mellon Corp now owns 4,010,375 shares of the electronics maker’s stock worth $9,063,000 after buying an additional 387,699 shares in the last quarter. Calamos Advisors LLC bought a new position in shares of Plug Power during the 1st quarter worth approximately $68,000. Finally, Principal Financial Group Inc. grew its position in shares of Plug Power by 16.0% during the 1st quarter. Principal Financial Group Inc. now owns 56,307 shares of the electronics maker’s stock worth $127,000 after buying an additional 7,761 shares during the period. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

Shares of PLUG stock opened at $1.96 on Wednesday. The company has a current ratio of 2.36, a quick ratio of 1.40 and a debt-to-equity ratio of 0.89. The firm has a fifty day simple moving average of $2.84 and a two-hundred day simple moving average of $2.61. Plug Power, Inc. has a 12 month low of $1.39 and a 12 month high of $4.58. The firm has a market capitalization of $2.73 billion, a PE ratio of -1.48 and a beta of 2.16.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Monday, May 11th. The electronics maker reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.01. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The company had revenue of $163.51 million during the quarter, compared to the consensus estimate of $139.87 million. During the same period in the previous year, the firm posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. Analysts forecast that Plug Power, Inc. will post -0.25 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on PLUG. Weiss Ratings upgraded shares of Plug Power from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. TD Cowen increased their target price on shares of Plug Power from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Wells Fargo & Company raised their price target on shares of Plug Power from $2.00 to $2.50 and gave the stock an “equal weight” rating in a report on Tuesday, May 19th. Wall Street Zen downgraded shares of Plug Power from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Finally, B. Riley Financial upped their price objective on shares of Plug Power from $3.00 to $5.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $3.30.

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.