Handelsbanken Fonder AB Boosts Stock Position in Plug Power, Inc. $PLUG

Handelsbanken Fonder AB boosted its position in Plug Power, Inc. (NASDAQ:PLUG) by 446.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,014,270 shares of the electronics maker’s stock after purchasing an additional 15,537,320 shares during the quarter. Handelsbanken Fonder AB owned about 1.36% of Plug Power worth $51,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLUG. Byrne Asset Management LLC acquired a new stake in shares of Plug Power during the 2nd quarter worth about $147,000. Empowered Funds LLC grew its holdings in shares of Plug Power by 15.5% during the first quarter. Empowered Funds LLC now owns 252,076 shares of the electronics maker’s stock worth $570,000 after buying an additional 33,835 shares in the last quarter. Rathbones Group PLC raised its position in shares of Plug Power by 26.5% in the first quarter. Rathbones Group PLC now owns 38,641 shares of the electronics maker’s stock valued at $87,000 after buying an additional 8,105 shares during the last quarter. J. Derek Lewis & Associates Inc. raised its position in shares of Plug Power by 7.7% in the first quarter. J. Derek Lewis & Associates Inc. now owns 292,555 shares of the electronics maker’s stock valued at $661,000 after buying an additional 21,000 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its stake in shares of Plug Power by 41.7% during the first quarter. Janus Henderson Group PLC now owns 621,428 shares of the electronics maker’s stock valued at $1,401,000 after buying an additional 183,000 shares during the period. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on PLUG shares. Canaccord Genuity Group raised their target price 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. Wall Street Zen downgraded Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. TD Cowen increased their price target on Plug Power from $2.00 to $3.00 and gave the stock a “hold” rating in a research note on Tuesday, May 12th. Morgan Stanley raised their price objective on Plug Power from $1.50 to $1.65 and gave the stock an “underweight” rating in a report on Thursday, July 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price objective on shares of Plug Power in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.46.

Plug Power Price Performance

PLUG opened at $2.22 on Wednesday. The company’s 50 day simple moving average is $2.49 and its 200 day simple moving average is $2.60. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.40 and a current ratio of 2.36. Plug Power, Inc. has a 1 year low of $1.41 and a 1 year high of $4.58. The stock has a market capitalization of $3.10 billion, a PE ratio of -1.76 and a beta of 2.20.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $178.30 million during the quarter, compared to analyst estimates of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 49.54%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Plug Power, Inc. will post -0.25 EPS for the current year.

Plug Power News Roundup

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

• Positive Sentiment: Q2 beat estimates: Plug Power reported approximately $178.3 million in revenue, ahead of analyst expectations near $169 million, while its adjusted loss of $0.07 per share was better than the $0.08 consensus estimate. Revenue rose 2.5% year over year. Plug Reports Revenue of $178 Million and Increases Guidance
• Positive Sentiment: Higher outlook and profitability target: Management raised its 2026 revenue-growth guidance to 15%–16%, implying approximately $816.4 million to $823.5 million in revenue, and maintained its target for positive EBITDA in the fourth quarter. Analysts characterized the update as evidence that the company may be approaching profitability. PLUG Q2 Earnings Call Centers on Margins and Higher Growth
• Positive Sentiment: Major margin improvement: Gross margin moved close to break-even, operating expenses declined sharply, and quarterly net cash usage fell to roughly $61 million. GenDrive deployments and higher-margin service revenue also improved, supporting the turnaround narrative. Plug Power Raises FY26 Outlook and Narrows Loss
• Positive Sentiment: Positive analyst and options activity: HC Wainwright reaffirmed a Buy rating with a $7 price target, while call-option activity was unusually elevated. This positioning may amplify gains if short sellers and bearish options traders cover positions.
• Neutral Sentiment: Long-term opportunity remains substantial: Plug Power points to an approximately $8 billion electrolyzer pipeline and project activity in the United Kingdom, Australia, Canada and Europe. These opportunities could support future growth, but many projects remain dependent on financing, construction and customer decisions.
• Negative Sentiment: Turnaround is incomplete: Plug Power remains loss-making, carries meaningful debt and continues to consume cash. The company is relying partly on asset monetization and restricted-cash releases to strengthen liquidity, creating execution and potential dilution risks.
• Negative Sentiment: Short-interest data is inconsistent: One report lists zero short interest, while another cites roughly 294 million shares sold short. Investors should treat any short-squeeze thesis cautiously until the figures are verified.

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.