Plug Power Inc. (NASDAQ:PLUG) Shares Bought by Symmetry Investments LP

Symmetry Investments LP increased its stake in Plug Power Inc. (NASDAQ:PLUGFree Report) by 6.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 222,380 shares of the electronics maker’s stock after acquiring an additional 14,400 shares during the quarter. Symmetry Investments LP’s holdings in Plug Power were worth $1,001,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of PLUG. Neuberger Berman Group LLC boosted its position in shares of Plug Power by 39.4% in the fourth quarter. Neuberger Berman Group LLC now owns 47,296 shares of the electronics maker’s stock worth $213,000 after buying an additional 13,377 shares during the period. Quadrature Capital Ltd acquired a new stake in shares of Plug Power in the fourth quarter worth $5,133,000. Gabelli Funds LLC boosted its position in shares of Plug Power by 100.0% in the fourth quarter. Gabelli Funds LLC now owns 175,000 shares of the electronics maker’s stock worth $788,000 after buying an additional 87,500 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Plug Power by 120.8% in the fourth quarter. 1832 Asset Management L.P. now owns 34,000 shares of the electronics maker’s stock worth $153,000 after buying an additional 18,600 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of Plug Power by 15.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,585 shares of the electronics maker’s stock worth $84,000 after buying an additional 2,526 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Citigroup cut Plug Power from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $3.25 to $2.00 in a research report on Friday, April 5th. TD Cowen reduced their price objective on Plug Power from $7.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Susquehanna reduced their price objective on Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Evercore ISI reduced their price objective on Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Finally, Canaccord Genuity Group reduced their price objective on Plug Power from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Monday, May 13th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Plug Power currently has an average rating of “Hold” and a consensus price target of $5.49.

View Our Latest Stock Report on Plug Power

Insider Transactions at Plug Power

In other news, Director George C. Mcnamee sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $2.56, for a total value of $25,600.00. Following the transaction, the director now directly owns 639,572 shares of the company’s stock, valued at approximately $1,637,304.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.70% of the stock is owned by company insiders.

Plug Power Stock Down 2.4 %

NASDAQ PLUG opened at $2.90 on Tuesday. The company has a current ratio of 1.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The stock’s 50 day moving average is $2.94 and its two-hundred day moving average is $3.55. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -1.24 and a beta of 1.77. Plug Power Inc. has a 1-year low of $2.25 and a 1-year high of $13.44.

Plug Power (NASDAQ:PLUGGet Free Report) last released its quarterly earnings data on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). The company had revenue of $120.26 million for the quarter, compared to analyst estimates of $162.92 million. Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. Equities analysts forecast that Plug Power Inc. will post -1.13 earnings per share for the current fiscal year.

Plug Power Company Profile

(Free Report)

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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