Plug Power Inc. (NASDAQ:PLUG) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in shares of Plug Power Inc. (NASDAQ:PLUG) by 23.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,715 shares of the electronics maker’s stock after acquiring an additional 13,838 shares during the period. Victory Capital Management Inc.’s holdings in Plug Power were worth $327,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. FAS Wealth Partners Inc. acquired a new stake in Plug Power during the 4th quarter valued at approximately $45,000. First Affirmative Financial Network acquired a new stake in Plug Power during the 4th quarter valued at approximately $50,000. Griffin Asset Management Inc. acquired a new stake in Plug Power during the 4th quarter valued at approximately $54,000. Waldron Private Wealth LLC acquired a new stake in Plug Power during the 4th quarter valued at approximately $60,000. Finally, Bridgewealth Advisory Group LLC purchased a new position in shares of Plug Power during the 4th quarter valued at approximately $68,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Plug Power

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $2.56, for a total value of $25,600.00. Following the transaction, the director now owns 639,572 shares of the company’s stock, valued at $1,637,304.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.70% of the stock is currently owned by corporate insiders.

Plug Power Trading Up 5.7 %

Shares of PLUG stock opened at $3.25 on Friday. The company’s 50-day moving average price is $2.98 and its 200-day moving average price is $3.63. 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 has a market cap of $2.41 billion, a price-to-earnings ratio of -1.35 and a beta of 1.64. Plug Power Inc. has a twelve month low of $2.25 and a twelve month high of $13.44.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.52). The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The company’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.38) EPS. As a group, equities analysts predict that Plug Power Inc. will post -1.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PLUG shares. HC Wainwright reaffirmed a “buy” rating and set a $18.00 target price on shares of Plug Power in a report on Tuesday, May 14th. Piper Sandler cut their target price on shares of Plug Power from $2.90 to $2.50 and set an “underweight” rating for the company in a report on Friday, May 10th. TD Cowen cut their target price on shares of Plug Power from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, May 10th. Craig Hallum cut their target price on shares of Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, March 4th. Finally, Marathon Capitl reaffirmed an “equal weight” rating on shares of Plug Power in a report on Tuesday, March 26th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $5.49.

Plug Power Profile

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.