Plug Power, Inc. $PLUG Stake Cut by Deutsche Bank AG

Deutsche Bank AG reduced its stake in shares of Plug Power, Inc. (NASDAQ:PLUG) by 17.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,628,425 shares of the electronics maker’s stock after selling 337,190 shares during the quarter. Deutsche Bank AG’s holdings in Plug Power were worth $4,413,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Plug Power by 12.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,607,153 shares of the electronics maker’s stock valued at $3,520,000 after purchasing an additional 297,754 shares during the last quarter. Focus Partners Wealth acquired a new position in Plug Power in the 1st quarter worth about $37,000. JPMorgan Chase & Co. raised its stake in shares of Plug Power by 6.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,504,744 shares of the electronics maker’s stock worth $2,242,000 after purchasing an additional 95,876 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Plug Power by 87.2% during the 2nd quarter. Prudential Financial Inc. now owns 111,945 shares of the electronics maker’s stock worth $167,000 after purchasing an additional 52,135 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of Plug Power by 24.7% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 73,084 shares of the electronics maker’s stock worth $109,000 after purchasing an additional 14,471 shares in the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Stock Up 4.6%

PLUG opened at $2.27 on Wednesday. The business has a 50 day moving average of $2.33 and a 200-day moving average of $2.60. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of -1.80 and a beta of 2.20. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29. Plug Power, Inc. has a 1-year low of $1.41 and a 1-year high of $4.58.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. The company had revenue of $178.30 million for the quarter, compared to the consensus estimate of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The business’s revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Plug Power, Inc. will post -0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

PLUG has been the subject of a number of analyst reports. TD Cowen lifted their target price on shares of Plug Power from $2.00 to $3.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. UBS Group restated a “buy” rating and set a $5.00 price target on shares of Plug Power in a research note on Tuesday, August 11th. Susquehanna cut their price target on shares of Plug Power from $3.75 to $2.50 and set a “neutral” rating on the stock in a report on Friday, July 10th. Wells Fargo & Company lifted their price objective on shares of Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a research note on Tuesday, May 19th. Finally, B. Riley Financial upped their price objective on shares of Plug Power from $3.00 to $5.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $3.59.

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.