Asset Management One Co. Ltd. Has $395,000 Stake in Plug Power, Inc. (PLUG)
Asset Management One Co. Ltd. increased its stake in shares of Plug Power, Inc. (NASDAQ:PLUG) by 34.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,299 shares of the electronics maker’s stock after buying an additional 73,274 shares during the period. Asset Management One Co. Ltd.’s holdings in Plug Power were worth $395,000 as of its most recent SEC filing.
A number of other institutional investors also recently bought and sold shares of PLUG. State Street Corp raised its position in Plug Power by 7.2% in the fourth quarter. State Street Corp now owns 2,984,022 shares of the electronics maker’s stock valued at $3,578,000 after buying an additional 199,300 shares during the last quarter. Hudson Bay Capital Management LP bought a new position in Plug Power during the fourth quarter valued at $12,264,000. Teachers Advisors LLC raised its position in Plug Power by 1.8% in the fourth quarter. Teachers Advisors LLC now owns 385,028 shares of the electronics maker’s stock valued at $462,000 after buying an additional 6,680 shares during the last quarter. Nationwide Fund Advisors raised its position in Plug Power by 4.6% in the first quarter. Nationwide Fund Advisors now owns 117,225 shares of the electronics maker’s stock valued at $162,000 after buying an additional 5,127 shares during the last quarter. Finally, IFC Holdings Incorporated FL raised its position in Plug Power by 33.5% in the first quarter. IFC Holdings Incorporated FL now owns 135,500 shares of the electronics maker’s stock valued at $189,000 after buying an additional 34,000 shares during the last quarter. Institutional investors own 17.54% of the company’s stock.
Plug Power, Inc. (PLUG) traded down 0.667% during midday trading on Tuesday, reaching $2.235. 729,851 shares of the company’s stock traded hands. Plug Power, Inc. has a one year low of $0.83 and a one year high of $2.70. The stock’s market cap is $499.42 million. The stock’s 50 day moving average price is $2.04 and its 200-day moving average price is $1.55.
Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, May 9th. The electronics maker reported ($0.13) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by $0.06. Plug Power had a negative return on equity of 68.47% and a negative net margin of 81.41%. The business had revenue of $15.20 million during the quarter, compared to analysts’ expectations of $24.90 million. During the same period in the prior year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Equities analysts predict that Plug Power, Inc. will post ($0.24) earnings per share for the current year.
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Several equities analysts recently weighed in on PLUG shares. FBR & Co restated an “outperform” rating and set a $2.50 price target on shares of Plug Power in a research report on Monday, February 27th. Morgan Stanley reduced their price target on shares of Plug Power from $3.00 to $1.50 and set an “equal weight” rating for the company in a research report on Tuesday, February 28th. Zacks Investment Research upgraded shares of Plug Power from a “sell” rating to a “hold” rating in a research report on Wednesday, March 1st. Cowen and Company restated an “outperform” rating and set a $1.75 price target on shares of Plug Power in a research report on Saturday, March 11th. Finally, Rodman & Renshaw increased their price target on shares of Plug Power from $3.00 to $4.00 and gave the company a “buy” rating in a research report on Thursday, April 6th. Two analysts have rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $2.80.
Plug Power Company Profile
Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.
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