Plug Power, Inc. $PLUG Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Plug Power, Inc. (NASDAQ:PLUG) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,525,728 shares of the electronics maker’s stock, valued at approximately $6,840,000. Mirae Asset Global Investments Co. Ltd. owned 0.25% of Plug Power as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of PLUG. Vise Technologies Inc. grew its stake in shares of Plug Power by 125.6% during the 3rd quarter. Vise Technologies Inc. now owns 23,460 shares of the electronics maker’s stock worth $46,000 after purchasing an additional 13,060 shares during the period. MGO One Seven LLC increased its holdings in shares of Plug Power by 146.6% during the 3rd quarter. MGO One Seven LLC now owns 35,726 shares of the electronics maker’s stock valued at $69,000 after purchasing an additional 21,236 shares in the last quarter. State of Wyoming lifted its stake in shares of Plug Power by 111.8% in the 3rd quarter. State of Wyoming now owns 80,425 shares of the electronics maker’s stock valued at $156,000 after purchasing an additional 42,447 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Plug Power by 111.6% in the 3rd quarter. International Assets Investment Management LLC now owns 50,000 shares of the electronics maker’s stock valued at $97,000 after purchasing an additional 26,368 shares during the period. Finally, Oppenheimer & Co. Inc. acquired a new position in shares of Plug Power in the 3rd quarter valued at $33,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Plug Power news, insider Benjamin Haycraft sold 200,000 shares of the company’s stock in a transaction on Friday, September 18th. The shares were sold at an average price of $2.14, for a total transaction of $428,000.00. Following the completion of the transaction, the insider directly owned 101,249 shares in the company, valued at approximately $216,672.86. This represents a 66.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 241,935 shares of company stock worth $509,397 in the last ninety days. Corporate insiders own 1.37% of the company’s stock.

Plug Power Stock Down 7.5%

Plug Power stock opened at $1.35 on Friday. The stock has a market capitalization of $1.89 billion, a PE ratio of -1.07 and a beta of 2.13. Plug Power, Inc. has a 12 month low of $1.30 and a 12 month high of $4.33. The business has a 50 day simple moving average of $1.79 and a 200-day simple moving average of $2.37. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.32 and a quick ratio of 1.32.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Monday, August 10th. The electronics maker reported ($0.07) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.01. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%. The business had revenue of $178.30 million during the quarter, compared to the consensus estimate of $169.11 million. Plug Power’s revenue was up 2.5% on a year-over-year basis. On average, analysts anticipate that Plug Power, Inc. will post -0.25 EPS for the current fiscal year.

Analysts Set New Price Targets

PLUG has been the topic of a number of recent analyst reports. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Plug Power in a report on Tuesday, September 29th. Jefferies Financial Group raised shares of Plug Power to a “hold” rating in a report on Thursday, September 3rd. Weiss Ratings upgraded shares of Plug Power from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, October 21st. Wall Street Zen upgraded shares of Plug Power from a “strong sell” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Craig Hallum reissued a “buy” rating on shares of Plug Power in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $3.40.

About Plug Power

Plug Power Inc is a clean-energy technology company that develops hydrogen and fuel-cell solutions for commercial and industrial customers. Founded in 1997 and headquartered in Latham, New York, the company focuses on replacing conventional batteries and fossil-fuel-powered equipment with hydrogen-based power systems.

Its product portfolio includes fuel-cell systems for material-handling equipment, backup and stationary power, and commercial vehicles; hydrogen engines and fuel-cell stacks; electrolyzers that produce hydrogen from water; and hydrogen generation, storage, and delivery infrastructure.