Forsta AP Fonden raised its holdings in shares of Plug Power Inc. (NASDAQ:PLUG – Get Rating) by 101.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,500 shares of the electronics maker’s stock after acquiring an additional 112,300 shares during the quarter. Forsta AP Fonden’s holdings in Plug Power were worth $2,752,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Private Advisor Group LLC grew its position in Plug Power by 1.8% during the third quarter. Private Advisor Group LLC now owns 35,985 shares of the electronics maker’s stock valued at $756,000 after purchasing an additional 619 shares in the last quarter. CWM LLC grew its holdings in shares of Plug Power by 7.6% during the 4th quarter. CWM LLC now owns 9,819 shares of the electronics maker’s stock valued at $121,000 after acquiring an additional 691 shares in the last quarter. Natixis Advisors L.P. grew its holdings in shares of Plug Power by 0.9% during the 2nd quarter. Natixis Advisors L.P. now owns 79,424 shares of the electronics maker’s stock valued at $1,316,000 after acquiring an additional 723 shares in the last quarter. Millburn Ridgefield Corp increased its stake in shares of Plug Power by 47.8% in the fourth quarter. Millburn Ridgefield Corp now owns 2,316 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 749 shares during the last quarter. Finally, Flputnam Investment Management Co. raised its holdings in shares of Plug Power by 1.9% during the fourth quarter. Flputnam Investment Management Co. now owns 39,758 shares of the electronics maker’s stock worth $492,000 after acquiring an additional 754 shares in the last quarter. Institutional investors and hedge funds own 52.07% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on PLUG. Citigroup dropped their target price on Plug Power from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Sunday, March 5th. UBS Group cut their price objective on shares of Plug Power from $26.00 to $24.00 in a research report on Friday. Susquehanna decreased their target price on shares of Plug Power from $28.00 to $25.00 in a research report on Thursday, January 26th. BMO Capital Markets cut their price target on shares of Plug Power from $18.00 to $15.00 and set a “market perform” rating on the stock in a report on Thursday, March 2nd. Finally, Morgan Stanley cut shares of Plug Power from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $35.00 to $15.00 in a report on Monday, April 3rd. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.64.
Plug Power Stock Up 2.3 %
Plug Power (NASDAQ:PLUG – Get Rating) last released its earnings results on Wednesday, March 1st. The electronics maker reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.12). The firm had revenue of $220.74 million for the quarter, compared to analyst estimates of $264.36 million. Plug Power had a negative return on equity of 16.94% and a negative net margin of 103.22%. On average, sell-side analysts anticipate that Plug Power Inc. will post -0.77 earnings per share for the current year.
Plug Power Company Profile
Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.
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