Oppenheimer & Co. Inc. Has $1.06 Million Stake in Plug Power Inc. (NASDAQ:PLUG)

Posted by on Aug 27th, 2023

Oppenheimer & Co. Inc. lowered its position in Plug Power Inc. (NASDAQ:PLUG – Free Report) by 8.9% during the first quarter, according to its most recent filing with the SEC. The firm owned 90,419 shares of the electronics maker’s stock after selling 8,797 shares during the period. Oppenheimer & Co. Inc.’s holdings in Plug Power were worth $1,060,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLUG. Norges Bank acquired a new position in shares of Plug Power in the 4th quarter worth approximately $211,176,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of Plug Power by 69.1% in the 4th quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,213,803 shares of the electronics maker’s stock valued at $212,935,000 after acquiring an additional 7,035,344 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Plug Power by 244.3% in the 4th quarter. Schroder Investment Management Group now owns 4,922,841 shares of the electronics maker’s stock valued at $60,896,000 after acquiring an additional 3,493,122 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Plug Power by 40.3% in the 4th quarter. First Trust Advisors LP now owns 4,647,826 shares of the electronics maker’s stock valued at $57,485,000 after acquiring an additional 1,336,202 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its stake in shares of Plug Power by 74.7% in the 4th quarter. Handelsbanken Fonder AB now owns 2,819,520 shares of the electronics maker’s stock valued at $34,877,000 after acquiring an additional 1,205,596 shares in the last quarter. Institutional investors and hedge funds own 49.75% of the company’s stock.

Plug Power Stock Up 1.8 %

Shares of NASDAQ:PLUG opened at $8.13 on Friday. The company’s 50-day moving average is $10.56 and its 200 day moving average is $10.70. The company has a debt-to-equity ratio of 0.14, a current ratio of 3.16 and a quick ratio of 2.07. Plug Power Inc. has a fifty-two week low of $7.39 and a fifty-two week high of $30.67.

Plug Power (NASDAQ:PLUG – Get Free Report) last issued its quarterly earnings results on Wednesday, August 9th. The electronics maker reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.28) by ($0.07). The company had revenue of $260.18 million during the quarter, compared to analysts’ expectations of $237.38 million. Plug Power had a negative return on equity of 20.27% and a negative net margin of 95.15%. Equities analysts forecast that Plug Power Inc. will post -1.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLUG. Seaport Res Ptn reiterated a “buy” rating on shares of Plug Power in a research note on Tuesday, June 6th. Royal Bank of Canada lowered their price objective on shares of Plug Power from $17.00 to $12.00 in a research note on Wednesday, May 10th. Roth Mkm reiterated a “neutral” rating and issued a $7.50 price objective (down previously from $13.00) on shares of Plug Power in a research note on Thursday, August 10th. Roth Capital lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, August 10th. Finally, HC Wainwright restated a “buy” rating on shares of Plug Power in a research note on Thursday, August 10th. Eight equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Moderate Buy” and a consensus price target of $18.64.

Check Out Our Latest Research Report on PLUG

Plug Power Profile

(Free Report)

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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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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