KBC Group NV Has $1.14 Million Holdings in Plug Power Inc. (NASDAQ:PLUG)

KBC Group NV lifted its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 1.4% during the third quarter, Holdings Channel.com reports. The firm owned 504,808 shares of the electronics maker’s stock after purchasing an additional 7,040 shares during the period. KBC Group NV’s holdings in Plug Power were worth $1,141,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vontobel Holding Ltd. raised its holdings in Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after buying an additional 1,051,400 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Plug Power by 5.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker’s stock valued at $2,065,000 after acquiring an additional 33,311 shares in the last quarter. Gabelli Funds LLC boosted its stake in Plug Power by 42.9% during the 1st quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker’s stock valued at $860,000 after purchasing an additional 75,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Plug Power by 25.9% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,945,162 shares of the electronics maker’s stock worth $4,532,000 after purchasing an additional 400,120 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Plug Power in the second quarter worth approximately $35,000. 43.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Susquehanna decreased their price target on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Evercore ISI reduced their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. Wells Fargo & Company reduced their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, November 14th. Finally, Canaccord Genuity Group dropped their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Plug Power currently has a consensus rating of “Hold” and an average target price of $4.52.

Plug Power Stock Performance

Shares of PLUG stock opened at $1.99 on Tuesday. The firm’s 50 day moving average is $2.08 and its 200 day moving average is $2.40. The stock has a market capitalization of $1.81 billion, a P/E ratio of -0.93 and a beta of 1.81. Plug Power Inc. has a 12 month low of $1.60 and a 12 month high of $5.14. The company has a current ratio of 2.08, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.47) EPS. On average, sell-side analysts anticipate that Plug Power Inc. will post -1.2 earnings per share for the current year.

About Plug Power

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.