BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 17,495 Shares of Plug Power Inc. (NASDAQ:PLUG)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lowered its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 3.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 490,306 shares of the electronics maker’s stock after selling 17,495 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.07% of Plug Power worth $1,142,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PLUG. Vanguard Group Inc. grew its position in shares of Plug Power by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker’s stock worth $189,153,000 after buying an additional 999,194 shares during the last quarter. Norges Bank purchased a new stake in Plug Power in the fourth quarter valued at approximately $97,800,000. Pinnacle Associates Ltd. increased its holdings in Plug Power by 41.4% in the 1st quarter. Pinnacle Associates Ltd. now owns 3,775,808 shares of the electronics maker’s stock worth $12,989,000 after buying an additional 1,105,813 shares during the period. Charles Schwab Investment Management Inc. raised its position in Plug Power by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,374,782 shares of the electronics maker’s stock worth $15,187,000 after buying an additional 102,095 shares during the last quarter. Finally, Swedbank AB acquired a new stake in Plug Power during the 1st quarter valued at approximately $10,687,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Stock Down 3.1 %

Shares of PLUG opened at $1.88 on Tuesday. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The firm has a market cap of $1.40 billion, a P/E ratio of -0.78 and a beta of 1.81. The company’s 50-day moving average price is $2.37 and its 200 day moving average price is $2.85. Plug Power Inc. has a 12-month low of $1.86 and a 12-month high of $8.93.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The firm had revenue of $143.40 million during the quarter, compared to analyst estimates of $184.54 million. During the same period in the previous year, the firm posted ($0.35) earnings per share. The company’s quarterly revenue was down 44.9% compared to the same quarter last year. On average, sell-side analysts forecast that Plug Power Inc. will post -1.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PLUG. Royal Bank of Canada reduced their target price on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a report on Monday, August 12th. Susquehanna cut their target price on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a report on Monday, August 12th. Canaccord Genuity Group decreased their target price on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Craig Hallum dropped their price target on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research report on Tuesday, May 14th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $5.19.

Plug Power Profile

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.