5 Stocks Under $5 With High Potential

3. Plug Power, Inc. (NASDAQ:PLUG)

Share Price as of December 14: $4.89

Number of Hedge Fund Holders: 26

Plug Power, Inc. (NASDAQ:PLUG), based in Latham, New York, is building an end-to-end green hydrogen ecosystem, from production, storage, and delivery to energy generation. It has deployed more than 60,000 fuel cell systems and over 180 fueling stations and operates a state-of-the-art Gigafactory to produce electrolyzers and fuel cells.

On November 7, Plug Power, Inc. (NASDAQ:PLUG) released its financial results for Q3 2023. Its revenues increased by 5% y-o-y to $199 million, while net loss surged by 66% y-o-y to $283 million. The company missed consensus estimates for normalized EPS by $0.15 with quarterly figures of -$0.45.

As of Q3 2023, Plug Power, Inc. (NASDAQ:PLUG) shares were held by 26 hedge funds with the total shares held by them valued at $129 million. Israel Englander’s Millennium Management was its largest hedge fund shareholder with ownership of 3.4 million shares valued at $26 million.