Private Advisor Group LLC Acquires 22,770 Shares of Plug Power Inc. (NASDAQ:PLUG)

Private Advisor Group LLC grew its holdings in Plug Power Inc. (NASDAQ:PLUG) by 53.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 65,594 shares of the electronics maker’s stock after purchasing an additional 22,770 shares during the quarter. Private Advisor Group LLC’s holdings in Plug Power were worth $148,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SteelPeak Wealth LLC bought a new stake in shares of Plug Power in the 2nd quarter valued at about $26,000. Nations Financial Group Inc. IA ADV purchased a new stake in Plug Power during the second quarter valued at approximately $26,000. Aire Advisors LLC purchased a new stake in Plug Power during the second quarter valued at approximately $28,000. Madison Park Capital Advisors LLC purchased a new stake in Plug Power during the second quarter valued at approximately $29,000. Finally, Profund Advisors LLC purchased a new stake in Plug Power during the second quarter valued at approximately $29,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Up 1.0 %

PLUG stock opened at $2.06 on Friday. The firm has a market cap of $1.81 billion, a PE ratio of -0.87 and a beta of 1.81. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.07. The firm’s fifty day moving average is $2.05 and its 200 day moving average is $2.42. Plug Power Inc. has a one year low of $1.60 and a one year high of $6.33.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The firm had revenue of $143.40 million for the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The firm’s quarterly revenue was down 44.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.35) EPS. On average, research analysts forecast that Plug Power Inc. will post -1.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PLUG shares. Royal Bank of Canada decreased 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 research report on Monday, August 12th. Wells Fargo & Company decreased their target price on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Truist Financial cut their price target on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Susquehanna cut their price target on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Finally, Craig Hallum cut 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 note on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.01.

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.