Plug Power Inc. (NASDAQ:PLUG) Position Boosted by Cerity Partners LLC

Cerity Partners LLC lifted its holdings in Plug Power Inc. (NASDAQ:PLUG) by 100.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 433,869 shares of the electronics maker’s stock after purchasing an additional 217,858 shares during the period. Cerity Partners LLC’s holdings in Plug Power were worth $981,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLUG. 49 Wealth Management LLC increased its holdings in shares of Plug Power by 40.6% in the third quarter. 49 Wealth Management LLC now owns 23,346 shares of the electronics maker’s stock valued at $53,000 after buying an additional 6,745 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Plug Power by 25.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after acquiring an additional 1,354,500 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Plug Power during the third quarter worth $277,000. Advisors Asset Management Inc. lifted its holdings in shares of Plug Power by 145.5% during the third quarter. Advisors Asset Management Inc. now owns 183,119 shares of the electronics maker’s stock valued at $414,000 after purchasing an additional 108,536 shares during the last quarter. Finally, Banque Cantonale Vaudoise boosted its position in shares of Plug Power by 17.4% in the 3rd quarter. Banque Cantonale Vaudoise now owns 195,850 shares of the electronics maker’s stock valued at $443,000 after purchasing an additional 29,051 shares during the period. 43.48% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PLUG shares. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Evercore ISI decreased their price objective 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. Canaccord Genuity Group lowered their price objective 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. Truist Financial decreased their target price on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Susquehanna reduced their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $4.52.

Plug Power Trading Up 5.4 %

Shares of NASDAQ:PLUG opened at $2.13 on Thursday. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.94 billion, a PE ratio of -1.00 and a beta of 1.76. Plug Power Inc. has a 1 year low of $1.60 and a 1 year high of $5.14. The firm has a fifty day moving average price of $2.10 and a 200 day moving average price of $2.33.

Plug Power (NASDAQ:PLUG) last released its quarterly 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). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. During the same quarter last year, the company posted ($0.47) EPS. The business’s revenue was down 12.6% compared to the same quarter last year. Analysts expect that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

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.