Empowered Funds LLC Takes Position in Plug Power Inc. (NASDAQ:PLUG)

Empowered Funds LLC purchased a new position in shares of Plug Power Inc. (NASDAQ:PLUG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,497 shares of the electronics maker’s stock, valued at approximately $214,000.

Several other institutional investors have also bought and sold shares of PLUG. Pacific Sage Partners LLC bought a new stake in Plug Power during the fourth quarter worth $25,000. Catalyst Capital Advisors LLC grew its holdings in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares in the last quarter. First Commonwealth Financial Corp PA bought a new stake in Plug Power during the third quarter worth $29,000. Millburn Ridgefield Corp grew its holdings in Plug Power by 79.9% during the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares in the last quarter. Finally, Abel Hall LLC bought a new stake in Plug Power during the fourth quarter worth $31,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

NASDAQ:PLUG opened at $1.66 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power Inc. has a 52-week low of $1.57 and a 52-week high of $4.90. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of -0.78 and a beta of 1.79. The business’s fifty day moving average is $2.20 and its 200 day moving average is $2.13.

Analysts Set New Price Targets

PLUG has been the subject of several recent research reports. Susquehanna upped their price target on Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a report on Thursday, January 16th. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research report on Wednesday, November 13th. StockNews.com raised Plug Power to a “sell” rating in a research report on Monday, February 10th. Seaport Res Ptn cut Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, Evercore ISI cut their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Plug Power currently has a consensus rating of “Hold” and an average price target of $4.12.

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.