FAS Wealth Partners Inc. Buys New Position in Plug Power Inc. (NASDAQ:PLUG)

FAS Wealth Partners Inc. acquired a new position in Plug Power Inc. (NASDAQ:PLUGFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,000 shares of the electronics maker’s stock, valued at approximately $45,000.

Other institutional investors have also added to or reduced their stakes in the company. ICA Group Wealth Management LLC bought a new position in Plug Power in the fourth quarter worth $35,000. Strategic Investment Solutions Inc. IL bought a new position in Plug Power in the first quarter worth $41,000. Millburn Ridgefield Corp bought a new position in Plug Power in the third quarter worth $29,000. Exchange Traded Concepts LLC raised its holdings in Plug Power by 30.3% in the third quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock worth $49,000 after purchasing an additional 1,510 shares in the last quarter. Finally, Ossiam raised its holdings in Plug Power by 32.5% in the first quarter. Ossiam now owns 6,712 shares of the electronics maker’s stock worth $79,000 after purchasing an additional 1,646 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $3.14 on Wednesday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86. The stock’s 50-day simple moving average is $3.72 and its two-hundred day simple moving average is $4.68. Plug Power Inc. has a 52-week low of $2.26 and a 52-week high of $13.44.

Plug Power (NASDAQ:PLUGGet Free Report) last posted its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The company had revenue of $222.20 million for the quarter, compared to analysts’ expectations of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.38) earnings per share. As a group, equities analysts forecast that Plug Power Inc. will post -0.94 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on PLUG shares. Roth Capital upgraded Plug Power from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. B. Riley cut their target price on Plug Power from $18.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, January 24th. Susquehanna cut their target price on Plug Power from $4.50 to $3.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. Evercore ISI cut their target price on Plug Power from $9.00 to $6.00 and set an “outperform” rating on the stock in a research note on Monday, March 4th. Finally, Truist Financial increased their target price on Plug Power from $3.00 to $4.00 and gave the stock a “hold” rating in a research note on Wednesday, February 28th. Three research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.20.

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Plug Power Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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