Cerity Partners LLC Invests $755,000 in Plug Power Inc. (NASDAQ:PLUG)

Cerity Partners LLC acquired a new stake in Plug Power Inc. (NASDAQ:PLUG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 167,711 shares of the electronics maker’s stock, valued at approximately $755,000.

Other hedge funds have also recently bought and sold shares of the company. Millburn Ridgefield Corp acquired a new stake in Plug Power during the 3rd quarter worth approximately $29,000. FAS Wealth Partners Inc. purchased a new position in Plug Power in the fourth quarter valued at $45,000. Exchange Traded Concepts LLC grew its stake in Plug Power by 30.3% during the 3rd 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. First Affirmative Financial Network purchased a new stake in Plug Power during the 4th quarter worth about $50,000. Finally, Griffin Asset Management Inc. acquired a new stake in Plug Power in the 4th quarter valued at about $54,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of PLUG opened at $2.59 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The stock’s 50 day moving average is $3.35 and its two-hundred day moving average is $4.21. Plug Power Inc. has a twelve month low of $2.26 and a twelve month high of $13.44. The firm has a market capitalization of $1.77 billion, a PE ratio of -1.13 and a beta of 1.54.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.52). The business had revenue of $222.20 million during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.38) earnings per share. Research analysts anticipate that Plug Power Inc. will post -0.94 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group downgraded Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price objective for the company. in a research report on Tuesday, February 6th. Canaccord Genuity Group decreased their price objective on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, March 4th. Marathon Capitl reiterated an “equal weight” rating on shares of Plug Power in a research note on Tuesday, March 26th. Seaport Res Ptn cut Plug Power from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Finally, B. Riley decreased their price target on Plug Power from $18.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $6.05.

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.