10,081 Shares in Plug Power Inc. (NASDAQ:PLUG) Purchased by M Holdings Securities Inc.

M Holdings Securities Inc. purchased a new position in Plug Power Inc. (NASDAQ:PLUGGet Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 10,081 shares of the electronics maker’s stock, valued at approximately $288,000.

Other hedge funds have also made changes to their positions in the company. IFM Investors Pty Ltd raised its holdings in shares of Plug Power by 18.4% during the first quarter. IFM Investors Pty Ltd now owns 76,132 shares of the electronics maker’s stock valued at $2,178,000 after acquiring an additional 11,814 shares during the last quarter. HighTower Advisors LLC raised its holdings in shares of Plug Power by 18.9% during the fourth quarter. HighTower Advisors LLC now owns 19,871 shares of the electronics maker’s stock valued at $555,000 after acquiring an additional 3,164 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Plug Power by 3.9% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 153,633 shares of the electronics maker’s stock valued at $4,395,000 after acquiring an additional 5,707 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Plug Power by 22.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 930,216 shares of the electronics maker’s stock valued at $26,270,000 after acquiring an additional 168,277 shares during the last quarter. Finally, PSI Advisors LLC raised its holdings in shares of Plug Power by 29.3% during the first quarter. PSI Advisors LLC now owns 5,125 shares of the electronics maker’s stock valued at $147,000 after acquiring an additional 1,160 shares during the last quarter. Institutional investors and hedge funds own 51.09% of the company’s stock.

Plug Power Stock Down 3.6 %

Shares of NASDAQ PLUG opened at $28.25 on Friday. The stock has a market cap of $16.35 billion, a P/E ratio of -25.92 and a beta of 1.66. The company has a current ratio of 9.10, a quick ratio of 8.10 and a debt-to-equity ratio of 0.12. Plug Power Inc. has a 12-month low of $12.70 and a 12-month high of $46.50. The business’s fifty day simple moving average is $24.54 and its 200-day simple moving average is $22.36.

Plug Power (NASDAQ:PLUGGet Rating) last announced its quarterly earnings data on Tuesday, August 9th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.10). The company had revenue of $151.30 million during the quarter, compared to analyst estimates of $162.31 million. Plug Power had a negative net margin of 105.26% and a negative return on equity of 13.73%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.18) earnings per share. As a group, equities analysts predict that Plug Power Inc. will post -0.96 EPS for the current fiscal year.

Analyst Ratings Changes

PLUG has been the subject of a number of research analyst reports. Cowen reduced their target price on Plug Power to $35.00 in a report on Monday, August 15th. Susquehanna upped their price target on Plug Power from $30.00 to $35.00 and gave the company a “positive” rating in a research report on Wednesday, August 10th. Wells Fargo & Company upped their price target on Plug Power from $19.00 to $29.00 and gave the company an “equal weight” rating in a research report on Friday, August 12th. Morgan Stanley upped their price target on Plug Power from $42.00 to $53.00 and gave the company an “overweight” rating in a research report on Thursday, August 18th. Finally, BMO Capital Markets upped their price target on Plug Power from $20.00 to $29.00 in a research report on Wednesday, August 10th. Eight research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.39.

Plug Power Company Profile

(Get Rating)

Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.

Further Reading

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

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