AdvisorNet Financial Inc Buys 855 Shares of Plug Power Inc. (NASDAQ:PLUG)

AdvisorNet Financial Inc grew its stake in shares of Plug Power Inc. (NASDAQ:PLUGGet Rating) by 34.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,355 shares of the electronics maker’s stock after purchasing an additional 855 shares during the quarter. AdvisorNet Financial Inc’s holdings in Plug Power were worth $56,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PLUG. HighTower Advisors LLC boosted its stake in Plug Power by 18.9% during the fourth quarter. HighTower Advisors LLC now owns 19,871 shares of the electronics maker’s stock worth $555,000 after buying an additional 3,164 shares during the period. abrdn plc boosted its stake in shares of Plug Power by 2.0% during the fourth quarter. abrdn plc now owns 63,109 shares of the electronics maker’s stock valued at $1,781,000 after purchasing an additional 1,263 shares during the period. Ensign Peak Advisors Inc purchased a new stake in shares of Plug Power during the fourth quarter valued at $4,669,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Plug Power by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,786,649 shares of the electronics maker’s stock valued at $78,667,000 after acquiring an additional 34,429 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Plug Power in the fourth quarter valued at about $22,848,000. 51.09% of the stock is owned by hedge funds and other institutional investors.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $23.94 on Friday. The business’s 50 day moving average price is $25.16 and its 200 day moving average price is $22.44. The firm has a market cap of $13.85 billion, a P/E ratio of -21.96 and a beta of 1.66. Plug Power Inc. has a 52 week low of $12.70 and a 52 week high of $46.50. The company has a quick ratio of 8.10, a current ratio of 9.10 and a debt-to-equity ratio of 0.12.

Plug Power (NASDAQ:PLUGGet Rating) last issued its earnings results on Tuesday, August 9th. The electronics maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.10). The firm had revenue of $151.30 million during the quarter, compared to analysts’ expectations of $162.31 million. Plug Power had a negative net margin of 105.26% and a negative return on equity of 13.73%. Plug Power’s quarterly revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) EPS. On average, sell-side analysts expect that Plug Power Inc. will post -0.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company lifted their price objective on Plug Power from $19.00 to $29.00 and gave the company an “equal weight” rating in a report on Friday, August 12th. Citigroup lifted their price objective on Plug Power from $20.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 11th. Cowen decreased their price objective on Plug Power to $35.00 in a report on Monday, August 15th. BTIG Research decreased their price objective on Plug Power to $35.00 in a report on Monday, August 15th. Finally, Piper Sandler boosted their target price on shares of Plug Power from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, July 19th. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $34.39.

About Plug Power

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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.

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

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