Plug Power Inc. (NASDAQ:PLUG) Stake Lifted by Everett Harris & Co. CA

Everett Harris & Co. CA lifted its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 50.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 26,469 shares of the electronics maker’s stock after acquiring an additional 8,840 shares during the period. Everett Harris & Co. CA’s holdings in Plug Power were worth $119,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Millburn Ridgefield Corp purchased a new position in shares of Plug Power during the third quarter valued at $29,000. ICA Group Wealth Management LLC acquired a new stake in Plug Power during the fourth quarter worth $35,000. Strategic Investment Solutions Inc. IL acquired a new position in Plug Power in the first quarter worth about $41,000. Exchange Traded Concepts LLC raised its stake in Plug Power by 30.3% during the third quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock worth $49,000 after acquiring an additional 1,510 shares in the last quarter. Finally, First Affirmative Financial Network bought a new position in shares of Plug Power in the fourth quarter valued at approximately $50,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PLUG shares. Evercore ISI reduced their price objective on Plug Power from $9.00 to $6.00 and set an “outperform” rating on the stock in a report on Monday, March 4th. Seaport Res Ptn lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 6th. Susquehanna reduced their price target on Plug Power from $4.50 to $3.50 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Roth Mkm raised shares of Plug Power from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $4.50 to $9.00 in a report on Wednesday, January 31st. Finally, Craig Hallum reduced their price target on Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, March 4th. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and an average price target of $6.20.

Plug Power Trading Up 0.3 %

PLUG traded up $0.01 on Thursday, hitting $3.44. 22,213,232 shares of the company were exchanged, compared to its average volume of 44,985,031. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. The firm has a fifty day simple moving average of $3.68 and a two-hundred day simple moving average of $4.84. The stock has a market capitalization of $2.35 billion, a PE ratio of -1.50 and a beta of 1.56. Plug Power Inc. has a 12 month low of $2.26 and a 12 month high of $13.44.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.52). The firm 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 company’s quarterly revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) EPS. Sell-side analysts expect that Plug Power Inc. will post -0.97 earnings per share for the current year.

Plug Power Company 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.