Arete Wealth Advisors LLC Has $332,000 Holdings in Plug Power Inc. (NASDAQ:PLUG)

Arete Wealth Advisors LLC increased its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 575.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 147,117 shares of the electronics maker’s stock after acquiring an additional 125,347 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Plug Power were worth $332,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nations Financial Group Inc. IA ADV acquired a new stake in shares of Plug Power during the second quarter valued at approximately $26,000. Aire Advisors LLC purchased a new position in Plug Power during the second quarter valued at approximately $28,000. Madison Park Capital Advisors LLC purchased a new position in Plug Power during the second quarter valued at approximately $29,000. Profund Advisors LLC purchased a new position in Plug Power during the second quarter valued at approximately $29,000. Finally, Prio Wealth Limited Partnership purchased a new position in Plug Power during the third quarter valued at approximately $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PLUG shares. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research report on Wednesday, November 13th. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Craig Hallum lowered their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Plug Power in a research report on Wednesday, November 13th. Finally, Jefferies Financial Group decreased their target price on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $4.52.

Plug Power Price Performance

Shares of Plug Power stock opened at $2.43 on Friday. The firm has a fifty day simple moving average of $2.15 and a 200-day simple moving average of $2.30. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 1-year low of $1.60 and a 1-year high of $5.14. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of -1.14 and a beta of 1.76.

Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. Plug Power’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.47) earnings per share. On average, sell-side analysts expect that Plug Power Inc. will post -1.2 earnings per share for the current year.

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.