Vigilant Capital Management LLC Invests $70,000 in Plug Power Inc (NASDAQ:PLUG)

Vigilant Capital Management LLC acquired a new position in Plug Power Inc (NASDAQ:PLUG) in the 3rd quarter, Holdings Channel.com reports. The firm acquired 5,250 shares of the electronics maker’s stock, valued at approximately $70,000.

Several other large investors also recently bought and sold shares of PLUG. First Trust Advisors LP increased its stake in shares of Plug Power by 3.8% in the 1st quarter. First Trust Advisors LP now owns 227,250 shares of the electronics maker’s stock worth $545,000 after purchasing an additional 8,331 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Plug Power by 7.2% in the 1st quarter. JPMorgan Chase & Co. now owns 159,987 shares of the electronics maker’s stock worth $567,000 after purchasing an additional 10,676 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Plug Power by 7.6% in the 1st quarter. Victory Capital Management Inc. now owns 49,024 shares of the electronics maker’s stock worth $174,000 after purchasing an additional 3,474 shares in the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Plug Power in the 1st quarter worth $102,000. Finally, Parametric Portfolio Associates LLC increased its stake in shares of Plug Power by 63.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 647,050 shares of the electronics maker’s stock worth $2,291,000 after purchasing an additional 251,404 shares in the last quarter. Hedge funds and other institutional investors own 44.56% of the company’s stock.

PLUG opened at $16.27 on Friday. The firm has a 50-day simple moving average of $13.73 and a two-hundred day simple moving average of $8.34. Plug Power Inc has a 52 week low of $2.53 and a 52 week high of $19.02. The company has a market capitalization of $6.54 billion, a PE ratio of -52.48 and a beta of 1.31. The company has a quick ratio of 1.34, a current ratio of 1.89 and a debt-to-equity ratio of 2.27.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Thursday, August 6th. The electronics maker reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.07. Plug Power had a negative net margin of 33.33% and a negative return on equity of 70.36%. The business had revenue of $68.07 million during the quarter, compared to the consensus estimate of $56.51 million. During the same quarter in the prior year, the firm earned ($0.08) EPS. The business’s revenue was up 18.3% on a year-over-year basis. As a group, sell-side analysts expect that Plug Power Inc will post -0.29 earnings per share for the current year.

In related news, VP Gerard L. Conway, Jr. sold 66,667 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $12.96, for a total value of $864,004.32. Following the completion of the transaction, the vice president now owns 77,186 shares of the company’s stock, valued at approximately $1,000,330.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Martin Daniel Hull sold 33,333 shares of the stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $13.11, for a total transaction of $436,995.63. Following the completion of the transaction, the chief accounting officer now directly owns 25,503 shares of the company’s stock, valued at approximately $334,344.33. The disclosure for this sale can be found here. Insiders have sold a total of 1,951,680 shares of company stock valued at $30,324,649 in the last three months. Insiders own 4.50% of the company’s stock.

Several research firms have recently commented on PLUG. ValuEngine upgraded Plug Power from a “hold” rating to a “buy” rating in a research note on Monday, August 3rd. Canaccord Genuity upped their target price on shares of Plug Power from $7.00 to $8.50 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Barclays upped their target price on shares of Plug Power from $12.00 to $13.00 and gave the stock an “equal weight” rating in a report on Friday, September 25th. Morgan Stanley raised shares of Plug Power from an “equal weight” rating to an “overweight” rating and set a $14.00 target price for the company in a report on Monday, September 28th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $14.00 target price on shares of Plug Power in a report on Thursday, July 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. Plug Power presently has an average rating of “Buy” and an average target price of $9.88.

Plug Power Company Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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

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