IPG Investment Advisors LLC Makes New Investment in Plug Power Inc. (NASDAQ:PLUG)

IPG Investment Advisors LLC bought a new stake in Plug Power Inc. (NASDAQ:PLUGFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 22,460 shares of the electronics maker’s stock, valued at approximately $101,000.

Several other large investors have also modified their holdings of the stock. FAS Wealth Partners Inc. acquired a new position in Plug Power in the fourth quarter worth $45,000. Independent Advisor Alliance acquired a new stake in Plug Power during the fourth quarter worth about $45,000. Signaturefd LLC grew its holdings in shares of Plug Power by 114.3% during the third quarter. Signaturefd LLC now owns 10,256 shares of the electronics maker’s stock valued at $78,000 after purchasing an additional 5,471 shares during the last quarter. First Affirmative Financial Network bought a new position in Plug Power during the 4th quarter worth $50,000. Finally, Kestra Private Wealth Services LLC bought a new position in Plug Power during the 3rd quarter worth $90,000. Institutional investors own 43.48% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on PLUG shares. Roth Mkm raised shares of Plug Power from a “neutral” rating to a “buy” rating and boosted their price target for the company from $4.50 to $9.00 in a report on Wednesday, January 31st. HC Wainwright restated a “buy” rating and issued a $18.00 target price on shares of Plug Power in a research report on Tuesday, May 14th. Truist Financial lifted their price target on Plug Power from $3.00 to $4.00 and gave the company a “hold” rating in a report on Wednesday, February 28th. Canaccord Genuity Group decreased their price objective on Plug Power from $4.00 to $3.00 and set a “hold” rating for the company in a report on Monday, May 13th. Finally, Piper Sandler cut their target price on Plug Power from $2.90 to $2.50 and set an “underweight” rating on the stock in a research note on Friday, May 10th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Plug Power has a consensus rating of “Hold” and an average price target of $5.49.

Check Out Our Latest Stock Report on Plug Power

Plug Power Trading Up 1.5 %

PLUG traded up $0.05 during trading on Tuesday, reaching $3.30. The company had a trading volume of 18,280,492 shares, compared to its average volume of 41,141,219. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 1.94. Plug Power Inc. has a 12-month low of $2.25 and a 12-month high of $13.44. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -1.40 and a beta of 1.64. The firm’s 50-day simple moving average is $2.98 and its 200 day simple moving average is $3.59.

Plug Power (NASDAQ:PLUGGet Free Report) last released its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The firm had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. During the same quarter in the prior year, the firm earned ($0.38) EPS. The firm’s revenue was up .7% compared to the same quarter last year. Equities research analysts anticipate that Plug Power Inc. will post -1.12 earnings per share for the current year.

Insider Transactions at Plug Power

In related news, Director George C. Mcnamee sold 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $2.56, for a total transaction of $25,600.00. Following the transaction, the director now directly owns 639,572 shares of the company’s stock, valued at $1,637,304.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Plug Power Company Profile

(Free Report)

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.

See Also

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

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