Ballentine Partners LLC Invests $79,000 in Plug Power Inc. (NASDAQ:PLUG)

Ballentine Partners LLC acquired a new stake in shares of Plug Power Inc. (NASDAQ:PLUG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,937 shares of the electronics maker’s stock, valued at approximately $79,000.

A number of other large investors have also recently made changes to their positions in the stock. Treasurer of the State of North Carolina grew its position in shares of Plug Power by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 233,192 shares of the electronics maker’s stock valued at $1,049,000 after acquiring an additional 2,280 shares during the period. Tower Research Capital LLC TRC grew its holdings in shares of Plug Power by 15.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 18,585 shares of the electronics maker’s stock valued at $84,000 after purchasing an additional 2,526 shares in the last quarter. Brookstone Capital Management lifted its position in Plug Power by 22.3% in the fourth quarter. Brookstone Capital Management now owns 17,973 shares of the electronics maker’s stock worth $81,000 after buying an additional 3,273 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Plug Power by 6.3% in the third quarter. Advisors Asset Management Inc. now owns 58,648 shares of the electronics maker’s stock worth $446,000 after purchasing an additional 3,450 shares during the period. Finally, Prime Capital Investment Advisors LLC boosted its stake in shares of Plug Power by 19.4% during the fourth quarter. Prime Capital Investment Advisors LLC now owns 21,888 shares of the electronics maker’s stock valued at $98,000 after purchasing an additional 3,556 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors.

Plug Power Price Performance

Plug Power stock opened at $2.46 on Friday. The company’s 50 day simple moving average is $2.83 and its 200-day simple moving average is $3.42. 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 1 year low of $2.25 and a 1 year high of $13.44. The company has a market capitalization of $1.83 billion, a price-to-earnings ratio of -1.02 and a beta of 1.77.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Thursday, May 9th. The electronics maker reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). Plug Power had a negative return on equity of 43.10% and a negative net margin of 181.96%. The firm had revenue of $120.26 million for the quarter, compared to analyst estimates of $162.92 million. As a group, equities research analysts expect that Plug Power Inc. will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Plug Power

In related news, Director George C. Mcnamee sold 10,000 shares of Plug Power stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $2.56, for a total value of $25,600.00. Following the completion of the transaction, the director now owns 639,572 shares in the company, valued at $1,637,304.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PLUG has been the topic of several analyst reports. Canaccord Genuity Group cut their price target on shares of Plug Power from $4.00 to $3.00 and set a “hold” rating on the stock in a report on Monday, May 13th. Marathon Capitl reaffirmed an “equal weight” rating on shares of Plug Power in a report on Tuesday, March 26th. TD Cowen lowered their target price on Plug Power from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Susquehanna reduced their price target on Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Finally, HSBC lowered their price target on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $5.49.

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.