Marshall Wace LLP Acquires 10,882 Shares of Plug Power Inc. (NASDAQ:PLUG)

Marshall Wace LLP grew its holdings in shares of Plug Power Inc. (NASDAQ:PLUG) by 80.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 24,492 shares of the electronics maker’s stock after buying an additional 10,882 shares during the period. Marshall Wace LLP’s holdings in Plug Power were worth $57,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. SteelPeak Wealth LLC purchased a new position in Plug Power in the 2nd quarter worth about $26,000. Nations Financial Group Inc. IA ADV purchased a new stake in shares of Plug Power during the 2nd quarter valued at about $26,000. Aire Advisors LLC purchased a new stake in shares of Plug Power during the 2nd quarter valued at about $28,000. Madison Park Capital Advisors LLC bought a new position in shares of Plug Power during the 2nd quarter valued at approximately $29,000. Finally, Profund Advisors LLC purchased a new position in shares of Plug Power in the second quarter valued at about $29,000. Institutional investors own 43.48% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PLUG shares. Canaccord Genuity Group decreased their price target on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Royal Bank of Canada dropped their price target on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Jefferies Financial Group cut their price target on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Piper Sandler reduced their target price on Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Finally, B. Riley raised shares of Plug Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $5.01.

Plug Power Price Performance

Plug Power stock opened at $2.12 on Monday. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $1.57 billion, a P/E ratio of -0.88 and a beta of 1.79. The business has a 50-day moving average of $2.03 and a 200-day moving average of $2.53. Plug Power Inc. has a 1 year low of $1.60 and a 1 year high of $7.90.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The business had revenue of $143.40 million for the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The firm’s revenue was down 44.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.35) earnings per share. On average, equities analysts anticipate that Plug Power Inc. will post -1.15 EPS 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.