Sanctuary Advisors LLC Purchases New Shares in Plug Power Inc. (NASDAQ:PLUG)

Sanctuary Advisors LLC acquired a new stake in Plug Power Inc. (NASDAQ:PLUG) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 90,989 shares of the electronics maker’s stock, valued at approximately $206,000.

Other institutional investors also recently modified their holdings of the company. Aire Advisors LLC acquired a new stake in shares of Plug Power in the 2nd quarter valued at $28,000. Profund Advisors LLC bought a new position in Plug Power in the second quarter valued at approximately $29,000. Prio Wealth Limited Partnership acquired a new stake in Plug Power during the 3rd quarter worth $29,000. Catalyst Capital Advisors LLC raised its position in shares of Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares during the last quarter. Finally, Millburn Ridgefield Corp lifted its stake in shares of Plug Power by 79.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the period. 43.48% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PLUG has been the topic of a number of recent analyst reports. HC Wainwright restated a “buy” rating and set a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. Evercore ISI dropped their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Piper Sandler dropped their target price on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Canaccord Genuity Group reduced their target price on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Finally, BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.52.

Plug Power Stock Performance

Shares of PLUG stock opened at $2.38 on Monday. Plug Power Inc. has a 52-week low of $1.60 and a 52-week high of $5.14. The company has a 50-day simple moving average of $2.21 and a two-hundred day simple moving average of $2.24. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of -1.11 and a beta of 1.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The firm had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same period in the prior year, the company earned ($0.47) EPS. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. Research analysts anticipate that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

About Plug Power

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.