Profund Advisors LLC Purchases Shares of 12,572 Plug Power Inc. (NASDAQ:PLUG)

Profund Advisors LLC purchased a new stake in Plug Power Inc. (NASDAQ:PLUG) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 12,572 shares of the electronics maker’s stock, valued at approximately $29,000.

Several other large investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted its position in Plug Power by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker’s stock worth $2,588,000 after buying an additional 187,205 shares in the last quarter. Meeder Advisory Services Inc. acquired a new stake in shares of Plug Power in the second quarter valued at about $34,000. American Century Companies Inc. boosted its position in Plug Power by 16.2% during the second quarter. American Century Companies Inc. now owns 572,938 shares of the electronics maker’s stock valued at $1,335,000 after purchasing an additional 79,802 shares during the last quarter. Choreo LLC bought a new position in Plug Power in the second quarter valued at approximately $65,000. Finally, PFG Investments LLC increased its position in shares of Plug Power by 48.7% during the 2nd quarter. PFG Investments LLC now owns 351,526 shares of the electronics maker’s stock worth $819,000 after purchasing an additional 115,135 shares during the last quarter. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Down 0.9 %

Shares of PLUG opened at $2.26 on Tuesday. The firm has a 50 day simple moving average of $2.08 and a two-hundred day simple moving average of $2.61. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. Plug Power Inc. has a one year low of $1.60 and a one year high of $7.90. The company has a market cap of $1.68 billion, a P/E ratio of -0.94 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The company had revenue of $143.40 million for the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. Plug Power’s revenue for the quarter was down 44.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.35) EPS. Research analysts forecast that Plug Power Inc. will post -1.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PLUG. Truist Financial cut their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a report on Monday, August 12th. Wells Fargo & Company cut their price target on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Susquehanna lowered their price objective on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research note on Monday, August 12th. Canaccord Genuity Group cut their target price on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, Royal Bank of Canada lowered their price target on Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.19.

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.