PFG Investments LLC Has $905,000 Holdings in Plug Power Inc. (NASDAQ:PLUG)

PFG Investments LLC raised its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 14.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 400,585 shares of the electronics maker’s stock after buying an additional 49,059 shares during the period. PFG Investments LLC owned about 0.05% of Plug Power worth $905,000 as of its most recent filing with the Securities and Exchange Commission.

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

Plug Power Stock Performance

Shares of Plug Power stock opened at $2.15 on Monday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -0.91 and a beta of 1.79. Plug Power Inc. has a one year low of $1.60 and a one year high of $6.95. The stock’s 50-day moving average is $2.04 and its 200-day moving average is $2.46.

Plug Power (NASDAQ:PLUG) last released its quarterly 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). Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The firm had revenue of $143.40 million for the quarter, compared to analyst estimates of $184.54 million. During the same period last year, the company earned ($0.35) EPS. The company’s revenue was down 44.9% compared to the same quarter last year. Equities analysts predict that Plug Power Inc. will post -1.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PLUG. Truist Financial reduced their target price on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Piper Sandler decreased their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a research report on Monday, July 22nd. Jefferies Financial Group dropped their target price on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Craig Hallum cut their price target on Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Canaccord Genuity Group lowered their price objective on Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Monday, August 12th. Four 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 stock. Based on data from MarketBeat, Plug Power currently has a consensus rating of “Hold” and an average price target of $5.01.

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.