First Trust Direct Indexing L.P. Buys New Shares in Plug Power Inc. (NASDAQ:PLUG)

First Trust Direct Indexing L.P. bought a new stake in shares of Plug Power Inc. (NASDAQ:PLUGFree Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,794 shares of the electronics maker’s stock, valued at approximately $75,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PLUG. Advisors Asset Management Inc. lifted its stake in Plug Power by 6.3% during the third quarter. Advisors Asset Management Inc. now owns 58,648 shares of the electronics maker’s stock valued at $446,000 after purchasing an additional 3,450 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Plug Power by 17.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 36,135 shares of the electronics maker’s stock valued at $275,000 after acquiring an additional 5,454 shares during the period. WNY Asset Management LLC raised its holdings in shares of Plug Power by 29.6% during the third quarter. WNY Asset Management LLC now owns 69,873 shares of the electronics maker’s stock valued at $531,000 after acquiring an additional 15,977 shares during the period. InTrack Investment Management Inc raised its holdings in shares of Plug Power by 159.7% during the fourth quarter. InTrack Investment Management Inc now owns 34,701 shares of the electronics maker’s stock valued at $156,000 after acquiring an additional 21,341 shares during the period. Finally, First Affirmative Financial Network acquired a new stake in shares of Plug Power during the fourth quarter valued at approximately $50,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Plug Power Stock Up 4.7 %

Plug Power stock opened at $2.69 on Thursday. Plug Power Inc. has a 1-year low of $2.21 and a 1-year high of $13.44. The firm’s fifty day simple moving average is $2.84 and its 200-day simple moving average is $3.30. The company has a current ratio of 1.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $2.00 billion, a P/E ratio of -1.12 and a beta of 1.81.

Plug Power (NASDAQ:PLUGGet Free Report) last posted its earnings results on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The firm had revenue of $120.26 million during the quarter, compared to analyst estimates of $162.92 million. Sell-side analysts forecast that Plug Power Inc. will post -1.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PLUG shares. B. Riley upgraded shares of Plug Power to a “strong-buy” rating in a report on Tuesday, June 25th. 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. Morgan Stanley cut their price target on shares of Plug Power from $3.00 to $2.50 and set an “underweight” rating on the stock in a report on Friday, May 10th. TD Cowen cut their price target on shares of Plug Power from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, May 10th. Finally, HC Wainwright reiterated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Tuesday, May 14th. 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $5.49.

Get Our Latest Research Report on PLUG

Insider Activity at Plug Power

In related news, Director George C. Mcnamee sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 639,572 shares in the company, valued at approximately $1,637,304.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.70% of the stock is currently owned by company insiders.

Plug Power Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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