11,098 Shares in Plug Power Inc. (NASDAQ:PLUG) Purchased by Nations Financial Group Inc. IA ADV

Nations Financial Group Inc. IA ADV acquired a new stake in Plug Power Inc. (NASDAQ:PLUG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 11,098 shares of the electronics maker’s stock, valued at approximately $26,000.

A number of other large investors also recently bought and sold shares of the stock. SteelPeak Wealth LLC purchased a new stake in shares of Plug Power in the 2nd quarter valued at approximately $26,000. Madison Park Capital Advisors LLC acquired a new position in Plug Power during the second quarter worth $29,000. Mosley Wealth Management purchased a new position in shares of Plug Power during the first quarter worth $35,000. Diversified Trust Co acquired a new stake in shares of Plug Power in the second quarter valued at $35,000. Finally, J.W. Cole Advisors Inc. purchased a new stake in shares of Plug Power in the 1st quarter valued at $36,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analysts Set New Price Targets

PLUG has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Plug Power from $3.00 to $2.50 and set an “underweight” rating for the company in a report on Friday, May 10th. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a report on Tuesday, May 14th. TD Cowen reduced their target price 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. B. Riley raised shares of Plug Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Finally, Truist Financial cut their price objective on Plug Power from $3.00 to $2.00 and set a “hold” 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 issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.19.

Plug Power Stock Down 3.1 %

PLUG opened at $1.88 on Friday. Plug Power Inc. has a one year low of $1.86 and a one year high of $8.93. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.07. The stock has a market capitalization of $1.40 billion, a P/E ratio of -0.78 and a beta of 1.81. The business’s 50-day simple moving average is $2.38 and its 200-day simple moving average is $2.88.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings results on Thursday, August 8th. The electronics maker reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The firm 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 company’s quarterly revenue was down 44.9% on a year-over-year basis. During the same period last year, the firm earned ($0.35) EPS. 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.