Creative Planning Increases Position in Plug Power Inc. (NASDAQ:PLUG)

Creative Planning boosted its position in Plug Power Inc. (NASDAQ:PLUG) by 35.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 115,614 shares of the electronics maker’s stock after acquiring an additional 30,552 shares during the period. Creative Planning’s holdings in Plug Power were worth $261,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SteelPeak Wealth LLC purchased a new stake in shares of Plug Power in the second quarter valued at $26,000. Nations Financial Group Inc. IA ADV acquired a new stake in Plug Power in the 2nd quarter worth about $26,000. Aire Advisors LLC purchased a new stake in Plug Power in the 2nd quarter valued at about $28,000. Madison Park Capital Advisors LLC acquired a new position in shares of Plug Power during the 2nd quarter valued at about $29,000. Finally, Profund Advisors LLC purchased a new position in shares of Plug Power during the 2nd quarter worth about $29,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Up 1.0 %

PLUG stock opened at $2.06 on Friday. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. The firm has a 50 day simple moving average of $2.05 and a 200-day simple moving average of $2.42. The company has a market capitalization of $1.81 billion, a P/E ratio of -0.87 and a beta of 1.81. Plug Power Inc. has a twelve month low of $1.60 and a twelve month high of $6.33.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The company had revenue of $143.40 million during 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%. The business’s revenue for the quarter was down 44.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) EPS. On average, equities research analysts predict that Plug Power Inc. will post -1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on PLUG. Wells Fargo & Company dropped 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 report on Friday, August 9th. Susquehanna cut their target price on Plug Power from $3.00 to $2.00 and set a “neutral” rating on the stock in a research report on Monday, August 12th. Canaccord Genuity Group lowered their price target 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. Piper Sandler cut their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Finally, Jefferies Financial Group decreased their target price on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.01.

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.