Wealth Enhancement Advisory Services LLC Purchases 16,878 Shares of Plug Power, Inc. (NASDAQ:PLUG)

Wealth Enhancement Advisory Services LLC increased its position in Plug Power, Inc. (NASDAQ:PLUG) by 35.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,440 shares of the electronics maker’s stock after purchasing an additional 16,878 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Plug Power were worth $137,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PLUG. Pinnacle Wealth Planning Services Inc. purchased a new stake in Plug Power in the 4th quarter valued at $60,000. Toronto Dominion Bank purchased a new stake in Plug Power in the 4th quarter valued at $270,000. Retirement Planning Group LLC NY purchased a new stake in Plug Power in the 4th quarter valued at $38,000. GTS Securities LLC raised its position in Plug Power by 150.0% in the 4th quarter. GTS Securities LLC now owns 18,750 shares of the electronics maker’s stock valued at $40,000 after buying an additional 56,255 shares during the last quarter. Finally, 49 Wealth Management LLC increased its position in shares of Plug Power by 25.0% during the 4th quarter. 49 Wealth Management LLC now owns 29,180 shares of the electronics maker’s stock valued at $62,000 after purchasing an additional 5,834 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors.

Plug Power Price Performance

Shares of PLUG stock opened at $1.09 on Wednesday. The stock has a market cap of $1.25 billion, a price-to-earnings ratio of -0.44 and a beta of 2.17. The business’s fifty day moving average is $0.93 and its 200 day moving average is $1.61. Plug Power, Inc. has a twelve month low of $0.69 and a twelve month high of $3.34. The company has a quick ratio of 1.07, a current ratio of 1.95 and a debt-to-equity ratio of 0.27.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $133.67 million during the quarter, compared to analysts’ expectations of $130.92 million. Plug Power had a negative return on equity of 82.21% and a negative net margin of 312.29%. Research analysts expect that Plug Power, Inc. will post -1.21 EPS for the current fiscal year.

Insider Transactions at Plug Power

In related news, insider Paul B. Middleton bought 650,000 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were purchased at an average cost of $1.03 per share, with a total value of $669,500.00. Following the completion of the purchase, the insider now owns 2,558,064 shares in the company, valued at approximately $2,634,805.92. The trade was a 34.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. HC Wainwright reaffirmed a “buy” rating and set a $3.00 target price on shares of Plug Power in a research report on Monday, March 24th. Piper Sandler decreased their target price on Plug Power from $1.10 to $0.80 and set an “underweight” rating for the company in a research report on Wednesday, May 14th. Jefferies Financial Group decreased their target price on Plug Power from $1.70 to $0.90 and set a “hold” rating for the company in a research report on Tuesday, May 20th. BMO Capital Markets decreased their target price on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company decreased their target price on Plug Power from $2.00 to $1.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Plug Power has a consensus rating of “Hold” and an average price target of $1.83.

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.