Sovran Advisors LLC Boosts Holdings in Plug Power, Inc. $PLUG

Sovran Advisors LLC increased its stake in shares of Plug Power, Inc. (NASDAQ:PLUG) by 61.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 114,998 shares of the electronics maker’s stock after buying an additional 43,871 shares during the period. Sovran Advisors LLC’s holdings in Plug Power were worth $163,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PLUG. Nuveen Asset Management LLC increased its holdings in Plug Power by 0.8% during the fourth quarter. Nuveen Asset Management LLC now owns 2,771,821 shares of the electronics maker’s stock worth $5,904,000 after buying an additional 23,194 shares during the last quarter. ProShare Advisors LLC increased its stake in shares of Plug Power by 58.0% in the fourth quarter. ProShare Advisors LLC now owns 282,026 shares of the electronics maker’s stock worth $601,000 after purchasing an additional 103,543 shares in the last quarter. Toronto Dominion Bank purchased a new position in shares of Plug Power in the fourth quarter worth about $270,000. Tidal Investments LLC increased its stake in shares of Plug Power by 4.9% in the fourth quarter. Tidal Investments LLC now owns 508,889 shares of the electronics maker’s stock worth $1,084,000 after purchasing an additional 23,719 shares in the last quarter. Finally, Two Sigma Investments LP increased its stake in shares of Plug Power by 387.7% in the fourth quarter. Two Sigma Investments LP now owns 969,327 shares of the electronics maker’s stock worth $2,065,000 after purchasing an additional 770,564 shares in the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $2.18 on Friday. The firm’s 50 day moving average price is $1.62 and its 200-day moving average price is $1.32. The stock has a market capitalization of $2.52 billion, a PE ratio of -0.94 and a beta of 2.09. Plug Power, Inc. has a twelve month low of $0.69 and a twelve month high of $3.32. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Monday, August 11th. The electronics maker reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). The firm had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Equities research analysts expect that Plug Power, Inc. will post -1.21 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PLUG. Jefferies Financial Group lifted their target price on shares of Plug Power from $0.90 to $1.60 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. BMO Capital Markets reduced their target price on shares of Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a research note on Tuesday, August 12th. Wells Fargo & Company lifted their target price on shares of Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Evercore ISI upgraded shares of Plug Power to a “strong sell” rating in a research report on Tuesday, July 15th. Finally, Susquehanna lifted their target price on shares of Plug Power from $1.00 to $1.80 and gave the company a “neutral” rating in a research report on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $1.88.

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.