IFP Advisors Inc Buys 11,604 Shares of Plug Power, Inc. $PLUG

IFP Advisors Inc raised its holdings in shares of Plug Power, Inc. (NASDAQ:PLUG) by 62.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,083 shares of the electronics maker’s stock after purchasing an additional 11,604 shares during the quarter. IFP Advisors Inc’s holdings in Plug Power were worth $45,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PLUG. Heights Capital Management Inc. purchased a new position in shares of Plug Power during the first quarter valued at $31,174,000. Vanguard Group Inc. grew its stake in Plug Power by 4.5% in the first quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker’s stock valued at $123,348,000 after purchasing an additional 3,930,342 shares during the last quarter. Invesco Ltd. grew its stake in Plug Power by 32.2% in the first quarter. Invesco Ltd. now owns 5,236,446 shares of the electronics maker’s stock valued at $7,069,000 after purchasing an additional 1,275,083 shares during the last quarter. Virtu Financial LLC grew its stake in Plug Power by 979.4% in the first quarter. Virtu Financial LLC now owns 869,883 shares of the electronics maker’s stock valued at $1,174,000 after purchasing an additional 789,297 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in Plug Power by 23.0% in the first quarter. Vontobel Holding Ltd. now owns 3,465,804 shares of the electronics maker’s stock valued at $4,679,000 after purchasing an additional 648,058 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PLUG shares. HSBC set a $4.40 price target on Plug Power in a research note on Thursday, October 9th. Hsbc Global Res raised Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Plug Power in a report on Wednesday, October 8th. BMO Capital Markets decreased their target price on Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a report on Tuesday, August 12th. Finally, Evercore ISI upgraded Plug Power to a “strong sell” rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $2.54.

Plug Power Stock Down 8.2%

NASDAQ PLUG opened at $3.12 on Wednesday. Plug Power, Inc. has a one year low of $0.69 and a one year high of $4.58. The company has a market cap of $3.60 billion, a P/E ratio of -1.35 and a beta of 2.23. The business has a fifty day moving average price of $2.32 and a 200 day moving average price of $1.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59.

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

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.