Ethic Inc. Invests $55,000 in Plug Power, Inc. $PLUG

Ethic Inc. bought a new position in shares of Plug Power, Inc. (NASDAQ:PLUG) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 37,049 shares of the electronics maker’s stock, valued at approximately $55,000.

A number of other hedge funds have also recently bought and sold shares of PLUG. QRG Capital Management Inc. grew its position in Plug Power by 31.8% in the 2nd quarter. QRG Capital Management Inc. now owns 25,014 shares of the electronics maker’s stock worth $37,000 after purchasing an additional 6,039 shares during the last quarter. Mandatum Life Insurance Co Ltd lifted its stake in shares of Plug Power by 17.6% in the second quarter. Mandatum Life Insurance Co Ltd now owns 48,887 shares of the electronics maker’s stock valued at $73,000 after buying an additional 7,300 shares during the period. Avidian Wealth Enterprises LLC grew its position in Plug Power by 45.4% during the second quarter. Avidian Wealth Enterprises LLC now owns 24,020 shares of the electronics maker’s stock worth $36,000 after buying an additional 7,500 shares in the last quarter. IFP Advisors Inc increased its stake in Plug Power by 62.8% during the second quarter. IFP Advisors Inc now owns 30,083 shares of the electronics maker’s stock valued at $45,000 after acquiring an additional 11,604 shares during the period. Finally, Lazari Capital Management Inc. increased its stake in Plug Power by 49.2% during the second quarter. Lazari Capital Management Inc. now owns 36,798 shares of the electronics maker’s stock valued at $55,000 after acquiring an additional 12,141 shares during the period. 43.48% of the stock is owned by institutional investors.

Plug Power Price Performance

PLUG opened at $2.69 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82. The stock has a market capitalization of $3.11 billion, a P/E ratio of -1.16 and a beta of 2.23. The company’s 50 day simple moving average is $2.51 and its 200-day simple moving average is $1.67. Plug Power, Inc. has a one year low of $0.69 and a one year high of $4.58.

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

Wall Street Analysts Forecast Growth

PLUG has been the subject of a number of research reports. HC Wainwright raised their price objective on Plug Power from $3.00 to $7.00 and gave the stock a “buy” rating in a research report on Friday, October 3rd. Hsbc Global Res raised Plug Power to a “strong-buy” rating in a research report on Thursday, October 9th. Evercore ISI raised shares of Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Morgan Stanley restated an “underweight” rating and issued a $1.50 price objective on shares of Plug Power in a research note on Thursday, October 16th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.54.

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.