J. Derek Lewis & Associates Inc. Takes $535,000 Position in Plug Power, Inc. $PLUG

J. Derek Lewis & Associates Inc. bought a new position in Plug Power, Inc. (NASDAQ:PLUG) during the 4th quarter, Holdings Channel reports. The fund bought 271,555 shares of the electronics maker’s stock, valued at approximately $535,000.

Other hedge funds also recently made changes to their positions in the company. DUTCH ASSET Corp bought a new stake in Plug Power in the 4th quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd grew its holdings in shares of Plug Power by 572.7% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 154,920 shares of the electronics maker’s stock valued at $305,000 after purchasing an additional 131,892 shares in the last quarter. Invesco Ltd. increased its position in Plug Power by 40.2% in the fourth quarter. Invesco Ltd. now owns 10,291,428 shares of the electronics maker’s stock worth $20,274,000 after purchasing an additional 2,949,397 shares during the last quarter. Vident Advisory LLC purchased a new stake in Plug Power during the fourth quarter valued at $340,000. Finally, Mackenzie Financial Corp raised its stake in Plug Power by 18.6% during the fourth quarter. Mackenzie Financial Corp now owns 68,908 shares of the electronics maker’s stock valued at $133,000 after purchasing an additional 10,810 shares in the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Price Performance

Shares of PLUG opened at $2.85 on Friday. The company has a quick ratio of 1.40, a current ratio of 2.36 and a debt-to-equity ratio of 0.89. The business has a fifty day moving average of $3.28 and a 200 day moving average of $2.57. The company has a market cap of $3.98 billion, a PE ratio of -2.16 and a beta of 2.12. Plug Power, Inc. has a 52-week low of $1.03 and a 52-week high of $4.58.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. The business had revenue of $163.51 million for the quarter, compared to analysts’ expectations of $139.87 million. During the same quarter in the previous year, the business posted ($0.21) earnings per share. The business’s revenue was up 22.3% compared to the same quarter last year. On average, sell-side analysts expect that Plug Power, Inc. will post -0.24 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Susquehanna lifted their price objective on shares of Plug Power from $2.75 to $3.75 and gave the stock a “neutral” rating in a research note on Wednesday, May 13th. Jefferies Financial Group reduced their target price on shares of Plug Power from $2.00 to $1.80 and set a “hold” rating on the stock in a report on Monday, March 9th. BMO Capital Markets increased their price target on shares of Plug Power from $1.00 to $1.20 and gave the company an “underperform” rating in a report on Tuesday, May 12th. HC Wainwright reiterated a “buy” rating and issued a $7.00 price target on shares of Plug Power in a research report on Tuesday, March 3rd. Finally, BTIG Research reissued a “neutral” rating on shares of Plug Power in a research note on Tuesday, March 3rd. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, Plug Power has an average rating of “Hold” and an average price target of $3.42.

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.