Abel Hall LLC Buys New Shares in Plug Power, Inc. $PLUG

Abel Hall LLC bought a new stake in Plug Power, Inc. (NASDAQ:PLUG) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 20,110 shares of the electronics maker’s stock, valued at approximately $30,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brave Asset Management Inc. increased its stake in Plug Power by 603.8% in the second quarter. Brave Asset Management Inc. now owns 140,400 shares of the electronics maker’s stock valued at $209,000 after purchasing an additional 120,450 shares during the last quarter. Baader Bank Aktiengesellschaft increased its stake in Plug Power by 3,034.2% during the second quarter. Baader Bank Aktiengesellschaft now owns 652,950 shares of the electronics maker’s stock worth $973,000 after acquiring an additional 632,117 shares during the last quarter. Vanguard Group Inc. increased its stake in Plug Power by 4.5% during the first quarter. Vanguard Group Inc. now owns 91,368,845 shares of the electronics maker’s stock worth $123,348,000 after acquiring an additional 3,930,342 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Plug Power by 6.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,972,199 shares of the electronics maker’s stock worth $9,412,000 after acquiring an additional 418,493 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in Plug Power by 110.6% during the first quarter. SG Americas Securities LLC now owns 2,615,819 shares of the electronics maker’s stock worth $3,531,000 after acquiring an additional 1,373,486 shares during the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on PLUG. Evercore ISI upgraded Plug Power to a “strong sell” rating in a research note on Tuesday, July 15th. HSBC set a $4.40 price target on Plug Power in a research note on Thursday. Wells Fargo & Company upped their price target on Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 14th. Jefferies Financial Group upped their price target on Plug Power from $0.90 to $1.60 and gave the stock a “hold” rating in a research note on Wednesday, July 23rd. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $2.35.

Plug Power Trading Up 3.6%

Shares of PLUG opened at $3.78 on Friday. The company has a market capitalization of $4.37 billion, a P/E ratio of -1.64 and a beta of 2.23. Plug Power, Inc. has a one year low of $0.69 and a one year high of $4.58. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. The stock has a 50-day moving average price of $1.99 and a 200 day moving average price of $1.45.

Plug Power (NASDAQ:PLUG) last issued its quarterly 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 business had revenue of $173.97 million during the quarter, compared to analysts’ expectations of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Sell-side analysts forecast 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.