International Assets Investment Management LLC Increases Stock Position in Plug Power Inc. (NASDAQ:PLUG)

International Assets Investment Management LLC lifted its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 275.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 66,573 shares of the electronics maker’s stock after purchasing an additional 48,854 shares during the period. International Assets Investment Management LLC’s holdings in Plug Power were worth $300,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millburn Ridgefield Corp bought a new position in shares of Plug Power during the 3rd quarter worth approximately $29,000. Exchange Traded Concepts LLC lifted its holdings in Plug Power by 30.3% during the third quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock worth $49,000 after acquiring an additional 1,510 shares during the period. FAS Wealth Partners Inc. purchased a new position in Plug Power in the fourth quarter worth $45,000. Signaturefd LLC boosted its position in Plug Power by 114.3% in the third quarter. Signaturefd LLC now owns 10,256 shares of the electronics maker’s stock worth $78,000 after purchasing an additional 5,471 shares during the last quarter. Finally, Forum Financial Management LP purchased a new stake in shares of Plug Power during the 3rd quarter valued at $79,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Stock Up 1.3 %

Plug Power stock opened at $2.41 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of -1.05 and a beta of 1.54. The business has a fifty day moving average price of $3.25 and a 200-day moving average price of $4.15. Plug Power Inc. has a 1-year low of $2.25 and a 1-year high of $13.44.

Plug Power (NASDAQ:PLUG) last released its earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.56) by ($0.52). The firm had revenue of $222.20 million during the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. Plug Power’s revenue was up .7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.38) earnings per share. Equities research analysts forecast that Plug Power Inc. will post -0.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PLUG has been the subject of a number of research analyst reports. Marathon Capitl restated an “equal weight” rating on shares of Plug Power in a report on Tuesday, March 26th. BMO Capital Markets lowered Plug Power from a “market perform” rating to an “underperform” rating and lowered their target price for the company from $3.50 to $2.50 in a research note on Wednesday, January 24th. Piper Sandler lifted their price objective on Plug Power from $2.80 to $2.90 and gave the stock an “underweight” rating in a report on Tuesday, March 5th. Canaccord Genuity Group cut their target price on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, March 4th. Finally, Royal Bank of Canada dropped their price target on shares of Plug Power from $5.00 to $3.50 and set a “sector perform” rating on the stock in a research note on Wednesday, January 24th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Plug Power currently has an average rating of “Hold” and an average price target of $6.05.

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.