Wealthcare Advisory Partners LLC Acquires Shares of 2,007 Plug Power Inc. (NASDAQ:PLUG)

Wealthcare Advisory Partners LLC acquired a new stake in shares of Plug Power Inc. (NASDAQ:PLUG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,007 shares of the electronics maker’s stock, valued at approximately $72,000.

A number of other large investors also recently made changes to their positions in PLUG. Penserra Capital Management LLC purchased a new position in Plug Power during the fourth quarter valued at $28,000. North Star Investment Management Corp. raised its stake in shares of Plug Power by 30.5% in the fourth quarter. North Star Investment Management Corp. now owns 855 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 200 shares during the last quarter. Dividend Assets Capital LLC purchased a new position in shares of Plug Power in the first quarter worth $31,000. Trustcore Financial Services LLC raised its stake in shares of Plug Power by 375.0% in the fourth quarter. Trustcore Financial Services LLC now owns 950 shares of the electronics maker’s stock worth $32,000 after purchasing an additional 750 shares during the last quarter. Finally, TCI Wealth Advisors Inc. raised its stake in shares of Plug Power by 718.3% in the first quarter. TCI Wealth Advisors Inc. now owns 892 shares of the electronics maker’s stock worth $32,000 after purchasing an additional 783 shares during the last quarter. Institutional investors and hedge funds own 50.89% of the company’s stock.

NASDAQ PLUG opened at $24.58 on Friday. The firm has a market cap of $11.53 billion, a price-to-earnings ratio of -74.48 and a beta of 1.81. The company has a quick ratio of 2.44, a current ratio of 2.95 and a debt-to-equity ratio of 0.91. The business has a 50-day moving average price of $28.93 and a 200-day moving average price of $37.88. Plug Power Inc. has a twelve month low of $3.86 and a twelve month high of $75.49.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Thursday, February 25th. The electronics maker reported ($1.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($1.04). The business had revenue of $139.66 million during the quarter, compared to the consensus estimate of $84.93 million. Plug Power had a negative return on equity of 37.12% and a negative net margin of 33.75%. Research analysts expect that Plug Power Inc. will post -0.34 EPS for the current fiscal year.

Several research firms have recently weighed in on PLUG. Truist cut Plug Power from a “buy” rating to a “hold” rating in a research note on Wednesday, March 17th. Cowen decreased their price target on Plug Power from $82.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, February 26th. Piper Sandler cut their price objective on Plug Power from $48.00 to $42.00 in a report on Tuesday, April 6th. Evercore ISI initiated coverage on Plug Power in a report on Monday, April 26th. They issued an “outperform” rating and a $42.00 price objective for the company. Finally, Barclays reaffirmed an “underweight” rating and issued a $29.00 price objective (up previously from $21.00) on shares of Plug Power in a report on Monday, March 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company’s stock. Plug Power presently has a consensus rating of “Buy” and an average price target of $49.88.

Plug Power Profile

Plug Power Inc provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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