37,200 Shares in Plug Power Inc. (NASDAQ:PLUG) Bought by Sustainable Insight Capital Management LLC

Sustainable Insight Capital Management LLC purchased a new position in Plug Power Inc. (NASDAQ:PLUG) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 37,200 shares of the electronics maker’s stock, valued at approximately $79,000.

Several other large investors also recently made changes to their positions in the stock. ACT Wealth Management LLC lifted its holdings in Plug Power by 71.4% in the 4th quarter. ACT Wealth Management LLC now owns 24,000 shares of the electronics maker’s stock worth $51,000 after purchasing an additional 10,000 shares during the last quarter. Arkadios Wealth Advisors lifted its stake in shares of Plug Power by 88.0% in the fourth quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker’s stock worth $132,000 after buying an additional 29,062 shares during the last quarter. Kieckhefer Group LLC bought a new stake in shares of Plug Power during the 4th quarter worth $138,000. Sanctuary Advisors LLC acquired a new position in Plug Power in the 3rd quarter valued at $206,000. Finally, Arete Wealth Advisors LLC raised its holdings in Plug Power by 575.8% in the 3rd quarter. Arete Wealth Advisors LLC now owns 147,117 shares of the electronics maker’s stock worth $332,000 after acquiring an additional 125,347 shares during the period. Institutional investors own 43.48% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLUG. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Wells Fargo & Company cut their price target on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Jefferies Financial Group dropped their target price on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Piper Sandler reduced their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a report on Thursday, November 14th. Finally, Canaccord Genuity Group dropped their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $4.55.

Plug Power Stock Up 3.0 %

Shares of PLUG opened at $2.09 on Friday. The company has a market capitalization of $1.90 billion, a P/E ratio of -0.98 and a beta of 1.79. Plug Power Inc. has a one year low of $1.60 and a one year high of $5.14. The business’s 50 day simple moving average is $2.36 and its 200-day simple moving average is $2.25. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business had revenue of $173.70 million for the quarter, compared to the consensus estimate of $207.25 million. During the same quarter in the previous year, the company posted ($0.47) EPS. Plug Power’s revenue for the quarter was down 12.6% on a year-over-year basis. As a group, sell-side analysts predict that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Plug Power Company 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.