United Advisor Group LLC Takes Position in Plug Power Inc. (NASDAQ:PLUG)

United Advisor Group LLC acquired a new stake in Plug Power Inc. (NASDAQ:PLUG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 98,682 shares of the electronics maker’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently made changes to their positions in PLUG. SteelPeak Wealth LLC purchased a new position in Plug Power during the 2nd quarter valued at about $26,000. Nations Financial Group Inc. IA ADV bought a new stake in Plug Power in the second quarter valued at approximately $26,000. Aire Advisors LLC purchased a new stake in Plug Power during the 2nd quarter valued at $28,000. Madison Park Capital Advisors LLC purchased a new position in Plug Power during the 2nd quarter valued at about $29,000. Finally, Profund Advisors LLC purchased a new stake in Plug Power in the second quarter worth $29,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Price Performance

PLUG stock opened at $1.97 on Thursday. The company has a current ratio of 2.07, a quick ratio of 0.91 and a debt-to-equity ratio of 0.16. Plug Power Inc. has a 12 month low of $1.60 and a 12 month high of $6.33. The stock has a market cap of $1.73 billion, a PE ratio of -0.83 and a beta of 1.81. The company has a 50-day moving average price of $2.05 and a 200 day moving average price of $2.43.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.06). The company had revenue of $143.40 million for the quarter, compared to the consensus estimate of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The company’s quarterly revenue was down 44.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.35) EPS. Equities research analysts anticipate that Plug Power Inc. will post -1.16 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on PLUG. Craig Hallum dropped their target price on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Truist Financial lowered their target price on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $3.00 to $2.50 and set a “hold” rating on the stock in a research note on Monday, August 12th. Jefferies Financial Group cut their price target on Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Finally, Piper Sandler reduced their price objective on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.01.

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.