Waldron Private Wealth LLC Purchases New Position in Plug Power Inc. (NASDAQ:PLUG)

Waldron Private Wealth LLC purchased a new stake in Plug Power Inc. (NASDAQ:PLUG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 13,502 shares of the electronics maker’s stock, valued at approximately $60,000.

Several other hedge funds have also recently bought and sold shares of PLUG. Millburn Ridgefield Corp acquired a new stake in Plug Power during the 3rd quarter worth approximately $29,000. ICA Group Wealth Management LLC bought a new position in Plug Power during the 4th quarter worth $35,000. Strategic Investment Solutions Inc. IL bought a new position in Plug Power during the 1st quarter worth $41,000. FAS Wealth Partners Inc. acquired a new stake in shares of Plug Power during the fourth quarter worth $45,000. Finally, Exchange Traded Concepts LLC boosted its position in shares of Plug Power by 30.3% in the third quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock valued at $49,000 after acquiring an additional 1,510 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Down 5.3 %

NASDAQ:PLUG opened at $2.70 on Wednesday. Plug Power Inc. has a one year low of $2.26 and a one year high of $13.44. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The firm’s 50 day simple moving average is $3.52 and its 200 day simple moving average is $4.35.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The business had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. Plug Power’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the firm posted ($0.38) EPS. On average, equities analysts anticipate that Plug Power Inc. will post -0.95 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Craig Hallum lowered their price target on shares of Plug Power from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, March 4th. Citigroup lowered shares of Plug Power from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $3.25 to $2.00 in a research report on Friday, April 5th. BMO Capital Markets downgraded shares of Plug Power from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $3.50 to $2.50 in a research report on Wednesday, January 24th. Truist Financial increased their price target on Plug Power from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Finally, Piper Sandler raised their target price on shares of Plug Power from $2.80 to $2.90 and gave the company an “underweight” rating in a report on Tuesday, March 5th. Four 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $6.05.

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.