Abel Hall LLC Takes Position in Plug Power Inc. (NASDAQ:PLUG)

Abel Hall LLC bought a new position in shares of Plug Power Inc. (NASDAQ:PLUG) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 14,363 shares of the electronics maker’s stock, valued at approximately $31,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its stake in shares of Plug Power by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,109,530 shares of the electronics maker’s stock valued at $2,588,000 after buying an additional 187,205 shares in the last quarter. Xponance Inc. raised its position in Plug Power by 118.4% in the second quarter. Xponance Inc. now owns 40,035 shares of the electronics maker’s stock worth $93,000 after purchasing an additional 21,707 shares in the last quarter. Marshall Wace LLP lifted its stake in Plug Power by 80.0% during the second quarter. Marshall Wace LLP now owns 24,492 shares of the electronics maker’s stock worth $57,000 after purchasing an additional 10,882 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Plug Power by 144.4% during the second quarter. The Manufacturers Life Insurance Company now owns 382,186 shares of the electronics maker’s stock valued at $890,000 after purchasing an additional 225,834 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Plug Power during the second quarter valued at approximately $152,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Plug Power Trading Down 4.1 %

Plug Power stock opened at $1.88 on Thursday. The company has a 50 day moving average of $2.36 and a 200-day moving average of $2.22. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a twelve month low of $1.60 and a twelve month high of $5.14.

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

Analyst Ratings Changes

PLUG has been the subject of several recent analyst reports. Canaccord Genuity Group dropped their price objective on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Piper Sandler cut their price target on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Evercore ISI lowered their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. StockNews.com raised shares of Plug Power to a “sell” rating in a research note on Wednesday, January 22nd. Finally, BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $4.46.

Plug Power 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.