Bouvel Investment Partners LLC Raises Holdings in Plug Power, Inc. (NASDAQ:PLUG)

Bouvel Investment Partners LLC lifted its stake in Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 2,424.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 378,634 shares of the electronics maker's stock after purchasing an additional 363,634 shares during the quarter. Bouvel Investment Partners LLC's holdings in Plug Power were worth $511,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new position in shares of Plug Power in the fourth quarter valued at about $25,000. Jones Financial Companies Lllp lifted its position in shares of Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock valued at $25,000 after buying an additional 6,074 shares in the last quarter. Callan Family Office LLC acquired a new stake in shares of Plug Power in the fourth quarter valued at about $27,000. Ground Swell Capital LLC purchased a new stake in Plug Power during the 4th quarter worth approximately $27,000. Finally, Savant Capital LLC acquired a new position in Plug Power in the 4th quarter valued at $31,000. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PLUG shares. Piper Sandler lowered their target price on Plug Power from $1.10 to $0.80 and set an "underweight" rating on the stock in a report on Wednesday, May 14th. BMO Capital Markets decreased their price objective on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a report on Wednesday, March 5th. UBS Group cut their price target on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Wells Fargo & Company decreased their target price on Plug Power from $2.00 to $1.00 and set an "equal weight" rating for the company in a report on Wednesday, May 14th. Finally, Roth Capital reiterated a "buy" rating on shares of Plug Power in a research note on Tuesday, May 13th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of "Hold" and an average target price of $1.83.

Insiders Place Their Bets

In other news, insider Paul B. Middleton acquired 650,000 shares of the business's stock in a transaction on Monday, June 9th. The stock was bought at an average price of $1.03 per share, for a total transaction of $669,500.00. Following the transaction, the insider now owns 2,558,064 shares in the company, valued at $2,634,805.92. This represents a 34.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.41% of the stock is owned by insiders.

Plug Power Stock Performance

Shares of Plug Power stock traded up $0.05 during trading on Wednesday, reaching $1.14. The company's stock had a trading volume of 50,760,303 shares, compared to its average volume of 92,470,594. The firm has a market cap of $1.31 billion, a PE ratio of -0.46 and a beta of 2.17. The company has a 50-day moving average price of $0.93 and a two-hundred day moving average price of $1.61. The company has a current ratio of 1.95, a quick ratio of 1.07 and a debt-to-equity ratio of 0.27. Plug Power, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $3.34.

Plug Power (NASDAQ:PLUG - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The electronics maker reported ($0.21) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.01). Plug Power had a negative net margin of 312.29% and a negative return on equity of 82.21%. The business had revenue of $133.67 million during the quarter, compared to analyst estimates of $130.92 million. On average, analysts forecast that Plug Power, Inc. will post -1.21 EPS for the current 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.