PFG Investments LLC Decreases Stock Holdings in Plug Power, Inc. $PLUG

PFG Investments LLC reduced its position in shares of Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 23.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 278,776 shares of the electronics maker's stock after selling 87,110 shares during the quarter. PFG Investments LLC's holdings in Plug Power were worth $415,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of PLUG. Miracle Mile Advisors LLC bought a new position in Plug Power during the first quarter valued at $26,000. Baader Bank Aktiengesellschaft purchased a new stake in shares of Plug Power during the 1st quarter valued at about $28,000. O ROURKE & COMPANY Inc bought a new position in shares of Plug Power in the 2nd quarter valued at about $30,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Plug Power in the first quarter worth about $34,000. Finally, JNBA Financial Advisors bought a new stake in Plug Power during the first quarter worth approximately $37,000. Institutional investors own 43.48% of the company's stock.

Plug Power Trading Up 34.6%

PLUG opened at $3.81 on Friday. The company has a current ratio of 1.59, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a market cap of $4.40 billion, a price-to-earnings ratio of -1.65 and a beta of 2.23. Plug Power, Inc. has a 12 month low of $0.69 and a 12 month high of $3.95. The stock has a fifty day moving average price of $1.81 and a 200-day moving average price of $1.39.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The electronics maker reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of ($0.15) by ($0.01). The company had revenue of $173.97 million for the quarter, compared to the consensus estimate of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. As a group, equities research analysts anticipate that Plug Power, Inc. will post -1.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLUG has been the subject of several analyst reports. Jefferies Financial Group raised their price objective on Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a research note on Wednesday, July 23rd. Weiss Ratings restated a "sell (d-)" rating on shares of Plug Power in a research report on Saturday, September 27th. Wells Fargo & Company boosted their price objective on shares of Plug Power from $1.00 to $1.50 and gave the company an "equal weight" rating in a research report on Thursday, August 14th. Susquehanna raised their target price on shares of Plug Power from $1.00 to $1.80 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, BMO Capital Markets dropped their price target on shares of Plug Power from $1.10 to $1.00 and set an "underperform" rating for the company in a research note on Tuesday, August 12th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and six have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus price target of $2.19.

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.

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