Plug Power, Inc. $PLUG Shares Acquired by Brave Asset Management Inc.

Key Points

• Brave Asset Management Inc. significantly increased its stake in Plug Power, Inc. by 603.8% during the second quarter, acquiring a total of 140,400 shares valued at $209,000.
• Plug Power reported a loss of ($0.16) earnings per share for the last quarter, missing expectations, but exceeded revenue estimates with $173.97 million.
• Wall Street analysts have mixed ratings on Plug Power, with an average target price of $1.88 and ratings ranging from "Buy" to "Sell."

Brave Asset Management Inc. increased its holdings in shares of Plug Power, Inc. (NASDAQ:PLUG - Free Report) by 603.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,400 shares of the electronics maker's stock after purchasing an additional 120,450 shares during the quarter. Brave Asset Management Inc.'s holdings in Plug Power were worth $209,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PLUG. Miracle Mile Advisors LLC acquired a new stake in shares of Plug Power during the first quarter valued at about $26,000. Baader Bank Aktiengesellschaft purchased a new position in shares of Plug Power during the 1st quarter worth approximately $28,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Plug Power in the 1st quarter valued at approximately $34,000. JNBA Financial Advisors acquired a new stake in Plug Power in the 1st quarter valued at approximately $37,000. Finally, Focus Partners Wealth purchased a new stake in Plug Power in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 43.48% of the company's stock.

Plug Power Stock Performance

Shares of Plug Power stock opened at $2.36 on Friday. The business has a 50-day simple moving average of $1.69 and a 200-day simple moving average of $1.34. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 1.59. Plug Power, Inc. has a one year low of $0.69 and a one year high of $3.32. The company has a market cap of $2.73 billion, a PE ratio of -1.02 and a beta of 2.09.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PLUG shares. BMO Capital Markets lowered their price target on Plug Power from $1.10 to $1.00 and set an "underperform" rating for the company in a research report on Tuesday, August 12th. Susquehanna raised their target price on Plug Power from $1.00 to $1.80 and gave the company a "neutral" rating in a report on Monday, July 21st. Evercore ISI upgraded shares of Plug Power to a "strong sell" rating in a research note on Tuesday, July 15th. Wells Fargo & Company increased their price target on shares of Plug Power from $1.00 to $1.50 and gave the stock an "equal weight" rating in a research report on Thursday, August 14th. Finally, Jefferies Financial Group lifted their price objective on shares of Plug Power from $0.90 to $1.60 and gave the company a "hold" rating in a report on Wednesday, July 23rd. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Reduce" and an average target price of $1.88.

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.

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