Prescott Group Capital Management L.L.C. Invests $1.20 Million in Plug Power, Inc. $PLUG

Key Points

• Prescott Group Capital Management opened a new position in Plug Power, buying 610,000 shares valued at about $1.2 million in the fourth quarter.
• Plug Power reported better-than-expected quarterly results, posting a smaller-than-expected loss and revenue of $163.51 million, which was up 22.3% from a year earlier.
• Analyst sentiment remains mixed: several firms recently raised price targets, but the stock still carries an overall “Hold” consensus and a target price of $3.42.

Prescott Group Capital Management L.L.C. bought a new position in Plug Power, Inc. (NASDAQ:PLUG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 610,000 shares of the electronics maker's stock, valued at approximately $1,202,000.

Several other large investors have also made changes to their positions in the company. Profund Advisors LLC grew its holdings in shares of Plug Power by 24.4% in the 3rd quarter. Profund Advisors LLC now owns 20,188 shares of the electronics maker's stock worth $47,000 after purchasing an additional 3,961 shares during the last quarter. SlateStone Wealth LLC boosted its holdings in shares of Plug Power by 16.0% in the 3rd quarter. SlateStone Wealth LLC now owns 29,077 shares of the electronics maker's stock worth $68,000 after acquiring an additional 4,000 shares in the last quarter. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Plug Power by 33.4% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 18,414 shares of the electronics maker's stock worth $43,000 after acquiring an additional 4,615 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Plug Power by 53.6% in the 4th quarter. International Assets Investment Management LLC now owns 15,773 shares of the electronics maker's stock worth $31,000 after acquiring an additional 5,503 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in shares of Plug Power by 10.6% in the 3rd quarter. Mackenzie Financial Corp now owns 58,098 shares of the electronics maker's stock worth $135,000 after acquiring an additional 5,584 shares in the last quarter. Institutional investors own 43.48% of the company's stock.

Plug Power Stock Performance

Shares of Plug Power stock opened at $3.31 on Thursday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.40. The firm has a market cap of $4.62 billion, a P/E ratio of -2.51 and a beta of 2.06. The firm has a 50 day simple moving average of $2.81 and a 200 day simple moving average of $2.40. Plug Power, Inc. has a fifty-two week low of $0.74 and a fifty-two week high of $4.58.

Plug Power (NASDAQ:PLUG - Get Free Report) last issued its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.01. The business had revenue of $163.51 million during the quarter, compared to analyst estimates of $139.87 million. Plug Power had a negative net margin of 227.13% and a negative return on equity of 49.30%. Plug Power's revenue for the quarter was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.21) earnings per share. Sell-side analysts predict that Plug Power, Inc. will post -0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PLUG shares. Canaccord Genuity Group boosted their target price on Plug Power from $2.50 to $4.00 and gave the stock a "hold" rating in a report on Tuesday, May 12th. B. Riley Financial boosted their target price on Plug Power from $3.00 to $5.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of Plug Power in a report on Tuesday, April 21st. HC Wainwright reissued a "buy" rating and issued a $7.00 target price on shares of Plug Power in a report on Tuesday, March 3rd. Finally, Susquehanna boosted their target price on Plug Power from $2.75 to $3.75 and gave the stock a "neutral" rating in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat, Plug Power presently has an average rating of "Hold" and a consensus target price of $3.42.

Key Stories Impacting Plug Power

Here are the key news stories impacting Plug Power this week:

• Positive Sentiment: Plug Power announced a major win in the U.K., supplying electrolyzers for the 30 MW Barrow Green Hydrogen Project, which reached final investment decision and adds to the company’s backlog/near-term revenue visibility. Article Title
• Positive Sentiment: Investor attention remains focused on Plug Power’s better-than-expected Q1 results, with revenue beating Wall Street estimates and management pointing to stronger material handling, electrolyzer, and hydrogen fuel performance plus margin improvement from cost cuts. Article Title
• Positive Sentiment: Wells Fargo raised its price target on Plug Power to $2.50 from $2.00, signaling improving sentiment even though the firm still has an “equal weight” view. Article Title
• Neutral Sentiment: Hydrogen stocks were broadly active, with gains in names like FuelCell Energy and Bloom Energy, but the rotation also suggests Plug Power is not the only company benefiting from sector-wide speculation. Article Title
• Neutral Sentiment: Recent articles have also raised the possibility of a short squeeze and a move toward $5, reflecting speculative interest rather than a confirmed change in fundamentals. Article Title

Plug Power Company Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.

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