Evanson Asset Management LLC Buys New Position in Plug Power Inc. (NASDAQ:PLUG)

Evanson Asset Management LLC bought a new stake in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 12,753 shares of the electronics maker's stock, valued at approximately $133,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Clarus Wealth Advisors raised its holdings in Plug Power by 50.6% in the 2nd quarter. Clarus Wealth Advisors now owns 28,459 shares of the electronics maker's stock valued at $302,000 after acquiring an additional 9,564 shares in the last quarter. SG Americas Securities LLC raised its holdings in Plug Power by 1,167.5% in the 2nd quarter. SG Americas Securities LLC now owns 428,044 shares of the electronics maker's stock valued at $4,447,000 after acquiring an additional 394,272 shares in the last quarter. Psagot Value Holdings Ltd. Israel acquired a new position in Plug Power in the 1st quarter valued at approximately $175,000. Macquarie Group Ltd. raised its holdings in Plug Power by 179.1% in the 1st quarter. Macquarie Group Ltd. now owns 18,063 shares of the electronics maker's stock valued at $212,000 after acquiring an additional 11,591 shares in the last quarter. Finally, Toroso Investments LLC raised its holdings in Plug Power by 58.9% in the 1st quarter. Toroso Investments LLC now owns 162,341 shares of the electronics maker's stock valued at $1,903,000 after acquiring an additional 60,162 shares in the last quarter. Institutional investors own 49.99% of the company's stock.

Plug Power Stock Down 2.4 %

Shares of PLUG opened at $8.52 on Friday. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of -5.96 and a beta of 1.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 3.16. The business's fifty day moving average price is $10.10 and its two-hundred day moving average price is $9.98. Plug Power Inc. has a 52 week low of $7.39 and a 52 week high of $28.86.

Plug Power (NASDAQ:PLUG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 9th. The electronics maker reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.07). Plug Power had a negative net margin of 95.15% and a negative return on equity of 20.27%. The firm had revenue of $260.18 million during the quarter, compared to the consensus estimate of $237.38 million. On average, analysts predict that Plug Power Inc. will post -1.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on PLUG. Roth Mkm reaffirmed a "neutral" rating and issued a $7.50 price target (down previously from $13.00) on shares of Plug Power in a report on Thursday, August 10th. Seaport Res Ptn reissued a "buy" rating on shares of Plug Power in a report on Tuesday, June 6th. Northland Securities raised Plug Power from a "market perform" rating to an "outperform" rating and set a $22.00 target price for the company in a report on Friday, July 14th. B. Riley dropped their target price on Plug Power from $26.00 to $18.00 in a report on Tuesday, June 27th. Finally, Piper Sandler increased their target price on Plug Power from $8.00 to $9.00 in a report on Tuesday, July 18th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat, Plug Power presently has an average rating of "Moderate Buy" and a consensus target price of $18.40.

Plug Power Company Profile

Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.

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