Advisors Asset Management Inc. Has $414,000 Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Advisors Asset Management Inc. lifted its holdings in shares of Plug Power Inc. (NASDAQ:PLUG) by 145.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 183,119 shares of the electronics maker’s stock after purchasing an additional 108,536 shares during the period. Advisors Asset Management Inc.’s holdings in Plug Power were worth $414,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of PLUG. SteelPeak Wealth LLC acquired a new position in Plug Power during the 2nd quarter worth about $26,000. Nations Financial Group Inc. IA ADV acquired a new position in shares of Plug Power in the second quarter worth approximately $26,000. Aire Advisors LLC bought a new stake in Plug Power in the second quarter valued at approximately $28,000. Madison Park Capital Advisors LLC acquired a new stake in Plug Power during the 2nd quarter valued at approximately $29,000. Finally, Profund Advisors LLC bought a new position in Plug Power during the 2nd quarter worth approximately $29,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

NASDAQ PLUG opened at $2.13 on Friday. The company has a fifty day moving average price of $2.08 and a 200-day moving average price of $2.37. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -1.00 and a beta of 1.81. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power Inc. has a 1 year low of $1.60 and a 1 year high of $5.14.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) earnings per share. As a group, equities research analysts predict that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PLUG has been the subject of several recent analyst reports. Jefferies Financial Group decreased their price objective on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research report on Thursday, October 3rd. Susquehanna lowered their price objective on Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research report on Monday, August 12th. Craig Hallum dropped their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Truist Financial decreased their target price on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research note on Monday, August 12th. Finally, Evercore ISI dropped their price target on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.52.

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.