Arete Wealth Advisors LLC Has $332,000 Holdings in Plug Power Inc. (NASDAQ:PLUG)

Arete Wealth Advisors LLC grew its holdings in Plug Power Inc. (NASDAQ:PLUG) by 575.8% in the third quarter, HoldingsChannel reports. The institutional investor owned 147,117 shares of the electronics maker’s stock after acquiring an additional 125,347 shares during the period. Arete Wealth Advisors LLC’s holdings in Plug Power were worth $332,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Nations Financial Group Inc. IA ADV acquired a new position in shares of Plug Power in the 2nd quarter valued at $26,000. Aire Advisors LLC acquired a new position in shares of Plug Power in the 2nd quarter valued at $28,000. Madison Park Capital Advisors LLC acquired a new position in shares of Plug Power in the 2nd quarter valued at $29,000. Profund Advisors LLC acquired a new position in shares of Plug Power in the 2nd quarter valued at $29,000. Finally, Prio Wealth Limited Partnership acquired a new position in shares of Plug Power in the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PLUG shares. Piper Sandler dropped their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company lowered their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. Evercore ISI lowered their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 target price on shares of Plug Power in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $4.52.

Plug Power Stock Up 1.3 %

Shares of NASDAQ PLUG opened at $2.43 on Friday. The firm has a market capitalization of $2.21 billion, a PE ratio of -1.14 and a beta of 1.76. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 1 year low of $1.60 and a 1 year high of $5.14. The firm’s 50-day moving average is $2.15 and its 200-day moving average is $2.30.

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

Plug Power Company 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.