Compass Financial Management LLC Invests $641,000 in Plug Power, Inc. $PLUG

Compass Financial Management LLC bought a new stake in shares of Plug Power, Inc. (NASDAQ:PLUG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 236,778 shares of the electronics maker’s stock, valued at approximately $641,000.

A number of other hedge funds and other institutional investors have also modified their holdings of PLUG. Wealthfront Advisers LLC raised its holdings in Plug Power by 19.0% during the 2nd quarter. Wealthfront Advisers LLC now owns 82,927 shares of the electronics maker’s stock worth $225,000 after buying an additional 13,218 shares during the period. BlackRock Inc. boosted its holdings in shares of Plug Power by 21.0% in the second quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock worth $498,728,000 after buying an additional 31,939,194 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Plug Power by 50.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,223,498 shares of the electronics maker’s stock worth $3,316,000 after buying an additional 411,558 shares during the period. AMG National Trust Bank purchased a new position in shares of Plug Power in the second quarter worth approximately $330,000. Finally, Global Retirement Partners LLC purchased a new position in shares of Plug Power in the second quarter worth approximately $73,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Canaccord Genuity Group upped their price target on shares of Plug Power from $2.50 to $4.00 and gave the company a “hold” rating in a research report on Tuesday, May 12th. Morgan Stanley lifted their price objective on shares of Plug Power from $1.50 to $1.65 and gave the stock an “underweight” rating in a research report on Thursday, July 9th. Craig Hallum reissued a “buy” rating on shares of Plug Power in a research note on Tuesday, August 11th. Weiss Ratings cut Plug Power from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Tuesday, July 28th. Finally, HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Plug Power in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $3.59.

Plug Power Stock Performance

Plug Power stock opened at $2.27 on Monday. Plug Power, Inc. has a 12 month low of $1.41 and a 12 month high of $4.58. The company has a quick ratio of 1.32, a current ratio of 2.32 and a debt-to-equity ratio of 1.29. The stock has a market cap of $3.17 billion, a P/E ratio of -1.80 and a beta of 2.20. The company’s fifty day simple moving average is $2.35 and its 200-day simple moving average is $2.59.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Monday, August 10th. The electronics maker reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Plug Power had a negative return on equity of 56.01% and a negative net margin of 220.59%.The business had revenue of $178.30 million during the quarter, compared to analyst estimates of $169.11 million. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Plug Power, Inc. will post -0.26 EPS for the current fiscal year.

Plug Power 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.