Headlands Technologies LLC Buys New Position in Plug Power, Inc. $PLUG

Headlands Technologies LLC purchased a new position in shares of Plug Power, Inc. (NASDAQ:PLUG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,763,652 shares of the electronics maker’s stock, valued at approximately $4,779,000. Headlands Technologies LLC owned about 0.13% of Plug Power as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in PLUG. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its stake in Plug Power by 116.7% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 13,000 shares of the electronics maker’s stock valued at $26,000 after buying an additional 7,000 shares during the last quarter. Sender Co & Partners Inc. purchased a new position in shares of Plug Power during the second quarter worth approximately $26,000. DUTCH ASSET Corp purchased a new position in shares of Plug Power during the fourth quarter worth approximately $29,000. Greenleaf Trust acquired a new position in shares of Plug Power in the 2nd quarter valued at $29,000. Finally, Independent Advisor Alliance acquired a new position in shares of Plug Power in the 4th quarter valued at $30,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PLUG shares. UBS Group reiterated a “buy” rating and set a $5.00 price target on shares of Plug Power in a research note on Tuesday, August 11th. Canaccord Genuity Group lifted their price objective on shares of Plug Power from $2.50 to $4.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Susquehanna reduced their target price on shares of Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a report on Friday, July 10th. Craig Hallum reiterated a “buy” rating on shares of Plug Power in a research note on Tuesday, August 11th. Finally, Morgan Stanley raised their price target on Plug Power from $1.50 to $1.65 and gave the stock an “underweight” rating in a report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, five have issued 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 presently has a consensus rating of “Hold” and a consensus price target of $3.59.

Plug Power Stock Performance

NASDAQ:PLUG opened at $2.19 on Monday. The firm’s fifty day moving average price is $2.29 and its 200 day moving average price is $2.60. Plug Power, Inc. has a 1-year low of $1.41 and a 1-year high of $4.58. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.32 and a quick ratio of 1.32. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -1.74 and a beta of 2.20.

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, beating the consensus estimate of ($0.08) by $0.01. The company had revenue of $178.30 million for the quarter, compared to analysts’ expectations of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. Plug Power’s quarterly revenue was up 2.5% compared to the same quarter last year. On average, sell-side analysts expect that Plug Power, Inc. will post -0.26 EPS for the current year.

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.