Capital Asset Advisory Services LLC Makes New $108,000 Investment in Plug Power Inc. (NASDAQ:PLUG)


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Capital Asset Advisory Services LLC acquired a new position in shares of Plug Power Inc. (NASDAQ:PLUG) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 3,186 shares of the electronics maker’s stock, valued at approximately $108,000.

Other large investors have also recently bought and sold shares of the company. National Asset Management Inc. lifted its holdings in Plug Power by 33.7% during the 4th quarter. National Asset Management Inc. now owns 26,058 shares of the electronics maker’s stock worth $884,000 after buying an additional 6,572 shares in the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Plug Power in the 4th quarter valued at $71,000. Engineers Gate Manager LP lifted its stake in shares of Plug Power by 107.8% in the 3rd quarter. Engineers Gate Manager LP now owns 68,546 shares of the electronics maker’s stock valued at $919,000 after purchasing an additional 35,563 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Plug Power by 578.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 284,409 shares of the electronics maker’s stock valued at $9,644,000 after purchasing an additional 242,476 shares during the period. Finally, Thornburg Investment Management Inc. acquired a new position in shares of Plug Power in the 4th quarter valued at $17,556,000. 50.89% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Andrew Marsh sold 573,268 shares of the stock in a transaction dated Tuesday, January 19th. The shares were sold at an average price of $65.82, for a total transaction of $37,732,499.76. Following the completion of the transaction, the chief executive officer now directly owns 855,280 shares in the company, valued at approximately $56,294,529.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jonathan M. Silver sold 1,780 shares of the stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $48.92, for a total transaction of $87,077.60. Following the transaction, the director now owns 42,888 shares of the company’s stock, valued at $2,098,080.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 595,048 shares of company stock valued at $39,044,777. Company insiders own 4.50% of the company’s stock.

PLUG stock opened at $31.96 on Thursday. The stock has a 50-day moving average price of $42.35 and a two-hundred day moving average price of $35.66. The stock has a market cap of $15.00 billion, a PE ratio of -96.85 and a beta of 1.81. The company has a current ratio of 2.95, a quick ratio of 2.44 and a debt-to-equity ratio of 0.91. Plug Power Inc. has a 1 year low of $3.66 and a 1 year high of $75.49.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Thursday, February 25th. The electronics maker reported ($1.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($1.04). Plug Power had a negative return on equity of 37.12% and a negative net margin of 33.75%. The business had revenue of $139.66 million for the quarter, compared to analyst estimates of $84.93 million. On average, analysts forecast that Plug Power Inc. will post -0.34 earnings per share for the current fiscal year.

PLUG has been the topic of a number of analyst reports. Roth Capital reissued a “buy” rating and issued a $65.00 price target on shares of Plug Power in a research note on Monday, March 8th. Piper Sandler cut their price target on Plug Power from $48.00 to $42.00 in a research note on Tuesday. Zacks Investment Research raised Plug Power from a “sell” rating to a “hold” rating in a research note on Thursday, March 25th. Truist downgraded Plug Power from a “buy” rating to a “hold” rating in a research note on Wednesday, March 17th. Finally, Truist Financial downgraded Plug Power from a “buy” rating to a “hold” rating in a research note on Wednesday, March 17th. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. Plug Power presently has an average rating of “Buy” and an average target price of $51.93.

Plug Power Profile

Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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