Capstone Financial Advisors Inc. Takes Position in Plug Power, Inc. $PLUG

Capstone Financial Advisors Inc. bought a new position in shares of Plug Power, Inc. (NASDAQ:PLUG) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 21,625 shares of the electronics maker’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Police & Firemen s Retirement System of New Jersey raised its holdings in Plug Power by 14.7% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 206,541 shares of the electronics maker’s stock valued at $308,000 after acquiring an additional 26,488 shares during the period. Geode Capital Management LLC grew its position in shares of Plug Power by 14.9% in the second quarter. Geode Capital Management LLC now owns 24,071,904 shares of the electronics maker’s stock valued at $35,872,000 after purchasing an additional 3,125,542 shares during the last quarter. KBC Group NV increased its stake in shares of Plug Power by 153.6% during the second quarter. KBC Group NV now owns 353,917 shares of the electronics maker’s stock worth $527,000 after purchasing an additional 214,342 shares during the period. SBI Securities Co. Ltd. increased its stake in shares of Plug Power by 10.1% during the second quarter. SBI Securities Co. Ltd. now owns 201,754 shares of the electronics maker’s stock worth $301,000 after purchasing an additional 18,564 shares during the period. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its holdings in Plug Power by 106.7% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 52,851 shares of the electronics maker’s stock worth $79,000 after purchasing an additional 27,280 shares during the last quarter. Institutional investors own 43.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PLUG. Hsbc Global Res raised Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. HC Wainwright upped their price target on shares of Plug Power from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Wall Street Zen raised shares of Plug Power from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Canaccord Genuity Group boosted their price objective on shares of Plug Power from $1.25 to $2.50 and gave the company a “hold” rating in a report on Tuesday. Finally, Susquehanna increased their target price on shares of Plug Power from $1.80 to $3.50 and gave the stock a “neutral” rating in a research report on Monday, October 13th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $2.50.

Insider Transactions at Plug Power

In related news, EVP Benjamin Haycraft sold 10,000 shares of Plug Power stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $2.92, for a total value of $29,200.00. Following the transaction, the executive vice president directly owned 467,583 shares of the company’s stock, valued at $1,365,342.36. This trade represents a 2.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.41% of the stock is owned by company insiders.

Plug Power Trading Down 8.8%

PLUG opened at $2.49 on Friday. Plug Power, Inc. has a twelve month low of $0.69 and a twelve month high of $4.58. The company has a 50-day simple moving average of $2.70 and a 200 day simple moving average of $1.78. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of -1.08 and a beta of 2.28.

Plug Power (NASDAQ:PLUG) last released its earnings results on Monday, November 10th. The electronics maker reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.13) by $0.01. The firm had revenue of $177.06 million for the quarter, compared to analyst estimates of $185.41 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. Plug Power has set its FY 2025 guidance at EPS. Analysts predict that Plug Power, Inc. will post -1.21 EPS for the current fiscal 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.