Plug Power Inc. (NASDAQ:PLUG) Shares Bought by Brookstone Capital Management

Brookstone Capital Management grew its stake in Plug Power Inc. (NASDAQ:PLUG) by 22.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,973 shares of the electronics maker’s stock after acquiring an additional 3,273 shares during the quarter. Brookstone Capital Management’s holdings in Plug Power were worth $81,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Natixis Advisors L.P. raised its stake in Plug Power by 0.9% during the second quarter. Natixis Advisors L.P. now owns 79,424 shares of the electronics maker’s stock worth $1,316,000 after purchasing an additional 723 shares during the period. US Bancorp DE raised its position in shares of Plug Power by 7.9% during the 1st quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock valued at $324,000 after buying an additional 833 shares during the period. Ethic Inc. lifted its holdings in Plug Power by 8.2% in the first quarter. Ethic Inc. now owns 12,098 shares of the electronics maker’s stock valued at $346,000 after acquiring an additional 914 shares during the last quarter. Blair William & Co. IL grew its position in Plug Power by 12.6% in the first quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock worth $238,000 after acquiring an additional 934 shares during the period. Finally, Neuberger Berman Group LLC increased its stake in Plug Power by 7.3% during the first quarter. Neuberger Berman Group LLC now owns 13,972 shares of the electronics maker’s stock worth $400,000 after acquiring an additional 946 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of PLUG opened at $3.43 on Thursday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85. Plug Power Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $13.44. The firm has a 50-day simple moving average of $3.68 and a 200-day simple moving average of $4.84. The company has a market capitalization of $2.35 billion, a price-to-earnings ratio of -1.50 and a beta of 1.56.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). The company had revenue of $222.20 million for the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The firm’s revenue was up .7% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.38) earnings per share. On average, equities research analysts anticipate that Plug Power Inc. will post -0.97 earnings per share for the current year.

Wall Street Analyst Weigh In

PLUG has been the topic of several recent analyst reports. Piper Sandler upped their price target on Plug Power from $2.80 to $2.90 and gave the company an “underweight” rating in a research note on Tuesday, March 5th. UBS Group lowered shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 target price for the company. in a research note on Tuesday, February 6th. Canaccord Genuity Group reduced their price target on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, March 4th. Roth Capital raised shares of Plug Power from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 31st. Finally, Royal Bank of Canada cut their target price on Plug Power from $5.00 to $3.50 and set a “sector perform” rating on the stock in a research report on Wednesday, January 24th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Plug Power currently has an average rating of “Hold” and a consensus target price of $6.20.

About Plug Power

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.