Abel Hall LLC Acquires Shares of 14,363 Plug Power Inc. (NASDAQ:PLUG)

Abel Hall LLC bought a new position in Plug Power Inc. (NASDAQ:PLUG) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 14,363 shares of the electronics maker’s stock, valued at approximately $31,000.

Other large investors have also modified their holdings of the company. Nations Financial Group Inc. IA ADV increased its position in shares of Plug Power by 42.3% during the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after acquiring an additional 4,700 shares during the last quarter. Arkadios Wealth Advisors grew its stake in Plug Power by 18.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after purchasing an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Plug Power by 0.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after purchasing an additional 5,485 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in shares of Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares in the last quarter. Finally, Millburn Ridgefield Corp boosted its stake in shares of Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after buying an additional 5,631 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PLUG. Canaccord Genuity Group reduced their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Evercore ISI reduced their price target on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Susquehanna increased their price objective on shares of Plug Power from $2.00 to $2.50 and gave the stock a “neutral” rating in a research note on Thursday, January 16th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $4.46.

Plug Power Stock Performance

Shares of NASDAQ:PLUG opened at $1.88 on Thursday. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a fifty day moving average of $2.36 and a 200-day moving average of $2.22. Plug Power Inc. has a one year low of $1.60 and a one year high of $5.14.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same period in the prior year, the company earned ($0.47) earnings per share. The company’s revenue for the quarter was down 12.6% on a year-over-year basis. Research analysts forecast that Plug Power Inc. will post -1.2 EPS for the current 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.