Headlands Technologies LLC Purchases New Position in Plug Power Inc. (NASDAQ:PLUG)

Headlands Technologies LLC acquired a new position in shares of Plug Power Inc. (NASDAQ:PLUG) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 44,863 shares of the electronics maker’s stock, valued at approximately $154,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PLUG. FAS Wealth Partners Inc. bought a new stake in Plug Power in the 4th quarter valued at $45,000. Independent Advisor Alliance acquired a new stake in shares of Plug Power during the fourth quarter worth $45,000. Mosley Wealth Management bought a new stake in shares of Plug Power in the first quarter valued at about $35,000. J.W. Cole Advisors Inc. acquired a new position in shares of Plug Power in the first quarter valued at about $36,000. Finally, HighPoint Advisor Group LLC bought a new position in Plug Power during the fourth quarter worth about $48,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PLUG shares. Marathon Capitl restated an “equal weight” rating on shares of Plug Power in a research report on Tuesday, March 26th. Canaccord Genuity Group dropped their price target on Plug Power from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Monday, May 13th. Citigroup downgraded shares of Plug Power from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $3.25 to $2.00 in a research note on Friday, April 5th. Susquehanna dropped their target price on shares of Plug Power from $3.50 to $3.00 and set a “neutral” rating for the company in a research report on Friday, May 10th. Finally, Morgan Stanley reduced their price target on shares of Plug Power from $3.00 to $2.50 and set an “underweight” rating on the stock in a research report on Friday, May 10th. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $5.49.

Insider Transactions at Plug Power

In other Plug Power news, Director George C. Mcnamee sold 10,000 shares of the company’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $2.56, for a total transaction of $25,600.00. Following the sale, the director now owns 639,572 shares of the company’s stock, valued at $1,637,304.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.70% of the stock is currently owned by corporate insiders.

Plug Power Price Performance

Shares of Plug Power stock traded down $0.09 during trading on Wednesday, hitting $3.25. The company’s stock had a trading volume of 10,157,831 shares, compared to its average volume of 39,376,648. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.87 and a current ratio of 1.94. Plug Power Inc. has a 52 week low of $2.21 and a 52 week high of $13.44. The stock has a 50-day moving average price of $2.88 and a two-hundred day moving average price of $3.25.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Thursday, May 9th. The electronics maker reported ($0.43) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.11). The company had revenue of $120.26 million during the quarter, compared to analyst estimates of $162.92 million. Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. Equities analysts anticipate that Plug Power Inc. will post -1.13 earnings per share for the current fiscal year.

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.