Sustainable Insight Capital Management LLC Takes Position in Plug Power Inc. (NASDAQ:PLUG)

Sustainable Insight Capital Management LLC bought a new position in shares of Plug Power Inc. (NASDAQ:PLUG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 37,200 shares of the electronics maker’s stock, valued at approximately $79,000.

Several other large investors have also made changes to their positions in the company. Profund Advisors LLC bought a new stake in shares of Plug Power during the 2nd quarter valued at $29,000. Prio Wealth Limited Partnership acquired a new position in Plug Power in the third quarter valued at about $29,000. Catalyst Capital Advisors LLC boosted its holdings in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares during the last quarter. First Commonwealth Financial Corp PA acquired a new position in shares of Plug Power during the 3rd quarter worth about $29,000. Finally, Millburn Ridgefield Corp raised its position in shares of Plug Power by 79.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

NASDAQ:PLUG opened at $2.09 on Friday. The stock has a market capitalization of $1.90 billion, a PE ratio of -0.98 and a beta of 1.79. Plug Power Inc. has a 1-year low of $1.60 and a 1-year high of $5.14. The firm has a fifty day simple moving average of $2.36 and a 200 day simple moving average of $2.25. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s revenue was down 12.6% on a year-over-year basis. During the same period last year, the business earned ($0.47) EPS. On average, research analysts expect that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Analyst Ratings Changes

PLUG has been the subject of a number of analyst reports. Craig Hallum decreased their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Piper Sandler lowered their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. HC Wainwright restated a “buy” rating and issued a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Finally, Evercore ISI cut their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.55.

Plug Power 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.