Sovran Advisors LLC Invests $127,000 in Plug Power Inc. (NASDAQ:PLUG)

Sovran Advisors LLC acquired a new stake in Plug Power Inc. (NASDAQ:PLUG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,584 shares of the electronics maker’s stock, valued at approximately $127,000.

A number of other hedge funds have also recently modified their holdings of the company. Pacific Sage Partners LLC acquired a new position in Plug Power in the 4th quarter valued at about $25,000. Prio Wealth Limited Partnership purchased a new stake in shares of Plug Power during the 3rd quarter valued at approximately $29,000. Catalyst Capital Advisors LLC raised its position in shares of Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after buying an additional 5,631 shares during the period. Millburn Ridgefield Corp lifted its holdings in Plug Power by 79.9% in the third 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 last quarter. Finally, First Commonwealth Financial Corp PA purchased a new position in Plug Power in the third quarter worth approximately $29,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Wall Street Analyst Weigh In

PLUG has been the topic of a number of research analyst reports. StockNews.com upgraded Plug Power to a “sell” rating in a research report on Monday. HC Wainwright restated a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a report on Wednesday, November 13th. Evercore ISI lowered their target price on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Wednesday, November 13th. Wells Fargo & Company reduced their price target on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Finally, BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Plug Power currently has a consensus rating of “Hold” and a consensus target price of $4.12.

Plug Power Price Performance

PLUG stock opened at $1.76 on Friday. The business’s 50-day moving average is $2.29 and its two-hundred day moving average is $2.15. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The firm has a market capitalization of $1.60 billion, a P/E ratio of -0.82 and a beta of 1.79. Plug Power Inc. has a 1 year low of $1.57 and a 1 year high of $4.90.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share 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 firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same period last year, the business earned ($0.47) EPS. The firm’s revenue was down 12.6% compared to the same quarter last year. Analysts anticipate that Plug Power Inc. will post -1.21 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.