Kieckhefer Group LLC Invests $138,000 in Plug Power Inc. (NASDAQ:PLUG)

Kieckhefer Group 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 SEC. The institutional investor bought 65,000 shares of the electronics maker’s stock, valued at approximately $138,000.

Other institutional investors have also bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Plug Power by 45.1% during the 2nd quarter. Principal Financial Group Inc. now owns 63,780 shares of the electronics maker’s stock valued at $149,000 after purchasing an additional 19,824 shares during the period. Commonwealth Equity Services LLC grew its holdings in Plug Power by 8.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 356,973 shares of the electronics maker’s stock valued at $832,000 after buying an additional 29,134 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Plug Power by 97.2% in the second quarter. Rhumbline Advisers now owns 1,296,047 shares of the electronics maker’s stock worth $3,020,000 after buying an additional 638,761 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Plug Power by 8.6% during the second quarter. Victory Capital Management Inc. now owns 88,102 shares of the electronics maker’s stock worth $205,000 after acquiring an additional 7,014 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Plug Power by 21.5% during the second quarter. Arizona State Retirement System now owns 181,982 shares of the electronics maker’s stock worth $424,000 after acquiring an additional 32,217 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PLUG has been the subject of a number of research analyst reports. Evercore ISI cut their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. Wells Fargo & Company decreased their price target on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. Piper Sandler dropped 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 note on Thursday, November 14th. BTIG Research downgraded shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Finally, Canaccord Genuity Group dropped their price target on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Four equities 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 company. According to MarketBeat, Plug Power has an average rating of “Hold” and a consensus target price of $4.52.

Plug Power Stock Down 4.9 %

Shares of Plug Power stock traded down $0.14 on Monday, reaching $2.73. The stock had a trading volume of 35,400,386 shares, compared to its average volume of 83,252,117. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $2.49 billion, a P/E ratio of -1.28 and a beta of 1.79. The company has a 50 day moving average price of $2.30 and a 200 day moving average price of $2.24. Plug Power Inc. has a 1 year low of $1.60 and a 1 year high of $5.14.

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

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.