Intech Investment Management LLC Boosts Stock Position in Plug Power, Inc. $PLUG

Intech Investment Management LLC grew its stake in Plug Power, Inc. (NASDAQ:PLUG) by 69.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 396,291 shares of the electronics maker’s stock after buying an additional 162,672 shares during the quarter. Intech Investment Management LLC’s holdings in Plug Power were worth $781,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Kovack Advisors Inc. acquired a new position in shares of Plug Power in the 3rd quarter valued at about $26,000. Sender Co & Partners Inc. acquired a new position in shares of Plug Power in the 2nd quarter valued at about $26,000. Prakash Investment Advisors LLC acquired a new position in shares of Plug Power in the 3rd quarter valued at about $27,000. Procyon Advisors LLC acquired a new position in shares of Plug Power in the 4th quarter valued at about $29,000. Finally, Prime Capital Investment Advisors LLC acquired a new position in shares of Plug Power in the 3rd quarter valued at about $30,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

PLUG stock opened at $3.19 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.36 and a quick ratio of 1.40. The business has a 50 day simple moving average of $3.21 and a 200-day simple moving average of $2.52. The firm has a market capitalization of $4.45 billion, a PE ratio of -2.42 and a beta of 2.12. Plug Power, Inc. has a 1 year low of $0.99 and a 1 year high of $4.58.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Monday, May 11th. The electronics maker reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The business had revenue of $163.51 million during the quarter, compared to analyst estimates of $139.87 million. Plug Power had a negative return on equity of 49.30% and a negative net margin of 227.13%.The business’s revenue was up 22.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.21) earnings per share. Equities research analysts anticipate that Plug Power, Inc. will post -0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PLUG has been the subject of several analyst reports. Wells Fargo & Company boosted their price objective on Plug Power from $2.00 to $2.50 and gave the company an “equal weight” rating in a report on Tuesday, May 19th. HC Wainwright reissued a “buy” rating and issued a $7.00 price objective on shares of Plug Power in a report on Tuesday, March 3rd. Jefferies Financial Group decreased their price objective on Plug Power from $2.00 to $1.80 and set a “hold” rating for the company in a report on Monday, March 9th. Canaccord Genuity Group upped their price target on Plug Power from $2.50 to $4.00 and gave the stock a “hold” rating in a report on Tuesday, May 12th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of Plug Power in a report on Tuesday, March 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $3.42.

Plug Power Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.