Atom Investors LP purchased a new stake in shares of Plug Power Inc (NASDAQ:PLUG) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 488,054 shares of the electronics maker’s stock, valued at approximately $4,007,000. Atom Investors LP owned approximately 0.13% of Plug Power as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Plug Power by 7.6% during the second quarter. Vanguard Group Inc. now owns 16,280,446 shares of the electronics maker’s stock valued at $133,663,000 after purchasing an additional 1,148,302 shares during the last quarter. Cipher Capital LP lifted its position in shares of Plug Power by 74.2% during the 2nd quarter. Cipher Capital LP now owns 26,468 shares of the electronics maker’s stock valued at $217,000 after acquiring an additional 11,276 shares during the last quarter. Advisory Research Inc. boosted its stake in shares of Plug Power by 37.3% during the 2nd quarter. Advisory Research Inc. now owns 525,657 shares of the electronics maker’s stock worth $4,316,000 after acquiring an additional 142,681 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Plug Power in the 2nd quarter worth $771,000. Finally, Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Plug Power in the 2nd quarter worth $71,000. Institutional investors own 44.56% of the company’s stock.
In other Plug Power news, CEO Andrew Marsh sold 961,059 shares of the firm’s stock in a transaction dated Wednesday, June 24th. The stock was sold at an average price of $7.30, for a total transaction of $7,015,730.70. Following the transaction, the chief executive officer now directly owns 254,978 shares in the company, valued at $1,861,339.40. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Martin Daniel Hull sold 66,667 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $10.00, for a total value of $666,670.00. Following the completion of the sale, the chief accounting officer now directly owns 75,503 shares of the company’s stock, valued at approximately $755,030. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,316,007 shares of company stock worth $37,163,694. Insiders own 4.50% of the company’s stock.
Shares of NASDAQ PLUG traded up $0.21 during mid-day trading on Friday, reaching $11.76. The company had a trading volume of 34,165,863 shares, compared to its average volume of 31,900,880. The company has a debt-to-equity ratio of 2.27, a quick ratio of 1.34 and a current ratio of 1.89. Plug Power Inc has a twelve month low of $2.16 and a twelve month high of $14.35. The stock’s 50 day moving average is $10.63 and its 200-day moving average is $6.31. The stock has a market capitalization of $4.72 billion, a PE ratio of -37.93 and a beta of 1.31.
Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, August 6th. The electronics maker reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.07. The firm had revenue of $68.07 million for the quarter, compared to the consensus estimate of $56.51 million. Plug Power had a negative return on equity of 70.36% and a negative net margin of 33.33%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. On average, sell-side analysts anticipate that Plug Power Inc will post -0.29 EPS for the current year.
A number of equities analysts recently weighed in on the company. Odeon Capital Group started coverage on Plug Power in a research report on Tuesday, August 18th. They issued a “buy” rating for the company. BidaskClub upgraded shares of Plug Power from a “buy” rating to a “strong-buy” rating in a report on Wednesday, August 19th. HC Wainwright restated a “buy” rating and set a $14.00 price target on shares of Plug Power in a report on Thursday, July 16th. Barclays lowered shares of Plug Power from an “overweight” rating to an “equal weight” rating and set a $10.00 price objective for the company. in a research note on Thursday, July 9th. They noted that the move was a valuation call. Finally, B. Riley boosted their target price on shares of Plug Power from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a sell rating, two have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $8.28.
About Plug Power
Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.
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