Avidian Wealth Enterprises LLC Purchases Shares of 16,440 Plug Power Inc. (NASDAQ:PLUG)

Avidian Wealth Enterprises LLC acquired a new position in shares of Plug Power Inc. (NASDAQ:PLUG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 16,440 shares of the electronics maker’s stock, valued at approximately $35,000.

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

Plug Power Price Performance

Shares of PLUG opened at $1.76 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power Inc. has a fifty-two week low of $1.57 and a fifty-two week high of $4.90. The firm has a 50-day simple moving average of $2.28 and a 200-day simple moving average of $2.15. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of -0.82 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS 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 company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same period in the prior year, the company earned ($0.47) earnings per share. The firm’s revenue was down 12.6% on a year-over-year basis. On average, equities research analysts anticipate that Plug Power Inc. will post -1.21 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PLUG has been the topic of a number of analyst reports. StockNews.com upgraded Plug Power to a “sell” rating in a research note on Monday, February 10th. Evercore ISI cut their target price on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Canaccord Genuity Group cut their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Finally, Susquehanna upped their target price on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Plug Power currently has an average rating of “Hold” and an average target price of $4.12.

Plug Power Company 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.