Cowa LLC Buys New Holdings in Plug Power Inc. (NASDAQ:PLUG)

Cowa LLC bought a new stake in Plug Power Inc. (NASDAQ:PLUGGet Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 10,745 shares of the electronics maker’s stock, valued at approximately $226,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PLUG. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in Plug Power by 124.2% during the 3rd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,518 shares of the electronics maker’s stock valued at $31,000 after purchasing an additional 841 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Plug Power during the 2nd quarter valued at about $27,000. Sandy Spring Bank boosted its stake in Plug Power by 3,363.6% during the 2nd quarter. Sandy Spring Bank now owns 1,905 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 1,850 shares during the last quarter. Castleview Partners LLC boosted its stake in Plug Power by 1,556.9% during the 2nd quarter. Castleview Partners LLC now owns 2,038 shares of the electronics maker’s stock valued at $123,000 after purchasing an additional 1,915 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Plug Power by 77.5% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,165 shares of the electronics maker’s stock valued at $45,000 after purchasing an additional 945 shares during the last quarter. 52.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company cut their target price on Plug Power from $18.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Friday, January 6th. Citigroup boosted their target price on Plug Power from $20.00 to $21.00 in a research note on Thursday, December 15th. Cowen cut their target price on Plug Power from $33.00 to $30.00 in a research note on Wednesday, November 9th. JPMorgan Chase & Co. cut their target price on Plug Power from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, October 13th. Finally, Morgan Stanley cut their target price on Plug Power from $48.00 to $35.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 10th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $26.17.

Plug Power Trading Down 2.2 %

NASDAQ PLUG opened at $16.37 on Wednesday. The stock has a market cap of $9.54 billion, a P/E ratio of -13.95 and a beta of 1.63. Plug Power Inc. has a fifty-two week low of $11.49 and a fifty-two week high of $32.05. The stock has a 50 day simple moving average of $14.52 and a two-hundred day simple moving average of $19.36. The company has a debt-to-equity ratio of 0.13, a quick ratio of 5.23 and a current ratio of 6.09.

Plug Power (NASDAQ:PLUGGet Rating) last announced its quarterly earnings results on Tuesday, November 8th. The electronics maker reported ($0.30) EPS for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The business had revenue of $188.63 million during the quarter, compared to analysts’ expectations of $239.94 million. Plug Power had a negative return on equity of 15.56% and a negative net margin of 107.91%. On average, analysts forecast that Plug Power Inc. will post -1.09 earnings per share for the current year.

Plug Power Company Profile

(Get Rating)

Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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