Carr Financial Group Corp Makes New $53,000 Investment in Plug Power, Inc. $PLUG

Carr Financial Group Corp purchased a new position in Plug Power, Inc. (NASDAQ:PLUG) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 35,722 shares of the electronics maker’s stock, valued at approximately $53,000.

A number of other hedge funds have also bought and sold shares of the company. Congress Park Capital LLC grew its stake in shares of Plug Power by 52.8% during the second quarter. Congress Park Capital LLC now owns 59,350 shares of the electronics maker’s stock valued at $88,000 after buying an additional 20,500 shares during the last quarter. CX Institutional increased its holdings in shares of Plug Power by 2,039.8% in the 2nd quarter. CX Institutional now owns 41,961 shares of the electronics maker’s stock valued at $63,000 after acquiring an additional 40,000 shares during the period. Mandatum Life Insurance Co Ltd grew its stake in Plug Power by 17.6% in the second quarter. Mandatum Life Insurance Co Ltd now owns 48,887 shares of the electronics maker’s stock valued at $73,000 after purchasing an additional 7,300 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its position in Plug Power by 3,034.2% during the second quarter. Baader Bank Aktiengesellschaft now owns 652,950 shares of the electronics maker’s stock valued at $973,000 after acquiring an additional 632,117 shares during the last quarter. Finally, Sovran Advisors LLC increased its position in shares of Plug Power by 61.7% during the second quarter. Sovran Advisors LLC now owns 114,998 shares of the electronics maker’s stock worth $163,000 after purchasing an additional 43,871 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PLUG shares. Evercore ISI upgraded shares of Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Susquehanna upped their price objective on shares of Plug Power from $1.00 to $1.80 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Jefferies Financial Group raised their target price on Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a research report on Wednesday, July 23rd. BMO Capital Markets cut their price target on Plug Power from $1.10 to $1.00 and set an “underperform” rating for the company in a research note on Tuesday, August 12th. Finally, Wells Fargo & Company increased their price target on Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 14th. Four analysts have rated the stock with a Buy rating, seven have issued a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $1.88.

Plug Power Trading Down 4.5%

NASDAQ PLUG opened at $2.53 on Wednesday. The firm’s 50-day moving average is $1.66 and its two-hundred day moving average is $1.33. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.59 and a quick ratio of 0.82. Plug Power, Inc. has a 12 month low of $0.69 and a 12 month high of $3.32. The stock has a market capitalization of $2.92 billion, a P/E ratio of -1.10 and a beta of 2.09.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Monday, August 11th. The electronics maker reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.01). Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. The firm had revenue of $173.97 million during the quarter, compared to analysts’ expectations of $157.97 million. On average, sell-side analysts anticipate that Plug Power, Inc. will post -1.21 earnings per share for the current year.

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.