Brave Asset Management Inc. Grows Stake in Plug Power, Inc. $PLUG

Brave Asset Management Inc. lifted its holdings in shares of Plug Power, Inc. (NASDAQ:PLUG) by 603.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 140,400 shares of the electronics maker’s stock after acquiring an additional 120,450 shares during the period. Brave Asset Management Inc.’s holdings in Plug Power were worth $209,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PLUG. Miracle Mile Advisors LLC purchased a new position in Plug Power in the first quarter valued at approximately $26,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Plug Power in the 1st quarter valued at $28,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Plug Power in the 1st quarter valued at $34,000. JNBA Financial Advisors purchased a new position in shares of Plug Power in the 1st quarter valued at $37,000. Finally, Focus Partners Wealth acquired a new stake in Plug Power during the 1st quarter worth $37,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PLUG has been the topic of several research reports. Susquehanna raised their price objective on Plug Power from $1.00 to $1.80 and gave the stock a “neutral” rating in a report on Monday, July 21st. BMO Capital Markets dropped their price target on Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a research note on Tuesday, August 12th. Wells Fargo & Company lifted 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. Evercore ISI raised Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Finally, Jefferies Financial Group raised their target price on shares of Plug Power from $0.90 to $1.60 and gave the stock a “hold” rating in a research report on Wednesday, July 23rd. Four research analysts have rated the stock with a Buy rating, seven have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $1.88.

Plug Power Stock Down 1.7%

PLUG opened at $2.36 on Friday. Plug Power, Inc. has a 52 week low of $0.69 and a 52 week high of $3.32. The business has a 50 day moving average price of $1.69 and a two-hundred day moving average price of $1.34. The company has a quick ratio of 0.82, a current ratio of 1.59 and a debt-to-equity ratio of 0.22. The company has a market cap of $2.73 billion, a PE ratio of -1.02 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 for the quarter, missing the consensus estimate of ($0.15) by ($0.01). The company had revenue of $173.97 million during the quarter, compared to analysts’ expectations of $157.97 million. Plug Power had a negative net margin of 292.84% and a negative return on equity of 90.22%. As a group, research analysts anticipate that Plug Power, Inc. will post -1.21 EPS for the current year.

About Plug Power

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.