QRG Capital Management Inc. Buys 6,039 Shares of Plug Power, Inc. $PLUG

QRG Capital Management Inc. grew its stake in Plug Power, Inc. (NASDAQ:PLUG) by 31.8% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,014 shares of the electronics maker’s stock after purchasing an additional 6,039 shares during the quarter. QRG Capital Management Inc.’s holdings in Plug Power were worth $37,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. O ROURKE & COMPANY Inc bought a new position in shares of Plug Power in the second quarter valued at approximately $30,000. Lazari Capital Management Inc. lifted its holdings in shares of Plug Power by 49.2% in the second quarter. Lazari Capital Management Inc. now owns 36,798 shares of the electronics maker’s stock valued at $55,000 after purchasing an additional 12,141 shares in the last quarter. MinichMacGregor Wealth Management LLC lifted its holdings in shares of Plug Power by 334.9% in the second quarter. MinichMacGregor Wealth Management LLC now owns 55,243 shares of the electronics maker’s stock valued at $82,000 after purchasing an additional 42,540 shares in the last quarter. CX Institutional lifted its holdings in shares of Plug Power by 2,039.8% in the second quarter. CX Institutional now owns 41,961 shares of the electronics maker’s stock valued at $63,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Brave Asset Management Inc. lifted its holdings in shares of Plug Power by 603.8% in the second quarter. Brave Asset Management Inc. now owns 140,400 shares of the electronics maker’s stock valued at $209,000 after purchasing an additional 120,450 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Plug Power Trading Down 9.5%

Shares of PLUG stock opened at $3.42 on Monday. 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 business has a 50-day moving average price of $2.03 and a two-hundred day moving average price of $1.47. Plug Power, Inc. has a 12-month low of $0.69 and a 12-month high of $4.58. The firm has a market cap of $3.95 billion, a P/E ratio of -1.48 and a beta of 2.23.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Evercore ISI upgraded Plug Power to a “strong sell” rating in a report on Tuesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Plug Power in a report on Wednesday, October 8th. Susquehanna raised their target price on 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 stock a “hold” rating in a research report on Wednesday, July 23rd. Finally, Wells Fargo & Company lifted their price target on Plug Power from $1.00 to $1.50 and gave the company an “equal weight” rating in a research report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat, Plug Power currently has an average rating of “Hold” and a consensus target price of $2.35.

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.