IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $153,000 in Plug Power, Inc. $PLUG

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Plug Power, Inc. (NASDAQ:PLUG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 102,427 shares of the electronics maker’s stock, valued at approximately $153,000.

A number of other large investors also recently modified their holdings of the business. Baader Bank Aktiengesellschaft bought a new stake in shares of Plug Power during the first quarter valued at about $28,000. O ROURKE & COMPANY Inc bought a new stake in shares of Plug Power during the 2nd quarter worth about $30,000. Abel Hall LLC bought a new stake in shares of Plug Power during the 2nd quarter worth about $30,000. Freedom Investment Management Inc. acquired a new stake in shares of Plug Power in the 2nd quarter worth approximately $32,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Plug Power in the first quarter valued at approximately $34,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently commented on PLUG. Wells Fargo & Company boosted their target price on Plug Power from $1.00 to $1.50 and gave the stock an “equal weight” rating in a report on Thursday, August 14th. BMO Capital Markets lowered their price target on Plug Power from $1.10 to $1.00 and set an “underperform” rating on the stock in a research report on Tuesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Plug Power in a research note on Wednesday, October 8th. HC Wainwright raised their target price on Plug Power from $3.00 to $7.00 and gave the company a “buy” rating in a research note on Friday, October 3rd. Finally, Hsbc Global Res raised Plug Power to a “strong-buy” rating in a report on Thursday, October 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $2.54.

Plug Power Stock Performance

PLUG opened at $2.76 on Thursday. 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 firm has a market cap of $3.19 billion, a PE ratio of -1.19 and a beta of 2.23. The business has a fifty day simple moving average of $2.47 and a 200-day simple moving average of $1.65. Plug Power, Inc. has a fifty-two week low of $0.69 and a fifty-two week high of $4.58.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Monday, August 11th. The electronics maker reported ($0.16) EPS for the quarter, missing the consensus estimate 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 company had revenue of $173.97 million for the quarter, compared to analysts’ expectations of $157.97 million. As a group, equities analysts predict that Plug Power, Inc. will post -1.21 EPS for the current fiscal 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.