ACT Wealth Management LLC Acquires 10,000 Shares of Plug Power Inc. (NASDAQ:PLUG)

ACT Wealth Management LLC grew its holdings in shares of Plug Power Inc. (NASDAQ:PLUG) by 71.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 24,000 shares of the electronics maker’s stock after purchasing an additional 10,000 shares during the quarter. ACT Wealth Management LLC’s holdings in Plug Power were worth $51,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PLUG. Profund Advisors LLC bought a new position in shares of Plug Power in the second quarter valued at approximately $29,000. Prio Wealth Limited Partnership bought a new position in Plug Power during the 3rd quarter valued at $29,000. Catalyst Capital Advisors LLC lifted its stake in Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after acquiring an additional 5,631 shares in the last quarter. Millburn Ridgefield Corp grew its stake in shares of Plug Power by 79.9% in the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares in the last quarter. Finally, First Commonwealth Financial Corp PA purchased a new stake in shares of Plug Power in the third quarter valued at about $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Down 9.8 %

Plug Power stock opened at $2.20 on Wednesday. The stock has a market cap of $2.00 billion, a PE ratio of -1.03 and a beta of 1.79. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a fifty day moving average of $2.35 and a 200 day moving average of $2.25. Plug Power Inc. has a one year low of $1.60 and a one year high of $5.14.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $173.70 million during the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.47) EPS. As a group, sell-side analysts predict that Plug Power Inc. will post -1.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PLUG. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Wells Fargo & Company lowered their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. Piper Sandler reduced their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. Craig Hallum lowered their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Plug Power in a research report on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.55.

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.