Avidian Wealth Enterprises LLC Invests $35,000 in Plug Power Inc. (NASDAQ:PLUG)

Avidian Wealth Enterprises LLC purchased a new stake in Plug Power Inc. (NASDAQ:PLUG) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 16,440 shares of the electronics maker’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. grew its position in shares of Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after purchasing an additional 1,354,500 shares during the period. XTX Topco Ltd acquired a new stake in Plug Power in the 3rd quarter worth about $2,174,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in Plug Power by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after buying an additional 476,060 shares in the last quarter. Stifel Financial Corp raised its holdings in shares of Plug Power by 23.4% during the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock valued at $3,160,000 after acquiring an additional 265,514 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its position in shares of Plug Power by 166.4% in the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock valued at $959,000 after acquiring an additional 265,042 shares in the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Stock Performance

NASDAQ:PLUG opened at $1.76 on Friday. The stock has a market capitalization of $1.60 billion, a P/E ratio of -0.82 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. Plug Power Inc. has a fifty-two week low of $1.57 and a fifty-two week high of $4.90. The company has a 50 day moving average price of $2.28 and a 200 day moving average price of $2.15.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The firm had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same period in the previous year, the firm posted ($0.47) earnings per share. The company’s quarterly revenue was down 12.6% compared to the same quarter last year. Equities research analysts forecast that Plug Power Inc. will post -1.21 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on PLUG shares. HC Wainwright reissued a “buy” rating and issued a $18.00 price objective on shares of Plug Power in a research note on Wednesday, November 13th. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research report on Monday, February 10th. Canaccord Genuity Group dropped their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Wells Fargo & Company cut their price objective on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Finally, Craig Hallum dropped their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.12.

Plug Power 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.