Main Management ETF Advisors LLC Acquires New Holdings in Plug Power Inc. (NASDAQ:PLUG)

Main Management ETF Advisors LLC bought a new stake in shares of Plug Power Inc. (NASDAQ:PLUG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 363,944 shares of the electronics maker’s stock, valued at approximately $823,000.

Other large investors have also recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of Plug Power in the 3rd quarter worth approximately $2,174,000. Stifel Financial Corp increased its position in shares of Plug Power by 23.4% in the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock worth $3,160,000 after acquiring an additional 265,514 shares in the last quarter. Millburn Ridgefield Corp increased its position in shares of Plug Power by 79.9% in the third 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. Janus Henderson Group PLC boosted its holdings in shares of Plug Power by 27.7% during the third quarter. Janus Henderson Group PLC now owns 318,268 shares of the electronics maker’s stock worth $718,000 after purchasing an additional 68,968 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Plug Power by 5.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,929,676 shares of the electronics maker’s stock worth $4,361,000 after purchasing an additional 92,736 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PLUG. Jefferies Financial Group reduced their target price on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Canaccord Genuity Group reduced their target price 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. Susquehanna reduced their target price on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Royal Bank of Canada reduced their target price on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Finally, HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Plug Power has an average rating of “Hold” and an average target price of $4.52.

Plug Power Trading Down 2.9 %

Shares of PLUG stock opened at $2.38 on Friday. Plug Power Inc. has a 1 year low of $1.60 and a 1 year high of $5.14. The firm’s fifty day simple moving average is $2.11 and its 200 day simple moving average is $2.32. The firm has a market capitalization of $2.17 billion, a P/E ratio of -1.11 and a beta of 1.76. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15.

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