First Commonwealth Financial Corp PA Acquires Shares of 12,887 Plug Power Inc. (NASDAQ:PLUG)

First Commonwealth Financial Corp PA bought a new position in Plug Power Inc. (NASDAQ:PLUG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 12,887 shares of the electronics maker’s stock, valued at approximately $29,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Nations Financial Group Inc. IA ADV grew its holdings in Plug Power by 42.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock valued at $36,000 after buying an additional 4,700 shares in the last quarter. Arkadios Wealth Advisors boosted its position in shares of Plug Power by 18.2% during the 3rd quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after acquiring an additional 5,075 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares in the last quarter. 49 Wealth Management LLC increased its position in Plug Power by 40.6% in the third quarter. 49 Wealth Management LLC now owns 23,346 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 6,745 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Plug Power by 36.6% during the third quarter. Amalgamated Bank now owns 25,444 shares of the electronics maker’s stock valued at $58,000 after purchasing an additional 6,822 shares in the last quarter. Institutional investors own 43.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PLUG. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Royal Bank of Canada dropped their price target on Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Evercore ISI reduced their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 13th. Wells Fargo & Company lowered their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Finally, Craig Hallum cut their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.52.

Plug Power Stock Performance

Shares of NASDAQ:PLUG opened at $2.13 on Thursday. 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 firm has a market cap of $1.94 billion, a PE ratio of -1.00 and a beta of 1.81. The firm’s 50 day simple moving average is $2.08 and its 200-day simple moving average is $2.37. Plug Power Inc. has a one year low of $1.60 and a one year high of $5.14.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. During the same quarter in the previous year, the business earned ($0.47) earnings per share. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. As a group, equities 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.