Capstone Investment Advisors LLC Sells 61,548 Shares of Plug Power Inc. (NASDAQ:PLUG)

Capstone Investment Advisors LLC reduced its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 47.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,597 shares of the electronics maker’s stock after selling 61,548 shares during the period. Capstone Investment Advisors LLC’s holdings in Plug Power were worth $153,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PLUG. Nations Financial Group Inc. IA ADV raised its stake in shares of Plug Power by 42.3% in 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 acquiring an additional 4,700 shares in the last quarter. Arkadios Wealth Advisors grew its holdings in Plug Power by 18.2% during the third quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock valued at $75,000 after purchasing an additional 5,075 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock valued at $1,817,000 after purchasing an additional 5,485 shares during the period. Catalyst Capital Advisors LLC lifted its stake 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 worth $29,000 after buying an additional 5,631 shares during the last quarter. Finally, 49 Wealth Management LLC boosted its holdings in shares of Plug Power by 40.6% during the 3rd quarter. 49 Wealth Management LLC now owns 23,346 shares of the electronics maker’s stock worth $53,000 after buying an additional 6,745 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

Plug Power stock opened at $2.24 on Monday. The business has a 50 day simple moving average of $2.09 and a 200 day simple moving average of $2.36. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company has a market capitalization of $2.04 billion, a PE ratio of -1.05 and a beta of 1.81. Plug Power Inc. has a one year low of $1.60 and a one year high of $5.14.

Plug Power (NASDAQ:PLUG) last issued its earnings results 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 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 quarter in the prior year, the firm posted ($0.47) EPS. The firm’s revenue for the quarter was down 12.6% on a year-over-year basis. On average, sell-side analysts forecast that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

Analyst Ratings Changes

PLUG has been the subject of a number of research analyst reports. 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. Truist Financial cut their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Royal Bank of Canada lowered their target price on Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a report on Monday, August 12th. Craig Hallum cut their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, Canaccord Genuity Group lowered their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a research note on Wednesday, November 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $4.52.

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.