Main Management ETF Advisors LLC Takes Position in Plug Power Inc. (NASDAQ:PLUG)

Main Management ETF Advisors LLC bought a new stake in Plug Power Inc. (NASDAQ:PLUG - Free Report) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 363,944 shares of the electronics maker's stock, valued at approximately $823,000.

A number of other large investors have also recently modified their holdings of the business. Nations Financial Group Inc. IA ADV acquired a new position in Plug Power during the 2nd quarter worth about $26,000. SteelPeak Wealth LLC acquired a new position in Plug Power during the 2nd quarter worth about $26,000. Aire Advisors LLC acquired a new position in Plug Power during the 2nd quarter worth about $28,000. Madison Park Capital Advisors LLC acquired a new position in Plug Power during the 2nd quarter worth about $29,000. Finally, Profund Advisors LLC acquired a new position in Plug Power during the 2nd quarter worth about $29,000. Institutional investors and hedge funds own 43.48% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PLUG. Royal Bank of Canada lowered their price objective 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. Craig Hallum lowered their price objective 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. Canaccord Genuity Group lowered their price objective on Plug Power from $2.50 to $2.25 and set a "hold" rating for the company in a research report on Wednesday, November 13th. BTIG Research lowered Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Finally, Susquehanna lowered their price objective on Plug Power from $3.00 to $2.00 and set a "neutral" rating for the company in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Plug Power has an average rating of "Hold" and an average target price of $4.52.

Plug Power Stock Down 2.9 %

Shares of PLUG traded down $0.07 during mid-day trading on Friday, hitting $2.38. The company's stock had a trading volume of 77,663,102 shares, compared to its average volume of 63,108,728. The company's 50-day moving average is $2.11 and its 200-day moving average is $2.32. Plug Power Inc. has a 52-week low of $1.60 and a 52-week high of $5.14. The firm has a market capitalization of $2.17 billion, a price-to-earnings 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share 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 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%. Plug Power's revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) EPS. On average, equities research analysts forecast that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

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.