Schonfeld Strategic Advisors LLC Makes New Investment in Plug Power Inc. (NASDAQ:PLUG)

Schonfeld Strategic Advisors LLC bought a new position in Plug Power Inc. (NASDAQ:PLUG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 35,622 shares of the electronics maker’s stock, valued at approximately $76,000.

A number of other institutional investors also recently modified their holdings of PLUG. Arkadios Wealth Advisors raised its stake in shares of Plug Power by 88.0% in the fourth quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker’s stock worth $132,000 after acquiring an additional 29,062 shares during the last quarter. ACT Wealth Management LLC raised its stake in shares of Plug Power by 71.4% in the fourth quarter. ACT Wealth Management LLC now owns 24,000 shares of the electronics maker’s stock worth $51,000 after acquiring an additional 10,000 shares during the last quarter. Sustainable Insight Capital Management LLC bought a new position in shares of Plug Power in the fourth quarter worth about $79,000. PFG Investments LLC raised its stake in shares of Plug Power by 16.8% in the fourth quarter. PFG Investments LLC now owns 467,836 shares of the electronics maker’s stock worth $996,000 after acquiring an additional 67,251 shares during the last quarter. Finally, Swedbank AB raised its stake in shares of Plug Power by 39.7% in the fourth quarter. Swedbank AB now owns 235,233 shares of the electronics maker’s stock worth $501,000 after acquiring an additional 66,844 shares during the last quarter. 43.48% of the stock is owned by institutional investors.

Plug Power Trading Down 3.3%

PLUG opened at $0.79 on Thursday. The firm’s fifty day moving average is $1.17 and its two-hundred day moving average is $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. The firm has a market cap of $803.30 million, a PE ratio of -0.37 and a beta of 2.19. Plug Power Inc. has a twelve month low of $0.76 and a twelve month high of $3.75.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Monday, May 12th. The electronics maker reported ($0.21) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.01). The firm had revenue of $133.67 million during the quarter, compared to analyst estimates of $130.92 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. Equities research analysts anticipate that Plug Power Inc. will post -1.21 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Plug Power to a “sell” rating in a research note on Tuesday. B. Riley dropped their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Roth Capital reissued a “buy” rating on shares of Plug Power in a research note on Tuesday. Morgan Stanley dropped their price target on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a research note on Thursday, March 6th. Finally, Canaccord Genuity Group dropped their price target on shares of Plug Power from $1.25 to $1.00 and set a “hold” rating for the company in a research note on Tuesday. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $1.99.

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.