Compass Financial Management LLC Buys Shares of 236,778 Plug Power, Inc. $PLUG

Compass Financial Management LLC bought a new position in Plug Power, Inc. (NASDAQ:PLUG) in the 2nd quarter, Holdings Channel.com reports. The fund bought 236,778 shares of the electronics maker’s stock, valued at approximately $641,000.

Several other hedge funds also recently modified their holdings of the business. Wealthfront Advisers LLC raised its holdings in shares of Plug Power by 19.0% during the 2nd quarter. Wealthfront Advisers LLC now owns 82,927 shares of the electronics maker’s stock valued at $225,000 after purchasing an additional 13,218 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Plug Power by 21.0% in the 2nd quarter. BlackRock Inc. now owns 184,032,469 shares of the electronics maker’s stock valued at $498,728,000 after purchasing an additional 31,939,194 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Plug Power by 50.7% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,223,498 shares of the electronics maker’s stock worth $3,316,000 after purchasing an additional 411,558 shares in the last quarter. AMG National Trust Bank bought a new stake in Plug Power in the second quarter worth $330,000. Finally, Global Retirement Partners LLC acquired a new position in Plug Power during the second quarter worth $73,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Performance

NASDAQ:PLUG opened at $2.27 on Monday. Plug Power, Inc. has a 1 year low of $1.41 and a 1 year high of $4.58. The firm’s fifty day simple moving average is $2.35 and its 200 day simple moving average is $2.59. The company has a current ratio of 2.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $3.17 billion, a PE ratio of -1.80 and a beta of 2.20.

Plug Power (NASDAQ:PLUG) last announced its earnings results on Monday, August 10th. The electronics maker reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.01. The firm had revenue of $178.30 million for the quarter, compared to the consensus estimate of $169.11 million. Plug Power had a negative net margin of 220.59% and a negative return on equity of 56.01%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Plug Power, Inc. will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

PLUG has been the topic of several recent research reports. Roth Capital restated a “buy” rating and set a $5.00 target price (up from $3.50) on shares of Plug Power in a report on Wednesday, August 12th. Susquehanna decreased their price target on Plug Power from $3.75 to $2.50 and set a “neutral” rating for the company in a research note on Friday, July 10th. Craig Hallum reissued a “buy” rating on shares of Plug Power in a report on Tuesday, August 11th. Canaccord Genuity Group raised their price objective on Plug Power from $2.50 to $4.00 and gave the company a “hold” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered Plug Power from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $3.59.

Plug Power Profile

Plug Power Inc is a U.S.-based company specializing in the design and manufacture of hydrogen fuel cell systems that serve as clean energy replacements for conventional batteries in electric vehicles and material handling equipment. Its core solutions include ProGen fuel cell engines, GenDrive power systems for forklifts and warehouse vehicles, and GenFuel hydrogen refueling infrastructure. These offerings are sold as standalone components or integrated turnkey solutions under the GenKey brand, providing customers with on-site refueling, equipment installation and maintenance services.

In addition to its fuel cell and refueling products, Plug Power develops backup power and off-grid energy solutions through its GenSure line, which targets telecommunications, data centers and utility applications.