Tidal Investments LLC Has $1.10 Million Position in Plug Power Inc. (NASDAQ:PLUG)

Tidal Investments LLC trimmed its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 3.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 485,170 shares of the electronics maker’s stock after selling 16,369 shares during the quarter. Tidal Investments LLC’s holdings in Plug Power were worth $1,096,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in shares of Plug Power in the 3rd quarter valued at about $206,000. Arete Wealth Advisors LLC increased its position in Plug Power by 575.8% during the 3rd quarter. Arete Wealth Advisors LLC now owns 147,117 shares of the electronics maker’s stock valued at $332,000 after purchasing an additional 125,347 shares during the period. Geode Capital Management LLC raised its holdings in Plug Power by 23.6% during the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after purchasing an additional 3,662,456 shares during the last quarter. Duff & Phelps Investment Management Co. lifted its position in shares of Plug Power by 31.7% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 75,160 shares of the electronics maker’s stock worth $170,000 after purchasing an additional 18,110 shares during the period. Finally, Main Management ETF Advisors LLC bought a new stake in shares of Plug Power in the 3rd quarter valued at $823,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Craig Hallum cut their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, November 14th. Wells Fargo & Company lowered their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. Evercore ISI decreased their price objective on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Canaccord Genuity Group dropped their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th. Finally, BTIG Research cut Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and a consensus price target of $4.52.

Plug Power Stock Up 3.6 %

Shares of NASDAQ:PLUG opened at $2.30 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. 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 $2.10 billion, a P/E ratio of -1.07 and a beta of 1.76. The stock has a 50 day moving average price of $2.17 and a 200-day moving average price of $2.28.

Plug Power (NASDAQ:PLUG) last announced 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). The firm had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.47) EPS. As a group, equities research analysts anticipate that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

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.