GSA Capital Partners LLP Cuts Stake in Plug Power Inc. (NASDAQ:PLUG)

GSA Capital Partners LLP trimmed its holdings in shares of Plug Power Inc. (NASDAQ:PLUG) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,924 shares of the electronics maker’s stock after selling 2,422 shares during the quarter. GSA Capital Partners LLP’s holdings in Plug Power were worth $267,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PLUG. Proffitt & Goodson Inc. purchased a new stake in shares of Plug Power during the third quarter worth about $25,000. Clear Harbor Asset Management LLC purchased a new stake in shares of Plug Power during the third quarter worth about $27,000. Creative Financial Designs Inc. ADV increased its position in shares of Plug Power by 106.8% during the second quarter. Creative Financial Designs Inc. ADV now owns 4,550 shares of the electronics maker’s stock worth $37,000 after acquiring an additional 2,350 shares during the last quarter. Captrust Financial Advisors purchased a new stake in shares of Plug Power during the second quarter worth about $38,000. Finally, Petix & Botte Co purchased a new stake in shares of Plug Power during the second quarter worth about $41,000. 44.56% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on PLUG shares. Roth Capital lifted their target price on Plug Power from $14.00 to $22.00 and gave the stock a “buy” rating in a research report on Tuesday, November 10th. B. Riley lifted their price target on Plug Power from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, November 10th. Barclays lifted their price target on Plug Power from $12.00 to $13.00 and gave the stock an “equal weight” rating in a research note on Friday, September 25th. Oppenheimer lifted their price target on Plug Power from $13.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 10th. Finally, HC Wainwright lifted their price target on Plug Power from $14.00 to $30.00 and gave the stock a “buy” rating in a research note on Tuesday, November 10th. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $22.13.

Shares of PLUG stock opened at $24.36 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.89 and a debt-to-equity ratio of 2.27. The business has a 50 day moving average of $17.65 and a two-hundred day moving average of $10.81. Plug Power Inc. has a 52 week low of $2.53 and a 52 week high of $25.49. The company has a market cap of $10.12 billion, a P/E ratio of -78.58 and a beta of 1.31.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Monday, November 9th. The electronics maker reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.04). Plug Power had a negative net margin of 33.33% and a negative return on equity of 70.36%. The company had revenue of $107.00 million during the quarter, compared to analyst estimates of $105.76 million. During the same quarter in the previous year, the firm earned ($0.09) earnings per share. The business’s revenue was up 89.4% on a year-over-year basis. Analysts expect that Plug Power Inc. will post -0.27 EPS for the current fiscal year.

In other news, Director Fivet Capital Holding Ag sold 1,915,034 shares of Plug Power stock in a transaction that occurred on Friday, November 13th. The stock was sold at an average price of $23.11, for a total transaction of $44,256,435.74. Following the sale, the director now owns 227,112 shares of the company’s stock, valued at $5,248,558.32. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Gerard L. Conway, Jr. sold 35,352 shares of Plug Power stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $11.90, for a total value of $420,688.80. Following the sale, the senior vice president now directly owns 10,519 shares in the company, valued at approximately $125,176.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,950,047 shares of company stock valued at $76,484,411. 4.50% of the stock is currently owned by insiders.

Plug Power Profile

Plug Power Inc provides hydrogen fuel cell turnkey solutions for the electric mobility and stationary power markets in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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