Oxford Wealth Group LLC Invests $184,000 in Plug Power Inc. (NASDAQ:PLUG)

Oxford Wealth Group LLC bought a new stake in Plug Power Inc. (NASDAQ:PLUG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 53,431 shares of the electronics maker’s stock, valued at approximately $184,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLUG. Price T Rowe Associates Inc. MD lifted its stake in shares of Plug Power by 4.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 511,548 shares of the electronics maker’s stock valued at $1,760,000 after buying an additional 20,199 shares during the period. 1832 Asset Management L.P. raised its holdings in Plug Power by 29.4% in the 1st quarter. 1832 Asset Management L.P. now owns 44,000 shares of the electronics maker’s stock valued at $151,000 after acquiring an additional 10,000 shares in the last quarter. Gabelli Funds LLC lifted its position in shares of Plug Power by 42.9% in the 1st quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker’s stock worth $860,000 after acquiring an additional 75,000 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Plug Power by 11.0% during the 1st quarter. Advisors Asset Management Inc. now owns 70,442 shares of the electronics maker’s stock worth $242,000 after purchasing an additional 7,006 shares in the last quarter. Finally, Pitcairn Co. increased its position in shares of Plug Power by 27.1% during the first quarter. Pitcairn Co. now owns 19,561 shares of the electronics maker’s stock valued at $67,000 after purchasing an additional 4,169 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Wall Street Analysts Forecast Growth

PLUG has been the subject of several research reports. Canaccord Genuity Group reduced their target price on Plug Power from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Monday, May 13th. HC Wainwright reissued a “buy” rating and issued a $18.00 target price on shares of Plug Power in a report on Tuesday, May 14th. B. Riley upgraded Plug Power to a “strong-buy” rating in a research report on Tuesday, June 25th. Citigroup downgraded Plug Power from a “neutral” rating to a “sell” rating and cut their price objective for the company from $3.25 to $2.00 in a research report on Friday, April 5th. Finally, TD Cowen reduced their price objective on Plug Power from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.48.

Insider Activity

In other news, Director George C. Mcnamee sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $2.56, for a total value of $25,600.00. Following the completion of the transaction, the director now owns 639,572 shares in the company, valued at $1,637,304.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.70% of the stock is currently owned by company insiders.

Plug Power Price Performance

NASDAQ PLUG remained flat at $2.40 during trading on Tuesday. 50,491,032 shares of the company were exchanged, compared to its average volume of 40,032,953. Plug Power Inc. has a 52-week low of $2.21 and a 52-week high of $13.17. The company has a current ratio of 1.94, a quick ratio of 0.87 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of -1.00 and a beta of 1.81. The firm’s fifty day moving average is $2.78 and its 200-day moving average is $3.13.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Thursday, May 9th. The electronics maker reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.11). Plug Power had a negative net margin of 181.96% and a negative return on equity of 43.10%. The firm had revenue of $120.26 million during the quarter, compared to the consensus estimate of $162.92 million. Analysts anticipate that Plug Power Inc. will post -1.12 EPS for the current fiscal year.

About Plug Power

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.