Trading Report: The IFC Holdings Incorporated FL invests in Plug Power Inc. (PLUG) Shares

The IFC Holdings Incorporated FL invests in Plug Power Inc. (PLUG) Shares

IFC Holdings Incorporated FL boosted its stake in Plug Power Inc. (NASDAQ:PLUG) by 167.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 101,506 shares of the company’s stock after buying an additional 63,506 shares during the period. IFC Holdings Incorporated FL’s holdings in Plug Power were worth $192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PLUG. Creative Planning boosted its position in shares of Plug Power by 35.4% in the second quarter. Creative Planning now owns 56,200 shares of the company’s stock valued at $105,000 after buying an additional 14,700 shares during the last quarter. Mount Lucas Management LP boosted its position in shares of Plug Power by 3.3% in the first quarter. Mount Lucas Management LP now owns 165,200 shares of the company’s stock valued at $339,000 after buying an additional 5,200 shares during the last quarter. California State Teachers Retirement System boosted its position in shares of Plug Power by 3.1% in the second quarter. California State Teachers Retirement System now owns 378,769 shares of the company’s stock valued at $705,000 after buying an additional 11,429 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Plug Power by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 671,990 shares of the company’s stock valued at $1,250,000 after buying an additional 43,385 shares during the last quarter. Hedge funds and other institutional investors own 18.19% of the company’s stock.

Shares of Plug Power Inc. (NASDAQ:PLUG) traded up 1.28% during mid-day trading on Friday, reaching $1.58. The company’s stock had a trading volume of 657,217 shares. The company’s market capitalization is $284.92 billion. The company’s 50 day moving average price is $1.60 and its 200-day moving average price is $1.75. Plug Power Inc. has a 1-year low of $1.30 and a 1-year high of $2.98.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $20.50 million for the quarter, compared to analyst estimates of $25.32 million. Plug Power had a negative return on equity of 30.92% and a negative net margin of 57.17%. The company’s revenue was down 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.06) earnings per share. Analysts predict that Plug Power Inc. will post ($0.24) earnings per share for the current fiscal year.

Several research firms recently commented on PLUG. Zacks Investment Research raised Plug Power from a “sell” rating to a “hold” rating in a report on Friday, July 8th. Roth Capital raised their target price on Plug Power from $1.75 to $2.00 and gave the stock a “neutral” rating in a report on Monday, August 15th. Finally, FBR & Co reaffirmed a “buy” rating and set a $3.00 target price on shares of Plug Power in a report on Tuesday, July 12th.

About Plug Power

Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.

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