Plug Power Inc. (NASDAQ:PLUG) Shares Sold by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 21.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 154,035 shares of the electronics maker’s stock after selling 42,523 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Plug Power were worth $693,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PLUG. Millburn Ridgefield Corp acquired a new stake in Plug Power during the 3rd quarter worth approximately $29,000. ICA Group Wealth Management LLC acquired a new stake in Plug Power during the 4th quarter worth approximately $35,000. Strategic Investment Solutions Inc. IL acquired a new stake in Plug Power during the 1st quarter worth approximately $41,000. Exchange Traded Concepts LLC increased its position in Plug Power by 30.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,486 shares of the electronics maker’s stock worth $49,000 after purchasing an additional 1,510 shares in the last quarter. Finally, First Affirmative Financial Network acquired a new stake in Plug Power in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $2.73 on Thursday. Plug Power Inc. has a 1-year low of $2.26 and a 1-year high of $13.44. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.85 and a quick ratio of 0.86. The business’s fifty day moving average price is $3.49 and its two-hundred day moving average price is $4.34. The firm has a market capitalization of $1.87 billion, a PE ratio of -1.19 and a beta of 1.54.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.52). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The company had revenue of $222.20 million during the quarter, compared to analyst estimates of $234.21 million. During the same period in the prior year, the business earned ($0.38) earnings per share. Plug Power’s quarterly revenue was up .7% on a year-over-year basis. On average, research analysts expect that Plug Power Inc. will post -0.95 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PLUG shares. Roth Mkm raised shares of Plug Power from a “neutral” rating to a “buy” rating and increased their price objective for the company from $4.50 to $9.00 in a research report on Wednesday, January 31st. Roth Capital raised shares of Plug Power from a “neutral” rating to a “buy” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Monday, March 4th. HSBC lowered their price objective on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, Redburn Atlantic began coverage on shares of Plug Power in a research report on Tuesday, February 6th. They issued a “neutral” rating and a $4.50 price objective for the company. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.05.

Plug Power Company 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.