Stratos Wealth Partners LTD. Increases Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Stratos Wealth Partners LTD. boosted its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 17.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,635 shares of the electronics maker’s stock after acquiring an additional 3,832 shares during the period. Stratos Wealth Partners LTD.’s holdings in Plug Power were worth $115,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its position in Plug Power by 3.0% during the first quarter. BlackRock Inc. now owns 52,381,858 shares of the electronics maker’s stock valued at $613,915,000 after acquiring an additional 1,534,756 shares during the last quarter. Morgan Stanley lifted its position in Plug Power by 87.2% during the third quarter. Morgan Stanley now owns 22,285,344 shares of the electronics maker’s stock valued at $169,369,000 after acquiring an additional 10,378,912 shares during the last quarter. Norges Bank purchased a new position in shares of Plug Power in the fourth quarter worth $211,176,000. State Street Corp raised its holdings in shares of Plug Power by 4.7% in the second quarter. State Street Corp now owns 16,121,043 shares of the electronics maker’s stock worth $167,498,000 after buying an additional 718,729 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Plug Power by 3.7% in the first quarter. Geode Capital Management LLC now owns 7,915,781 shares of the electronics maker’s stock worth $92,644,000 after buying an additional 282,615 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PLUG shares. Craig Hallum decreased their price target on shares of Plug Power from $6.00 to $5.00 and set a “buy” rating for the company in a report on Monday, March 4th. Roth Mkm raised shares of Plug Power from a “neutral” rating to a “buy” rating and raised their price target for the stock from $4.50 to $9.00 in a report on Wednesday, January 31st. Marathon Capitl reiterated an “equal weight” rating on shares of Plug Power in a research note on Tuesday, March 26th. Seaport Res Ptn lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 6th. Finally, Canaccord Genuity Group cut their price objective on shares of Plug Power from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Monday, March 4th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $6.05.

Plug Power Stock Up 1.1 %

PLUG stock opened at $2.73 on Thursday. The firm’s fifty day moving average is $3.49 and its 200 day moving average is $4.34. Plug Power Inc. has a one year low of $2.26 and a one year high of $13.44. The firm has a market cap of $1.87 billion, a PE ratio of -1.19 and a beta of 1.54. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.86 and a current ratio of 1.85.

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

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.