Raymond James & Associates decreased its position in shares of Plug Power Inc. (NASDAQ:PLUG – Free Report) by 11.6% in the 4th quarter, Holdings Channel reports. The fund owned 73,781 shares of the electronics maker’s stock after selling 9,652 shares during the quarter. Raymond James & Associates’ holdings in Plug Power were worth $332,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its stake in shares of 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 acquiring an additional 1,510 shares during the period. Compagnie Lombard Odier SCmA grew its stake in shares of Plug Power by 6.2% during the 3rd quarter. Compagnie Lombard Odier SCmA now owns 29,950 shares of the electronics maker’s stock worth $228,000 after acquiring an additional 1,750 shares during the period. Financial Advocates Investment Management grew its stake in shares of Plug Power by 10.6% during the 3rd quarter. Financial Advocates Investment Management now owns 20,840 shares of the electronics maker’s stock worth $158,000 after acquiring an additional 1,992 shares during the period. Principal Financial Group Inc. grew its stake in shares of Plug Power by 5.5% during the 3rd quarter. Principal Financial Group Inc. now owns 40,818 shares of the electronics maker’s stock worth $310,000 after acquiring an additional 2,124 shares during the period. Finally, Byrne Asset Management LLC grew its stake in shares of Plug Power by 17.1% during the 3rd quarter. Byrne Asset Management LLC now owns 16,415 shares of the electronics maker’s stock worth $125,000 after acquiring an additional 2,400 shares during the period. Institutional investors own 43.48% of the company’s stock.
Plug Power Stock Performance
Shares of NASDAQ PLUG opened at $2.41 on Monday. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of -1.05 and a beta of 1.54. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. Plug Power Inc. has a 1-year low of $2.25 and a 1-year high of $13.44. The stock’s 50-day moving average is $3.25 and its 200 day moving average is $4.11.
Analyst Ratings Changes
PLUG has been the topic of a number of recent research reports. Redburn Atlantic initiated coverage on Plug Power in a report on Tuesday, February 6th. They set a “neutral” rating and a $4.50 price objective on the stock. UBS Group cut Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price objective on the stock. in a report on Tuesday, February 6th. Royal Bank of Canada dropped their price objective on Plug Power from $5.00 to $3.50 and set a “sector perform” rating on the stock in a report on Wednesday, January 24th. BMO Capital Markets cut Plug Power from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $3.50 to $2.50 in a report on Wednesday, January 24th. Finally, B. Riley dropped their price objective on Plug Power from $18.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, January 24th. 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. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $6.05.
Check Out Our Latest Analysis on PLUG
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.
Read More
- Five stocks we like better than Plug Power
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Snap Crackles and Pops on Surprise Profit and Raised Guidance
- What is a Secondary Public Offering? What Investors Need to Know
- MarketBeat Week in Review – 4/22 – 4/26
- The Top 3 Healthcare Dividend Stocks to Buy and Hold
- 3 Stocks Leading the U.S. Agriculture Comeback
Want to see what other hedge funds are holding PLUG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plug Power Inc. (NASDAQ:PLUG – Free Report).
Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.