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

Stratos Wealth Partners LTD. boosted its stake in Plug Power Inc. (NASDAQ:PLUG) by 17.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,635 shares of the electronics maker’s stock after buying an additional 3,832 shares during the period. Stratos Wealth Partners LTD.’s holdings in Plug Power were worth $115,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Natixis Advisors L.P. lifted its holdings in shares of Plug Power by 0.9% during the second quarter. Natixis Advisors L.P. now owns 79,424 shares of the electronics maker’s stock valued at $1,316,000 after purchasing an additional 723 shares during the last quarter. US Bancorp DE lifted its holdings in shares of Plug Power by 7.9% during the first quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock valued at $324,000 after purchasing an additional 833 shares during the last quarter. Ethic Inc. lifted its holdings in shares of Plug Power by 8.2% during the first quarter. Ethic Inc. now owns 12,098 shares of the electronics maker’s stock valued at $346,000 after purchasing an additional 914 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Plug Power by 12.6% during the first quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock valued at $238,000 after purchasing an additional 934 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Plug Power by 7.3% during the first quarter. Neuberger Berman Group LLC now owns 13,972 shares of the electronics maker’s stock valued at $400,000 after purchasing an additional 946 shares during the last quarter. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Trading Up 1.1 %

Shares of PLUG stock 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 firm has a fifty day moving average price of $3.49 and a 200-day moving average price of $4.34. 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 company has a market cap of $1.87 billion, a price-to-earnings ratio of -1.19 and a beta of 1.54.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $222.20 million for the quarter, compared to the consensus estimate of $234.21 million. During the same period in the previous year, the firm earned ($0.38) EPS. The company’s revenue was up .7% on a year-over-year basis. As a group, equities analysts predict that Plug Power Inc. will post -0.95 earnings per share for the current year.

Analyst Ratings Changes

PLUG has been the subject of several recent research reports. Evercore ISI lowered their target price on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Monday, March 4th. Royal Bank of Canada reduced their price target on shares of Plug Power from $5.00 to $3.50 and set a “sector perform” rating for the company in a research report on Wednesday, January 24th. Piper Sandler raised their price target on shares of Plug Power from $2.80 to $2.90 and gave the company an “underweight” rating in a research report on Tuesday, March 5th. Citigroup downgraded shares of Plug Power from a “neutral” rating to a “sell” rating and reduced their price target for the company from $3.25 to $2.00 in a research report on Friday, April 5th. Finally, B. Riley reduced their price target on shares of Plug Power from $18.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.05.

Plug Power 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.