Stifel Financial Corp lifted its stake in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 23.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,398,398 shares of the electronics maker's stock after purchasing an additional 265,514 shares during the period. Stifel Financial Corp owned 0.16% of Plug Power worth $3,160,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Nations Financial Group Inc. IA ADV bought a new stake in Plug Power during the second quarter worth $26,000. Aire Advisors LLC acquired a new position in shares of Plug Power during the 2nd quarter worth about $28,000. Profund Advisors LLC bought a new stake in shares of Plug Power in the 2nd quarter valued at about $29,000. Prio Wealth Limited Partnership acquired a new stake in Plug Power in the 3rd quarter valued at about $29,000. Finally, Catalyst Capital Advisors LLC grew its holdings in Plug Power by 79.9% during the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker's stock worth $29,000 after purchasing an additional 5,631 shares during the period. Institutional investors and hedge funds own 43.48% of the company's stock.
Wall Street Analyst Weigh In
Several analysts have issued reports on the company. Evercore ISI dropped their price objective on Plug Power from $5.00 to $4.00 and set an "outperform" rating on the stock in a research note on Wednesday, November 13th. Jefferies Financial Group dropped their price target on Plug Power from $2.20 to $2.00 and set a "hold" rating on the stock in a research note on Thursday, October 3rd. BTIG Research cut shares of Plug Power from a "buy" rating to a "neutral" rating in a research report on Thursday, November 14th. Craig Hallum dropped their price objective on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating on the stock in a research report on Thursday, November 14th. Finally, Piper Sandler reduced their target price on shares of Plug Power from $1.60 to $1.40 and set an "underweight" rating for the company in a report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $4.52.
Check Out Our Latest Stock Report on PLUG
Plug Power Price Performance
Shares of Plug Power stock traded down $0.24 during trading on Wednesday, reaching $2.22. 57,465,789 shares of the company's stock were exchanged, compared to its average volume of 43,383,645. The firm's 50-day moving average price is $2.16 and its 200 day moving average price is $2.28. The company has a market cap of $2.02 billion, a P/E ratio of -1.04 and a beta of 1.76. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power Inc. has a 1-year low of $1.60 and a 1-year high of $5.14.
Plug Power (NASDAQ:PLUG - Get Free Report) last posted its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts' consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm's revenue was down 12.6% compared to the same quarter last year. During the same period last year, the company posted ($0.47) EPS. As a group, research analysts anticipate that Plug Power Inc. will post -1.2 earnings per share for the current year.
Plug Power Profile
(
Free Report)
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.
Further Reading
Before you consider Plug Power, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Plug Power wasn't on the list.
While Plug Power currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are major institutional investors including hedge funds and endowments buying in today's market? Click the link below and we'll send you MarketBeat's list of thirteen stocks that institutional investors are buying up as quickly as they can.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.