B. Riley Wealth Advisors Inc. Has $63,000 Stock Position in Plug Power Inc. (NASDAQ:PLUG)

B. Riley Wealth Advisors Inc. lessened its position in Plug Power Inc. (NASDAQ:PLUG) by 25.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,012 shares of the electronics maker’s stock after selling 9,123 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in Plug Power were worth $63,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. SteelPeak Wealth LLC acquired a new stake in Plug Power in the 2nd quarter valued at approximately $26,000. Nations Financial Group Inc. IA ADV bought a new position in Plug Power during the second quarter worth $26,000. Aire Advisors LLC acquired a new position in Plug Power during the 2nd quarter valued at $28,000. Madison Park Capital Advisors LLC bought a new stake in Plug Power in the 2nd quarter valued at $29,000. Finally, Profund Advisors LLC acquired a new stake in Plug Power in the 2nd quarter worth $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Price Performance

Plug Power stock opened at $1.97 on Friday. The business’s fifty day moving average is $2.03 and its two-hundred day moving average is $2.55. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.07. The firm has a market cap of $1.46 billion, a P/E ratio of -0.82 and a beta of 1.79. Plug Power Inc. has a 52 week low of $1.60 and a 52 week high of $7.90.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The company had revenue of $143.40 million for the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative return on equity of 47.51% and a negative net margin of 216.80%. The firm’s quarterly revenue was down 44.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.35) EPS. Equities research analysts forecast that Plug Power Inc. will post -1.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on PLUG shares. Royal Bank of Canada cut their price objective on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research report on Monday, August 12th. Canaccord Genuity Group cut their price target on Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a report on Monday, August 12th. Jefferies Financial Group decreased their price objective on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a report on Thursday, October 3rd. Truist Financial lowered their price objective on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research report on Monday, August 12th. Finally, Craig Hallum decreased their price target on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.01.

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.