Arkadios Wealth Advisors Raises Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Arkadios Wealth Advisors increased its stake in Plug Power Inc. (NASDAQ:PLUG) by 18.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 33,020 shares of the electronics maker’s stock after acquiring an additional 5,075 shares during the quarter. Arkadios Wealth Advisors’ holdings in Plug Power were worth $75,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. grew its holdings in shares of Plug Power by 44.3% during the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after buying an additional 1,051,400 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Plug Power by 5.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker’s stock worth $2,065,000 after buying an additional 33,311 shares in the last quarter. Gabelli Funds LLC grew its holdings in shares of Plug Power by 42.9% during the first quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker’s stock worth $860,000 after buying an additional 75,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Plug Power by 25.9% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,945,162 shares of the electronics maker’s stock worth $4,532,000 after buying an additional 400,120 shares in the last quarter. Finally, Diversified Trust Co purchased a new stake in shares of Plug Power during the second quarter worth $35,000. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Analyst Upgrades and Downgrades

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

Plug Power Stock Up 6.6 %

Shares of NASDAQ:PLUG opened at $2.09 on Friday. The firm’s 50 day moving average price is $2.03 and its 200 day moving average price is $2.43. The stock has a market cap of $1.84 billion, a price-to-earnings ratio of -0.89 and a beta of 1.79. Plug Power Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $6.96. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Thursday, August 8th. The electronics maker reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.06). The firm had revenue of $143.40 million during the quarter, compared to analyst estimates of $184.54 million. Plug Power had a negative net margin of 216.80% and a negative return on equity of 47.51%. The firm’s revenue was down 44.9% compared to the same quarter last year. During the same period last year, the business earned ($0.35) EPS. As a group, equities research analysts predict that Plug Power Inc. will post -1.16 earnings per share for the current fiscal year.

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.