Plug Power Inc. (NASDAQ:PLUG) Shares Purchased by Sigma Planning Corp

Sigma Planning Corp grew its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 26.4% in the third quarter, Holdings Channel.com reports. The fund owned 42,367 shares of the electronics maker’s stock after buying an additional 8,837 shares during the quarter. Sigma Planning Corp’s holdings in Plug Power were worth $96,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of PLUG. SteelPeak Wealth LLC purchased a new position in shares of Plug Power in the second quarter worth approximately $26,000. Nations Financial Group Inc. IA ADV purchased a new position in Plug Power during the 2nd quarter worth approximately $26,000. Aire Advisors LLC acquired a new stake in Plug Power during the 2nd quarter valued at $28,000. Madison Park Capital Advisors LLC acquired a new stake in Plug Power during the 2nd quarter valued at $29,000. Finally, Profund Advisors LLC purchased a new stake in shares of Plug Power in the second quarter valued at $29,000. 43.48% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PLUG has been the topic of several recent analyst reports. HC Wainwright reissued a “buy” rating and set a $18.00 price target on shares of Plug Power in a research report on Wednesday, November 13th. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday. Craig Hallum decreased their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday. Truist Financial dropped their price objective on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a research note on Monday, August 12th. Finally, Royal Bank of Canada decreased their target price on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating for the company in a research note on Monday, August 12th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $4.52.

Plug Power Stock Down 5.1 %

PLUG opened at $1.87 on Monday. The firm has a market cap of $1.70 billion, a P/E ratio of -0.87 and a beta of 1.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 2.08. The business has a 50 day moving average price of $2.08 and a 200 day moving average price of $2.40. Plug Power Inc. has a twelve month low of $1.60 and a twelve month high of $5.14.

Plug Power (NASDAQ:PLUG) last released its quarterly 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 firm had revenue of $173.70 million during the quarter, compared to the consensus estimate of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company’s revenue for the quarter was down 12.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.47) EPS. Research analysts forecast that Plug Power Inc. will post -1.2 EPS for the current year.

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.