Stifel Financial Corp Boosts Stock Holdings in Plug Power Inc. (NASDAQ:PLUG)

Stifel Financial Corp boosted its position in Plug Power Inc. (NASDAQ:PLUG) by 23.4% in the third quarter, HoldingsChannel.com reports. 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’s holdings in Plug Power were worth $3,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Nations Financial Group Inc. IA ADV lifted its stake in shares of Plug Power by 42.3% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock valued at $36,000 after buying an additional 4,700 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Plug Power by 18.2% during the third quarter. Arkadios Wealth Advisors now owns 33,020 shares of the electronics maker’s stock worth $75,000 after acquiring an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after acquiring an additional 5,485 shares during the period. Catalyst Capital Advisors LLC grew its position in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares in the last quarter. Finally, Millburn Ridgefield Corp raised its stake in shares of Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the period. 43.48% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PLUG. Evercore ISI reduced their target price on Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a report on Wednesday, November 13th. Piper Sandler cut their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research report on Thursday, November 14th. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a report on Thursday, November 14th. Craig Hallum lowered their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $18.00 price target on shares of Plug Power in a report on Wednesday, November 13th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $4.52.

Plug Power Trading Up 0.4 %

NASDAQ:PLUG opened at $2.46 on Wednesday. The firm has a market capitalization of $2.24 billion, a P/E ratio of -1.15 and a beta of 1.76. Plug Power Inc. has a 52 week low of $1.60 and a 52 week high of $5.14. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The company has a fifty day moving average of $2.16 and a 200 day moving average of $2.28.

Plug Power (NASDAQ:PLUG) last posted its earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The business 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 for the quarter was down 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.47) earnings per share. On average, research analysts predict that Plug Power Inc. will post -1.2 earnings per share for the current year.

Plug Power Company 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.