Plug Power Inc. (NASDAQ:PLUG) Shares Sold by FNY Investment Advisers LLC

FNY Investment Advisers LLC lessened its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,000 shares of the electronics maker’s stock after selling 4,000 shares during the quarter. FNY Investment Advisers LLC’s holdings in Plug Power were worth $289,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PLUG. Nations Financial Group Inc. IA ADV grew its position 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 acquiring an additional 4,700 shares during the period. Arkadios Wealth Advisors boosted its position in 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 purchasing an additional 5,075 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock valued at $1,817,000 after purchasing an additional 5,485 shares during the period. Catalyst Capital Advisors LLC increased 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 buying 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 worth $29,000 after buying an additional 5,631 shares during the period. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Jefferies Financial Group dropped their price target on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research note on Thursday, October 3rd. HC Wainwright reissued a “buy” rating and set a $18.00 target price on shares of Plug Power in a research note on Wednesday, November 13th. Piper Sandler decreased their price target on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a research note on Thursday, November 14th. Wells Fargo & Company cut their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Finally, Evercore ISI decreased their target price on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.52.

Plug Power Price Performance

Plug Power stock opened at $2.66 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The company has a 50-day moving average price of $2.30 and a 200 day moving average price of $2.24. Plug Power Inc. has a 12-month low of $1.60 and a 12-month high of $5.14. The stock has a market cap of $2.42 billion, a P/E ratio of -1.24 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last announced its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The firm had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. During the same quarter in the prior year, the business earned ($0.47) EPS. The firm’s quarterly revenue was down 12.6% on a year-over-year basis. Sell-side analysts anticipate 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.