Plug Power Inc. (NASDAQ:PLUG) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. trimmed its holdings in Plug Power Inc. (NASDAQ:PLUG) by 28.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,746 shares of the electronics maker’s stock after selling 7,663 shares during the quarter. D.A. Davidson & CO.’s holdings in Plug Power were worth $42,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PLUG. Pacific Sage Partners LLC acquired a new position in Plug Power in the 4th quarter worth about $25,000. 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. 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. First Commonwealth Financial Corp PA purchased a new position in shares of Plug Power during the 3rd quarter valued at approximately $29,000. Finally, Abel Hall LLC acquired a new stake in Plug Power in the 4th quarter valued at $31,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Plug Power Stock Down 3.0 %

Shares of PLUG opened at $1.63 on Friday. The company’s 50-day moving average price is $2.14 and its 200 day moving average price is $2.12. Plug Power Inc. has a 12-month low of $1.52 and a 12-month high of $4.90. 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 firm has a market cap of $1.49 billion, a P/E ratio of -0.76 and a beta of 1.79.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PLUG. Seaport Res Ptn lowered shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Piper Sandler cut their target price on shares of Plug Power from $1.60 to $1.40 and set an “underweight” rating for the company in a research note on Thursday, November 14th. Wells Fargo & Company decreased their price target on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. StockNews.com upgraded Plug Power to a “sell” rating in a report on Monday, February 10th. Finally, Craig Hallum decreased their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $4.12.

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.