Steward Partners Investment Advisory LLC Trims Position in Plug Power Inc. (NASDAQ:PLUG)

Steward Partners Investment Advisory LLC decreased its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 20.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 37,670 shares of the electronics maker’s stock after selling 9,464 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Plug Power were worth $80,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pacific Sage Partners LLC acquired a new stake in shares of Plug Power in the fourth quarter worth $25,000. Oppenheimer & Co. Inc. bought a new position in Plug Power during the 4th quarter valued at $25,000. Jones Financial Companies Lllp boosted its stake in Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after acquiring an additional 6,074 shares during the last quarter. Millburn Ridgefield Corp boosted its stake in 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 acquiring an additional 5,631 shares during the last quarter. Finally, First Commonwealth Financial Corp PA bought a new position in Plug Power during the 3rd quarter valued at $29,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Up 2.4 %

NASDAQ PLUG opened at $1.70 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company’s 50 day simple moving average is $1.96 and its 200 day simple moving average is $2.08. Plug Power Inc. has a 12 month low of $1.37 and a 12 month high of $4.90. The company has a market capitalization of $1.57 billion, a P/E ratio of -0.79 and a beta of 1.98.

Wall Street Analysts Forecast Growth

PLUG has been the topic of a number of recent research reports. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research report on Tuesday, March 4th. Truist Financial dropped their price objective on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday, March 5th. B. Riley dropped their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. Morgan Stanley lowered their target price on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a research note on Thursday, March 6th. Finally, BMO Capital Markets dropped their price target on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. Six research analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Plug Power has an average rating of “Hold” and a consensus target price of $2.34.

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.