Janney Montgomery Scott LLC Lowers Holdings in Plug Power Inc. (NASDAQ:PLUG)

Janney Montgomery Scott LLC lowered its position in Plug Power Inc. (NASDAQ:PLUG) by 33.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,627 shares of the electronics maker’s stock after selling 7,800 shares during the period. Janney Montgomery Scott LLC’s holdings in Plug Power were worth $33,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Nations Financial Group Inc. IA ADV raised its position in shares of Plug Power by 42.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock worth $36,000 after acquiring an additional 4,700 shares during the period. Arkadios Wealth Advisors raised its position in shares of Plug Power by 18.2% during the 3rd 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 during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Plug Power by 0.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after purchasing an additional 5,485 shares during the last quarter. Catalyst Capital Advisors LLC raised its position in shares of Plug Power by 79.9% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares during the last quarter. Finally, Millburn Ridgefield Corp raised its position 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 purchasing an additional 5,631 shares during the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Performance

Plug Power stock opened at $1.76 on Friday. The firm has a 50 day simple moving average of $2.29 and a 200-day simple moving average of $2.15. Plug Power Inc. has a 1-year low of $1.57 and a 1-year high of $4.90. 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 stock has a market cap of $1.60 billion, a price-to-earnings ratio of -0.82 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The business’s revenue for the quarter was down 12.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.47) EPS. On average, analysts expect that Plug Power Inc. will post -1.21 EPS for the current year.

Analyst Upgrades and Downgrades

PLUG has been the subject of several research analyst reports. Evercore ISI reduced their price target on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Wednesday, November 13th. StockNews.com raised shares of Plug Power to a “sell” rating in a research note on Monday. Seaport Res Ptn cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. BTIG Research cut shares of Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company dropped their price objective on shares of 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. Five research analysts have rated the stock with a sell rating, eight have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plug Power presently has an average rating of “Hold” and an average price target of $4.12.

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.