Stifel Financial Corp Has $3.16 Million Stake in Plug Power Inc. (NASDAQ:PLUG)

Stifel Financial Corp grew its holdings in shares of Plug Power Inc. (NASDAQ:PLUG) by 23.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,398,398 shares of the electronics maker’s stock after acquiring an additional 265,514 shares during the quarter. Stifel Financial Corp owned 0.16% of Plug Power worth $3,160,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Nations Financial Group Inc. IA ADV bought a new stake in Plug Power in the second quarter valued at approximately $26,000. Aire Advisors LLC acquired a new position in Plug Power in the second quarter valued at $28,000. Profund Advisors LLC bought a new stake in Plug Power during the second quarter valued at $29,000. Prio Wealth Limited Partnership bought a new position in shares of Plug Power in the 3rd quarter worth about $29,000. Finally, Catalyst Capital Advisors LLC lifted its stake in shares of Plug Power by 79.9% in the 3rd 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 during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. BTIG Research lowered Plug Power from a “buy” rating to a “neutral” rating in a research note on Thursday, November 14th. Piper Sandler cut their target price 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. Evercore ISI decreased 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 note on Wednesday, November 13th. Craig Hallum cut their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. Finally, Wells Fargo & Company decreased their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Thursday, November 14th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.52.

Plug Power Trading Up 0.4 %

NASDAQ:PLUG opened at $2.46 on Wednesday. Plug Power Inc. has a 52 week low of $1.60 and a 52 week high of $5.14. The firm has a 50-day moving average price of $2.16 and a two-hundred day moving average price of $2.28. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of -1.15 and a beta of 1.76.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $173.70 million for the quarter, compared to analysts’ expectations of $207.25 million. Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The business’s revenue was down 12.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.47) earnings per share. On average, equities analysts expect that Plug Power Inc. will post -1.2 earnings per share for the current fiscal year.

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.