Plug Power Inc. (NASDAQ:PLUG) Stock Holdings Decreased by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC reduced its position in Plug Power Inc. (NASDAQ:PLUG) by 20.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Plug Power by 0.7% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 803,881 shares of the electronics maker’s stock worth $1,817,000 after acquiring an additional 5,485 shares in the last quarter. Compagnie Lombard Odier SCmA grew its position in Plug Power by 12.8% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker’s stock worth $104,000 after acquiring an additional 5,550 shares in the last quarter. Millburn Ridgefield Corp grew its position in Plug Power by 79.9% in the third quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares in the last quarter. Jones Financial Companies Lllp grew its position in Plug Power by 107.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 6,074 shares in the last quarter. Finally, 49 Wealth Management LLC grew its position in Plug Power by 40.6% in the third quarter. 49 Wealth Management LLC now owns 23,346 shares of the electronics maker’s stock worth $53,000 after acquiring an additional 6,745 shares in the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

Plug Power Stock Up 2.4 %

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

Analyst Ratings Changes

Several analysts have commented on PLUG shares. Canaccord Genuity Group decreased their target price on shares of Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a research report on Wednesday, March 5th. BMO Capital Markets cut their target price on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. 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. Truist Financial lowered their price target 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. Finally, Piper Sandler lowered their price target on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a report on Wednesday, March 5th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $2.34.

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.