Raymond James Financial Services Advisors Inc. Cuts Stock Holdings in Plug Power Inc. (NASDAQ:PLUG)

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 21.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 154,035 shares of the electronics maker’s stock after selling 42,523 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Plug Power were worth $693,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PLUG. US Bancorp DE grew its stake in shares of Plug Power by 7.9% in the 1st quarter. US Bancorp DE now owns 11,362 shares of the electronics maker’s stock worth $324,000 after buying an additional 833 shares in the last quarter. MetLife Investment Management LLC bought a new stake in shares of Plug Power in the 1st quarter worth about $947,000. Dimensional Fund Advisors LP lifted its holdings in shares of Plug Power by 34.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,250,478 shares of the electronics maker’s stock worth $35,771,000 after acquiring an additional 320,262 shares during the last quarter. Blair William & Co. IL lifted its holdings in shares of Plug Power by 12.6% in the 1st quarter. Blair William & Co. IL now owns 8,328 shares of the electronics maker’s stock worth $238,000 after acquiring an additional 934 shares during the last quarter. Finally, Prudential PLC bought a new stake in shares of Plug Power in the 1st quarter worth about $248,000. 43.48% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PLUG. Roth Capital upgraded shares of Plug Power from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. HSBC decreased their price objective on shares of Plug Power from $9.00 to $8.50 and set a “buy” rating for the company in a report on Tuesday, March 5th. Evercore ISI decreased their price objective on shares of Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a report on Monday, March 4th. UBS Group lowered shares of Plug Power from a “buy” rating to a “neutral” rating and set a $4.75 price objective for the company. in a report on Tuesday, February 6th. Finally, Redburn Atlantic initiated coverage on shares of Plug Power in a report on Tuesday, February 6th. They set a “neutral” rating and a $4.50 price objective for the company. Four analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Plug Power currently has an average rating of “Hold” and a consensus target price of $6.05.

Plug Power Stock Up 1.1 %

Shares of Plug Power stock opened at $2.73 on Thursday. The firm’s 50 day moving average price is $3.49 and its 200-day moving average price is $4.34. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18. Plug Power Inc. has a 52-week low of $2.26 and a 52-week high of $13.44. The company has a market cap of $1.87 billion, a P/E ratio of -1.19 and a beta of 1.54.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.56) by ($0.52). Plug Power had a negative return on equity of 38.09% and a negative net margin of 153.57%. The firm had revenue of $222.20 million during the quarter, compared to analysts’ expectations of $234.21 million. During the same period in the previous year, the firm earned ($0.38) EPS. The firm’s quarterly revenue was up .7% on a year-over-year basis. On average, sell-side analysts predict that Plug Power Inc. will post -0.95 EPS 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.