Plug Power Inc. (NASDAQ:PLUG) Shares Sold by AE Wealth Management LLC

AE Wealth Management LLC lessened its stake in Plug Power Inc. (NASDAQ:PLUGGet Rating) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 60,755 shares of the electronics maker’s stock after selling 1,623 shares during the quarter. AE Wealth Management LLC’s holdings in Plug Power were worth $1,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Plug Power by 2.6% in the first quarter. State Street Corp now owns 13,677,472 shares of the electronics maker’s stock valued at $391,312,000 after purchasing an additional 348,875 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Plug Power by 24.1% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 13,421,127 shares of the electronics maker’s stock valued at $222,388,000 after purchasing an additional 2,607,500 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Plug Power by 15.2% in the second quarter. Legal & General Group Plc now owns 4,162,711 shares of the electronics maker’s stock valued at $68,977,000 after purchasing an additional 548,973 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Plug Power by 14.3% in the first quarter. First Trust Advisors LP now owns 3,968,391 shares of the electronics maker’s stock valued at $113,536,000 after purchasing an additional 495,702 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Plug Power by 1.8% in the first quarter. Northern Trust Corp now owns 3,314,593 shares of the electronics maker’s stock valued at $94,831,000 after purchasing an additional 58,174 shares during the last quarter. Institutional investors and hedge funds own 52.07% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on PLUG shares. BMO Capital Markets cut their target price on Plug Power from $22.00 to $18.00 and set a “market perform” rating for the company in a research note on Wednesday, November 9th. TheStreet cut Plug Power from a “c-” rating to a “d+” rating in a research note on Monday, October 10th. UBS Group started coverage on Plug Power in a research note on Tuesday, December 13th. They set a “buy” rating and a $26.00 target price for the company. B. Riley cut their target price on Plug Power from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Thursday, October 20th. Finally, Citigroup raised their target price on Plug Power from $20.00 to $21.00 in a research note on Thursday, December 15th. Seven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $26.17.

Plug Power Trading Up 5.1 %

NASDAQ:PLUG opened at $14.95 on Wednesday. The firm has a market cap of $8.71 billion, a PE ratio of -12.46 and a beta of 1.63. The stock has a fifty day moving average price of $14.39 and a 200 day moving average price of $19.45. Plug Power Inc. has a 12-month low of $11.49 and a 12-month high of $32.05. The company has a current ratio of 6.09, a quick ratio of 5.23 and a debt-to-equity ratio of 0.13.

Plug Power (NASDAQ:PLUGGet Rating) last released its earnings results on Tuesday, November 8th. The electronics maker reported ($0.30) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.25) by ($0.05). The company had revenue of $188.63 million during the quarter, compared to analysts’ expectations of $239.94 million. Plug Power had a negative net margin of 107.91% and a negative return on equity of 15.56%. Sell-side analysts anticipate that Plug Power Inc. will post -1.08 earnings per share for the current fiscal year.

Plug Power Company Profile

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Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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