Kestra Advisory Services LLC decreased its holdings in shares of Plug Power Inc. (NASDAQ:PLUG – Get Rating) by 14.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,815 shares of the electronics maker’s stock after selling 8,926 shares during the quarter. Kestra Advisory Services LLC’s holdings in Plug Power were worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in PLUG. Great West Life Assurance Co. Can purchased a new stake in shares of Plug Power in the third quarter worth about $4,160,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Plug Power by 4.0% in the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 235,316 shares of the electronics maker’s stock worth $4,944,000 after acquiring an additional 9,152 shares during the period. Zenyatta Capital Management LP acquired a new stake in Plug Power in the third quarter valued at approximately $6,303,000. J.W. Cole Advisors Inc. raised its stake in shares of Plug Power by 7.2% during the third quarter. J.W. Cole Advisors Inc. now owns 11,695 shares of the electronics maker’s stock valued at $246,000 after purchasing an additional 782 shares during the period. Finally, Merit Financial Group LLC acquired a new position in shares of Plug Power during the third quarter worth $373,000. 52.07% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PLUG has been the topic of several analyst reports. Susquehanna dropped their price target on shares of Plug Power from $30.00 to $28.00 in a research note on Wednesday, November 9th. Cowen cut their price target on Plug Power from $33.00 to $30.00 in a research note on Wednesday, November 9th. B. Riley lowered their price objective 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. Susquehanna Bancshares dropped their price objective on Plug Power from $30.00 to $28.00 in a report on Wednesday, November 9th. Finally, Canaccord Genuity Group cut their price target on shares of Plug Power from $21.00 to $16.00 and set a “hold” rating on the stock in a report on Friday, October 21st. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, Plug Power has a consensus rating of “Moderate Buy” and a consensus target price of $26.17.
Plug Power Trading Down 4.0 %
Plug Power (NASDAQ:PLUG – Get Rating) last posted its earnings results on Tuesday, November 8th. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.25) by ($0.05). Plug Power had a negative net margin of 107.91% and a negative return on equity of 15.56%. The business had revenue of $188.63 million during the quarter, compared to analyst estimates of $239.94 million. Sell-side analysts expect that Plug Power Inc. will post -1.09 earnings per share for the current year.
Plug Power Company Profile
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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