Sigma Planning Corp Increases Stake in Plug Power Inc. (NASDAQ:PLUG)

Sigma Planning Corp raised its position in shares of Plug Power Inc. (NASDAQ:PLUGFree Report) by 13.0% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 21,876 shares of the electronics maker’s stock after purchasing an additional 2,525 shares during the quarter. Sigma Planning Corp’s holdings in Plug Power were worth $166,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of PLUG. Millburn Ridgefield Corp bought a new stake in Plug Power during the 3rd quarter valued at about $29,000. Smithfield Trust Co bought a new stake in Plug Power during the 2nd quarter valued at about $31,000. Glass Jacobson Investment Advisors llc bought a new stake in Plug Power during the 2nd quarter valued at about $34,000. ICA Group Wealth Management LLC bought a new stake in Plug Power during the 4th quarter valued at about $35,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Plug Power in the first quarter worth approximately $41,000. 49.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Piper Sandler lifted their price target on shares of Plug Power from $2.30 to $2.80 and gave the stock an “underweight” rating in a research note on Wednesday, January 24th. Wells Fargo & Company reduced their price target on shares of Plug Power from $7.00 to $4.00 and set an “equal weight” rating for the company in a research note on Tuesday, November 14th. Morgan Stanley reiterated an “underweight” rating and issued a $3.00 price target (down from $3.50) on shares of Plug Power in a research note on Wednesday, December 6th. BMO Capital Markets lowered shares of Plug Power from a “market perform” rating to an “underperform” rating and reduced their price target for the stock from $3.50 to $2.50 in a research note on Wednesday, January 24th. Finally, Craig Hallum reiterated a “buy” rating and issued a $11.00 price target on shares of Plug Power in a research note on Friday, December 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Plug Power has an average rating of “Hold” and a consensus price target of $7.63.

Check Out Our Latest Analysis on Plug Power

Plug Power Price Performance

Shares of NASDAQ:PLUG opened at $4.49 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.41 and a quick ratio of 1.31. Plug Power Inc. has a 1-year low of $2.26 and a 1-year high of $16.81. The company has a market capitalization of $2.72 billion, a P/E ratio of -2.81 and a beta of 1.67. The firm’s 50 day simple moving average is $4.07 and its two-hundred day simple moving average is $6.35.

Plug Power (NASDAQ:PLUGGet Free Report) last issued its quarterly earnings results on Thursday, November 9th. The electronics maker reported ($0.47) earnings per share for the quarter, missing the consensus estimate of ($0.32) by ($0.15). Plug Power had a negative net margin of 106.74% and a negative return on equity of 24.18%. The firm had revenue of $198.71 million for the quarter, compared to analysts’ expectations of $219.57 million. During the same period in the prior year, the firm earned ($0.30) EPS. Plug Power’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts expect that Plug Power Inc. will post -1.69 EPS for the current fiscal year.

Plug Power Profile

(Free Report)

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 liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.

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

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