Plug Power Inc. (NASDAQ:PLUG) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. cut its stake in Plug Power Inc. (NASDAQ:PLUG) by 28.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,746 shares of the electronics maker’s stock after selling 7,663 shares during the period. D.A. Davidson & CO.’s holdings in Plug Power were worth $42,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacific Sage Partners LLC purchased a new position in shares of Plug Power during the fourth quarter worth about $25,000. Catalyst Capital Advisors LLC increased its holdings in shares of Plug Power by 79.9% in the third quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock valued at $29,000 after purchasing an additional 5,631 shares during the period. First Commonwealth Financial Corp PA purchased a new position in Plug Power during the 3rd quarter worth $29,000. Millburn Ridgefield Corp lifted its stake in shares of Plug Power by 79.9% in the 3rd 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 during the period. Finally, Abel Hall LLC purchased a new stake in shares of Plug Power in the fourth quarter valued at about $31,000. 43.48% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PLUG has been the subject of several analyst reports. Canaccord Genuity Group cut their price target on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a report on Wednesday, November 13th. Susquehanna raised their price target on Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a report on Thursday, January 16th. Piper Sandler dropped their price objective on Plug Power from $1.60 to $1.40 and set an “underweight” rating on the stock in a report on Thursday, November 14th. Craig Hallum reduced their target price on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, November 14th. Finally, StockNews.com upgraded shares of Plug Power to a “sell” rating in a research report on Monday, February 10th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $4.12.

Plug Power Stock Down 3.0 %

Shares of NASDAQ PLUG opened at $1.63 on Friday. The firm’s 50-day moving average is $2.14 and its two-hundred day moving average is $2.12. The company has a market capitalization of $1.49 billion, a PE ratio of -0.76 and a beta of 1.79. Plug Power Inc. has a 12-month low of $1.52 and a 12-month high of $4.90. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95.

Plug Power Company 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.