B. Riley Wealth Advisors Inc. Cuts Stock Holdings in Plug Power Inc. (NASDAQ:PLUG)

B. Riley Wealth Advisors Inc. cut its stake in Plug Power Inc. (NASDAQ:PLUG) by 47.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,209 shares of the electronics maker’s stock after selling 12,803 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Plug Power were worth $31,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PLUG. Geode Capital Management LLC raised its position in Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after purchasing an additional 3,662,456 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after buying an additional 1,354,500 shares during the period. Van ECK Associates Corp raised its holdings in Plug Power by 23.6% in the third quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock valued at $8,803,000 after acquiring an additional 809,187 shares in the last quarter. Vontobel Holding Ltd. lifted its stake in Plug Power by 44.3% in the third quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock worth $7,744,000 after acquiring an additional 1,051,400 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Plug Power by 69.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker’s stock worth $5,896,000 after acquiring an additional 1,036,777 shares in the last quarter. 43.48% of the stock is owned by institutional investors and hedge funds.

Plug Power Trading Up 11.3 %

NASDAQ PLUG opened at $2.56 on Monday. The firm’s fifty day moving average is $2.18 and its two-hundred day moving average is $2.26. Plug Power Inc. has a one year low of $1.60 and a one year high of $5.14. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The firm has a market cap of $2.33 billion, a PE ratio of -1.20 and a beta of 1.76.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Plug Power had a negative net margin of 214.05% and a negative return on equity of 46.99%. The company had revenue of $173.70 million during the quarter, compared to analyst estimates of $207.25 million. During the same quarter last year, the firm earned ($0.47) EPS. The business’s revenue was down 12.6% on a year-over-year basis. Analysts expect that Plug Power Inc. will post -1.2 earnings per share for the current year.

Analyst Ratings Changes

PLUG has been the topic of a number of analyst reports. Evercore ISI reduced their price objective on shares of Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a report on Wednesday, November 13th. Craig Hallum cut their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, November 14th. BTIG Research cut Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Jefferies Financial Group cut their target price on Plug Power from $2.20 to $2.00 and set a “hold” rating on the stock in a research report on Thursday, October 3rd. Finally, Canaccord Genuity Group decreased their target price on Plug Power from $2.50 to $2.25 and set a “hold” rating for the company in a research note on Wednesday, November 13th. Four analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $4.52.

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.