Plug Power Inc. (NASDAQ:PLUG) Shares Sold by MML Investors Services LLC

MML Investors Services LLC lessened its holdings in Plug Power Inc. (NASDAQ:PLUG) by 53.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,924 shares of the electronics maker’s stock after selling 24,320 shares during the period. MML Investors Services LLC’s holdings in Plug Power were worth $47,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PLUG. Nations Financial Group Inc. IA ADV purchased a new stake in Plug Power in the 2nd quarter worth approximately $26,000. Aire Advisors LLC acquired a new stake in Plug Power during the second quarter worth about $28,000. Profund Advisors LLC purchased a new stake in Plug Power during the second quarter worth approximately $29,000. Prio Wealth Limited Partnership purchased a new position in Plug Power in the third quarter valued at about $29,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in Plug Power by 79.9% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares during the period. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Analyst Upgrades and Downgrades

PLUG has been the topic of several analyst reports. Wells Fargo & Company dropped their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Thursday, November 14th. BTIG Research lowered shares of Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. HC Wainwright reissued a “buy” rating and issued a $18.00 price target on shares of Plug Power in a research note on Wednesday, November 13th. Canaccord Genuity Group decreased their price target 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. Finally, Evercore ISI dropped their target price 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. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $4.52.

Plug Power Price Performance

PLUG opened at $2.38 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The company has a market capitalization of $2.17 billion, a PE ratio of -1.11 and a beta of 1.76. Plug Power Inc. has a fifty-two week low of $1.60 and a fifty-two week high of $5.14. The business has a 50-day moving average of $2.21 and a 200-day moving average of $2.25.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $207.25 million. During the same period in the previous year, the business posted ($0.47) earnings per share. The firm’s revenue was down 12.6% on a year-over-year basis. Equities research analysts forecast that Plug Power Inc. will post -1.2 EPS for the current fiscal year.

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.