Avantax Planning Partners Inc. Boosts Position in Plug Power Inc. (NASDAQ:PLUG)

Avantax Planning Partners Inc. increased its holdings in shares of Plug Power Inc. (NASDAQ:PLUG) by 54.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,722 shares of the electronics maker’s stock after purchasing an additional 6,561 shares during the quarter. Avantax Planning Partners Inc.’s holdings in Plug Power were worth $40,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in 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 purchasing an additional 1,354,500 shares during the last quarter. XTX Topco Ltd purchased a new stake in Plug Power in the third quarter valued at approximately $2,174,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Plug Power by 24.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock valued at $5,472,000 after buying an additional 476,060 shares during the last quarter. Stifel Financial Corp lifted its stake in Plug Power by 23.4% in the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock valued at $3,160,000 after buying an additional 265,514 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Plug Power by 166.4% in the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock valued at $959,000 after buying an additional 265,042 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Stock Down 0.6 %

Plug Power stock opened at $1.66 on Thursday. 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 capitalization of $1.54 billion, a price-to-earnings ratio of -0.78 and a beta of 1.98. Plug Power Inc. has a fifty-two week low of $1.37 and a fifty-two week high of $4.90. The stock’s fifty day moving average is $2.02 and its two-hundred day moving average is $2.09.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Thursday, November 14th. Craig Hallum cut their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, November 14th. Truist Financial cut their price target on Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Piper Sandler cut their price target on Plug Power from $1.40 to $1.10 and set an “underweight” rating for the company in a research note on Wednesday, March 5th. Finally, Seaport Res Ptn cut Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $2.34.

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.