Plug Power Inc. (NASDAQ:PLUG) Shares Sold by Arete Wealth Advisors LLC

Arete Wealth Advisors LLC cut its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 60.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,632 shares of the electronics maker’s stock after selling 88,485 shares during the quarter. Arete Wealth Advisors LLC’s holdings in Plug Power were worth $125,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PLUG. Pacific Sage Partners LLC acquired a new position in Plug Power during the 4th quarter worth approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in shares of Plug Power during the 4th quarter worth $25,000. Jones Financial Companies Lllp grew its stake in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after purchasing an additional 6,074 shares in the last quarter. Callan Family Office LLC purchased a new position in Plug Power in the fourth quarter valued at $27,000. Finally, Abel Hall LLC acquired a new stake in Plug Power in the fourth quarter valued at $31,000. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Stock Performance

Shares of PLUG stock opened at $1.25 on Tuesday. Plug Power Inc. has a 52-week low of $1.08 and a 52-week high of $4.90. The stock’s 50-day moving average price is $1.64 and its 200 day moving average price is $2.03. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.15 billion, a PE ratio of -0.58 and a beta of 2.07.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Susquehanna lowered their price objective on Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. BMO Capital Markets lowered their price target on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a report on Wednesday, March 5th. Canaccord Genuity Group cut their price objective on shares of Plug Power from $2.00 to $1.25 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Seaport Res Ptn cut shares of Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Finally, Piper Sandler dropped their target price on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.33.

About Plug Power

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.