B. Riley Wealth Advisors Inc. Expands Position in Plug Power Inc. (NASDAQ:PLUG)

Financial Advisors


B. Riley Wealth Advisors Inc. increased its stake in Plug Power Inc. (NASDAQ:PLUG – Free Report) 94.3% in the fourth quarter, according to its latest 13F filing with the SEC. The company holds 28,766 shares in the electronics maker after purchasing an additional 13,964 shares over the period. B. Riley Wealth Advisors’ Plug Power holdings were valued at $356,000 at the end of the most recent reporting period.

Many other hedge funds have also recently changed their stock positions. Norges Bank purchased new positions in Plug His Power worth approximately $211,176,000 during the fourth quarter. BNP Paribas Asset Management Holding SA increased its position in Plug Power by 69.1% in the fourth quarter. BNP Paribas Asset Management Holding SA purchased an additional 7,035,344 shares during the period and now holds 17,213,803 shares in the electronics manufacturer worth $212,935,000. Schroder Investment Management Group increased its position in Plug Power by 244.3% in the fourth quarter. Schroeder Investment Management Group purchased an additional 3,493,122 shares during the period and now owns 4,922,841 shares in the electronics manufacturer, valued at $60,896,000. Two Sigma Investments LPs boosted their position in plug power by 310.7% in the third quarter. Two Sigma Investments LP purchased an additional 2,615,081 shares during the period and now owns 3,456,638 shares of the electronics manufacturer worth $7,2624,000. Finally, Robeco Schweiz AG increased its position in plug power by 73.9% in the fourth quarter. Robeco Schweiz AG purchased an additional 1,839,600 shares during the period and now owns 4,329,600 shares in the electronics manufacturer worth $53,557,000. Hedge funds and other institutional investors own 49.75% of the company’s shares.

Plug power inventory trends

PLUG shares opened at $10.39 on Friday. The company’s 50-day simple moving average is $9.01 and its 200-day simple moving average is $11.84. The company has a quick ratio of 3.25, a current ratio of 4.39 and a debt to equity ratio of 0.13. The company has a market cap of $6.24 billion, a P/E of -7.81 and a beta of 1.76. Plug Power hit a 52-week low of $7.39 and a 52-week high of $31.56.

Plug Power (NASDAQ:PLUG – Free Report) last released its quarterly earnings data on Tuesday, May 9. The electronics maker reported his earnings per share ($0.35) for the quarter, but ($0.08) below consensus expectations ($0.27). Plug Power had a net profit margin of 100.41% and a negative return on equity of 18.72%. The company’s revenue for the quarter was $210.29 million, compared with analysts’ expectations of $207.67 million. In the same period last year, the business earned his earnings per share ($0.27). Business revenues for the quarter increased 49.3% year-on-year. Equity research analysts expect PlugPower to post earnings per share of minus 0.93 for the current fiscal year.

Analysts set new price target

Several brokerage firms recently released reports on PLUG. Citigroup lowered its price target on PlugPower to $20.00 from $21.00 and set the company’s rating to Buy in a research note on Sunday, March 5. Northland Securities lowered its price target on Plug Power to $13.00 from $25.00 in a research note on Thursday, May 11. B. Riley lowered his price target on Plug Power to $18.00 from $26.00 in Tuesday’s report. Susquehanna lowered its price target on Plug Power to $15.00 from $22.00 in a report on Wednesday, May 10. Finally, Trust Financial raised its price target on Plug Power stock to $12.00 from $9.00 in its research report on Thursday, June 15. Eight analysts rated the stock as a hold, while 12 analysts rated it as a buy. According to MarketBeat, the company currently has an average rating of “moderate buy” and a consensus price target of $19.89.

About plug power

(free report)

Plug Power Inc provides end-to-end clean hydrogen and zero-emission fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power markets and more in North America and internationally. The company is committed to building an end-to-end green hydrogen ecosystem, including liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.

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