Plug Power Inc. (NASDAQ:PLUG) Shares Sold by Banco Santander S.A.

Banco Santander S.A. reduced its stake in Plug Power Inc. (NASDAQ:PLUG) by 40.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 13,274 shares of the electronics maker’s stock after selling 8,850 shares during the quarter. Banco Santander S.A.’s holdings in Plug Power were worth $28,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Callan Family Office LLC acquired a new stake in Plug Power during the 4th quarter worth approximately $27,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in Plug Power during the 4th quarter worth approximately $60,000. Raymond James Financial Inc. acquired a new stake in Plug Power during the 4th quarter worth approximately $344,000. SBI Securities Co. Ltd. acquired a new stake in Plug Power during the 4th quarter worth approximately $354,000. Finally, Jones Financial Companies Lllp lifted its holdings in Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after buying an additional 6,074 shares in the last quarter. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Down 3.9 %

Shares of NASDAQ PLUG opened at $1.71 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 52 week low of $1.37 and a 52 week high of $4.90. The firm has a 50-day moving average price of $2.04 and a 200 day moving average price of $2.09. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -0.80 and a beta of 1.98.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PLUG shares. Truist Financial reduced their target price on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Craig Hallum dropped their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, November 14th. BMO Capital Markets dropped their price objective on shares of Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Finally, HC Wainwright dropped their price objective on shares of Plug Power from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Six analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Plug Power presently has an average rating of “Hold” and an average price target of $2.34.

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.