Vanguard Group Inc. Acquires 194,903 Shares of Plug Power Inc (PLUG)

Vanguard Group Inc. lifted its holdings in shares of Plug Power Inc (NASDAQ:PLUG) by 1.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,460,068 shares of the electronics maker’s stock after buying an additional 194,903 shares during the period. Vanguard Group Inc.’s holdings in Plug Power were worth $20,082,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in PLUG. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Plug Power during the third quarter worth about $121,000. Alps Advisors Inc. boosted its stake in shares of Plug Power by 387.8% during the third quarter. Alps Advisors Inc. now owns 90,509 shares of the electronics maker’s stock worth $174,000 after buying an additional 71,955 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in shares of Plug Power by 2.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 4,600,000 shares of the electronics maker’s stock worth $8,832,000 after buying an additional 100,000 shares during the period. Finally, BlackRock Inc. boosted its stake in shares of Plug Power by 0.8% during the third quarter. BlackRock Inc. now owns 14,741,256 shares of the electronics maker’s stock worth $28,301,000 after buying an additional 116,133 shares during the period. Institutional investors and hedge funds own 26.84% of the company’s stock.

Shares of NASDAQ:PLUG opened at $1.62 on Tuesday. The company has a debt-to-equity ratio of 10.93, a current ratio of 1.06 and a quick ratio of 0.60. The stock has a market capitalization of $378.09 million, a P/E ratio of -2.70 and a beta of 1.90. Plug Power Inc has a 52 week low of $0.99 and a 52 week high of $2.27.

PLUG has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Plug Power from a “hold” rating to a “buy” rating in a research report on Friday, November 16th. Zacks Investment Research upgraded shares of Plug Power from a “hold” rating to a “buy” rating and set a $1.50 price objective for the company in a research report on Wednesday, December 19th. Finally, BidaskClub downgraded shares of Plug Power from a “sell” rating to a “strong sell” rating in a research report on Friday, February 8th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $2.94.

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Plug Power Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, commercialization, and manufacture of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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