31,032 Shares in Plug Power Inc. (NASDAQ:PLUG) Acquired by Bosun Asset Management LLC

Bosun Asset Management LLC purchased a new position in shares of Plug Power Inc. (NASDAQ:PLUG) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 31,032 shares of the electronics maker’s stock, valued at approximately $66,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PLUG. Vanguard Group Inc. grew its stake in Plug Power by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock worth $186,244,000 after purchasing an additional 4,491,114 shares during the period. Norges Bank bought a new position in shares of Plug Power during the 4th quarter worth approximately $146,465,000. Geode Capital Management LLC grew its position in shares of Plug Power by 3.8% during the 4th quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock worth $42,434,000 after buying an additional 722,639 shares during the period. Legal & General Group Plc increased its stake in shares of Plug Power by 8.5% in the 4th quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock valued at $21,602,000 after acquiring an additional 796,774 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Plug Power by 11.1% during the 4th quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock valued at $16,843,000 after acquiring an additional 790,650 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Piper Sandler decreased their price target on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating for the company in a research note on Wednesday, March 5th. B. Riley dropped their price target on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. UBS Group reduced their price objective on Plug Power from $2.50 to $1.75 and set a “neutral” rating for the company in a research note on Friday, March 21st. Morgan Stanley lowered their target price on Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a research report on Thursday, March 6th. Finally, Canaccord Genuity Group reduced their price target on shares of Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Plug Power has a consensus rating of “Hold” and an average price target of $2.29.

Plug Power Price Performance

Shares of NASDAQ PLUG opened at $0.79 on Wednesday. The company has a market capitalization of $805.85 million, a PE ratio of -0.37 and a beta of 2.19. 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’s 50 day moving average price is $1.26 and its 200-day moving average price is $1.85. Plug Power Inc. has a twelve month low of $0.76 and a twelve month high of $4.90.

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.