Plug Power Inc. (NASDAQ:PLUG) Shares Purchased by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD lifted its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 604,427 shares of the electronics maker’s stock after acquiring an additional 39,625 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Plug Power were worth $1,288,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in Plug Power by 53.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 5,348 shares during the period. Compagnie Lombard Odier SCmA boosted its position in Plug Power by 12.8% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker’s stock valued at $104,000 after purchasing an additional 5,550 shares during the period. Jones Financial Companies Lllp grew its stake 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 during the last quarter. Avantax Planning Partners Inc. lifted its stake in Plug Power by 54.0% in the fourth quarter. Avantax Planning Partners Inc. now owns 18,722 shares of the electronics maker’s stock valued at $40,000 after buying an additional 6,561 shares during the last quarter. Finally, Guggenheim Capital LLC boosted its holdings in shares of Plug Power by 13.0% during the fourth quarter. Guggenheim Capital LLC now owns 65,352 shares of the electronics maker’s stock valued at $139,000 after acquiring an additional 7,539 shares during the period. 43.48% of the stock is currently owned by institutional investors.

Plug Power Stock Performance

Shares of PLUG opened at $0.86 on Friday. The company has a 50-day moving average of $1.22 and a two-hundred day moving average of $1.82. The stock has a market cap of $880.22 million, a price-to-earnings ratio of -0.40 and a beta of 2.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power Inc. has a one year low of $0.76 and a one year high of $4.90.

Analysts Set New Price Targets

PLUG has been the topic of several recent research reports. Truist Financial cut their price objective on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. BMO Capital Markets reduced their price objective on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research report on Wednesday, March 5th. UBS Group lowered their target price on Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Susquehanna decreased their price target on Plug Power from $1.80 to $1.25 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, HC Wainwright restated a “buy” rating and set a $3.00 price objective on shares of Plug Power in a research note on Monday, March 24th. 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 stock. Based on data from MarketBeat, Plug Power currently has a consensus rating of “Hold” and a consensus target price of $2.29.

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.