Bearing Point Capital LLC purchased a new position in Plug Power, Inc. (NASDAQ:PLUG – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 40,450 shares of the electronics maker’s stock, valued at approximately $55,000.
Several other institutional investors also recently bought and sold shares of PLUG. Miracle Mile Advisors LLC purchased a new position in Plug Power in the first quarter worth about $26,000. Ground Swell Capital LLC bought a new stake in shares of Plug Power during the fourth quarter valued at approximately $27,000. Strategic Investment Solutions Inc. IL increased its position in shares of Plug Power by 1,182.4% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 14,696 shares of the electronics maker’s stock valued at $31,000 after acquiring an additional 13,550 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Plug Power in the 1st quarter worth approximately $34,000. Finally, JNBA Financial Advisors bought a new position in Plug Power in the 1st quarter valued at approximately $37,000. 43.48% of the stock is owned by hedge funds and other institutional investors.
Plug Power Trading Up 4.0%
Shares of Plug Power stock opened at $1.84 on Friday. Plug Power, Inc. has a 1-year low of $0.69 and a 1-year high of $3.32. The company’s fifty day simple moving average is $1.26 and its 200-day simple moving average is $1.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.95 and a quick ratio of 1.07. The stock has a market capitalization of $2.11 billion, a PE ratio of -0.74 and a beta of 2.29.
Analyst Ratings Changes
PLUG has been the topic of several recent analyst reports. Canaccord Genuity Group cut their target price on Plug Power from $1.25 to $1.00 and set a “hold” rating on the stock in a research note on Tuesday, May 13th. Susquehanna increased their price objective on Plug Power from $1.00 to $1.80 and gave the company a “neutral” rating in a research report on Monday, July 21st. Jefferies Financial Group increased their price objective on Plug Power from $0.90 to $1.60 and gave the company a “hold” rating in a research report on Wednesday. Wall Street Zen upgraded Plug Power to a “sell” rating in a report on Tuesday, May 13th. Finally, Wells Fargo & Company lowered their target price on shares of Plug Power from $2.00 to $1.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 14th. Six equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $1.92.
Insider Buying and Selling at Plug Power
In other news, insider Paul B. Middleton bought 650,000 shares of Plug Power stock in a transaction that occurred on Monday, June 9th. The stock was bought at an average cost of $1.03 per share, with a total value of $669,500.00. Following the acquisition, the insider owned 2,558,064 shares of the company’s stock, valued at $2,634,805.92. The trade was a 34.07% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.41% of the stock is currently owned by insiders.
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.
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