Amundi Reduces Stock Holdings in Plug Power Inc. (NASDAQ:PLUG)

Amundi decreased its position in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 8.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 3,322,965 shares of the electronics maker's stock after selling 296,519 shares during the quarter. Amundi owned approximately 0.36% of Plug Power worth $7,078,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in shares of Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker's stock valued at $15,000,000 after purchasing an additional 1,354,500 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Plug Power during the 3rd quarter valued at $2,174,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Plug Power by 24.5% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker's stock valued at $5,472,000 after purchasing an additional 476,060 shares in the last quarter. Stifel Financial Corp raised its position in shares of Plug Power by 23.4% in the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock worth $3,160,000 after buying an additional 265,514 shares in the last quarter. Finally, MetLife Investment Management LLC boosted its stake in Plug Power by 166.4% during the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker's stock valued at $959,000 after buying an additional 265,042 shares during the period. Hedge funds and other institutional investors own 43.48% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PLUG. Truist Financial lowered their price target on Plug Power from $2.00 to $1.50 and set a "hold" rating on the stock in a report on Wednesday, March 5th. StockNews.com upgraded shares of Plug Power to a "sell" rating in a research report on Tuesday, March 4th. Seaport Res Ptn cut shares of Plug Power from a "hold" rating to a "strong sell" rating in a research note on Monday, January 27th. Piper Sandler dropped their price objective on shares of Plug Power from $1.40 to $1.10 and set an "underweight" rating for the company in a report on Wednesday, March 5th. Finally, B. Riley cut their target price on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $2.34.

Plug Power Trading Down 2.8 %

Shares of NASDAQ:PLUG traded down $0.05 during trading on Wednesday, reaching $1.58. 92,953,217 shares of the company traded hands, compared to its average volume of 47,386,560. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of -0.74 and a beta of 1.98. Plug Power Inc. has a 52-week low of $1.37 and a 52-week high of $4.90. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The business's fifty day moving average is $1.93 and its 200-day moving average is $2.08.

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.