Geode Capital Management LLC raised its holdings in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,917,268 shares of the electronics maker's stock after buying an additional 722,639 shares during the quarter. Geode Capital Management LLC owned 2.19% of Plug Power worth $42,434,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of PLUG. Stifel Financial Corp lifted its position in shares of Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock valued at $3,160,000 after acquiring an additional 265,514 shares during the period. Norges Bank bought a new position in shares of Plug Power during the 4th quarter worth about $146,465,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Plug Power in the 4th quarter valued at about $320,000. American Century Companies Inc. increased its position in Plug Power by 21.0% in the 4th quarter. American Century Companies Inc. now owns 879,373 shares of the electronics maker's stock valued at $1,873,000 after buying an additional 152,458 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker's stock worth $186,244,000 after buying an additional 4,491,114 shares during the period. 43.48% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently commented on PLUG shares. StockNews.com upgraded Plug Power to a "sell" rating in a report on Tuesday, March 4th. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $2.00 to $1.25 and set a "hold" rating on the stock in a report on Wednesday, March 5th. HC Wainwright reaffirmed a "buy" rating and issued a $3.00 price objective on shares of Plug Power in a research note on Monday, March 24th. BMO Capital Markets decreased their target price on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research report on Wednesday, March 5th. Finally, Susquehanna dropped their price target on shares of Plug Power from $1.80 to $1.25 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Five 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $2.29.
Check Out Our Latest Stock Report on Plug Power
Plug Power Price Performance
NASDAQ PLUG traded down $0.02 during trading on Friday, reaching $0.90. The company's stock had a trading volume of 128,899,897 shares, compared to its average volume of 50,787,252. The firm has a fifty day moving average of $1.47 and a 200 day moving average of $1.95. Plug Power Inc. has a one year low of $0.87 and a one year high of $4.90. The stock has a market capitalization of $832.94 million, a PE ratio of -0.42 and a beta of 2.07. 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 Profile
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Free Report)
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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