Legal & General Group Plc Grows Position in Plug Power Inc. (NASDAQ:PLUG)

Legal & General Group Plc boosted its position in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,141,849 shares of the electronics maker's stock after acquiring an additional 796,774 shares during the quarter. Legal & General Group Plc owned 1.11% of Plug Power worth $21,602,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PLUG. Oppenheimer & Co. Inc. purchased a new stake in shares of Plug Power in the 4th quarter valued at approximately $25,000. Pacific Sage Partners LLC purchased a new stake in Plug Power during the 4th quarter worth about $25,000. Jones Financial Companies Lllp boosted its position in shares of 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 acquiring an additional 6,074 shares in the last quarter. Callan Family Office LLC purchased a new position in shares of Plug Power in the 4th quarter valued at about $27,000. Finally, Abel Hall LLC purchased a new position in shares of Plug Power in the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 43.48% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on PLUG shares. UBS Group dropped their price target on shares of Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research note on Friday, March 21st. Piper Sandler cut their price target on shares of Plug Power from $1.40 to $1.10 and set an "underweight" rating on the stock in a research note on Wednesday, March 5th. Canaccord Genuity Group decreased their price objective on shares of Plug Power from $2.00 to $1.25 and set a "hold" rating for the company in a research note on Wednesday, March 5th. HC Wainwright reiterated a "buy" rating and set a $3.00 target price on shares of Plug Power in a research report on Monday, March 24th. Finally, B. Riley decreased their target price on Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $2.29.

Plug Power Stock Performance

PLUG traded down $0.02 during trading on Friday, hitting $0.90. The stock had a trading volume of 128,899,897 shares, compared to its average volume of 50,686,112. The firm has a market capitalization of $832.94 million, a P/E ratio of -0.42 and a beta of 2.07. The company's 50-day moving average price is $1.48 and its 200 day moving average price is $1.96. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power Inc. has a twelve month low of $0.87 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.