Norges Bank bought a new position in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 68,763,006 shares of the electronics maker's stock, valued at approximately $146,465,000. Norges Bank owned 7.55% of Plug Power at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of PLUG. Pacific Sage Partners LLC purchased a new position in shares of Plug Power during the fourth quarter valued at approximately $25,000. Oppenheimer & Co. Inc. purchased a new position in shares of Plug Power during the 4th quarter valued at about $25,000. Jones Financial Companies Lllp increased its stake in Plug Power by 107.4% in the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker's stock worth $25,000 after purchasing an additional 6,074 shares during the period. Callan Family Office LLC bought a new position in Plug Power during the 4th quarter valued at approximately $27,000. Finally, Millburn Ridgefield Corp increased its position in Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker's stock valued at $29,000 after purchasing an additional 5,631 shares during the period. Institutional investors own 43.48% of the company's stock.
Plug Power Price Performance
NASDAQ PLUG traded up $0.01 on Wednesday, reaching $1.32. The company's stock had a trading volume of 33,773,208 shares, compared to its average volume of 48,895,899. 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 $1.19 and a twelve month high of $4.90. The stock has a market cap of $1.22 billion, a PE ratio of -0.62 and a beta of 1.98. The firm's 50 day moving average is $1.69 and its two-hundred day moving average is $2.05.
Wall Street Analyst Weigh In
A number of analysts have weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Plug Power from $1.60 to $1.40 and set an "underperform" rating for the company in a research note on Wednesday, March 5th. HC Wainwright restated a "buy" rating and set a $3.00 price objective on shares of Plug Power in a research report on Monday, March 24th. Piper Sandler lowered their target price on shares of Plug Power from $1.40 to $1.10 and set an "underweight" rating on the stock in a report on Wednesday, March 5th. Morgan Stanley lowered their price objective on shares of Plug Power from $1.75 to $1.60 and set an "underweight" rating for the company in a research report on Thursday, March 6th. Finally, B. Riley lowered their target price on shares of Plug Power from $4.00 to $3.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Six equities research 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, the stock presently has a consensus rating of "Hold" and an average price target of $2.31.
View Our Latest Report on Plug Power
Plug Power Company Profile
(
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.
Further Reading
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