Vanguard Group Inc. Buys 4,491,114 Shares of Plug Power Inc. (NASDAQ:PLUG)

Vanguard Group Inc. lifted its stake in Plug Power Inc. (NASDAQ:PLUG - Free Report) by 5.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 87,438,503 shares of the electronics maker's stock after purchasing an additional 4,491,114 shares during the period. Vanguard Group Inc. owned 9.60% of Plug Power worth $186,244,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PLUG. Charles Schwab Investment Management Inc. increased its position in 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 worth $15,000,000 after buying an additional 1,354,500 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Plug Power by 13.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 435,166 shares of the electronics maker's stock valued at $983,000 after acquiring an additional 52,980 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Plug Power by 5.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,929,676 shares of the electronics maker's stock worth $4,361,000 after acquiring an additional 92,736 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Plug Power by 27.7% in the 3rd quarter. Janus Henderson Group PLC now owns 318,268 shares of the electronics maker's stock worth $718,000 after acquiring an additional 68,968 shares in the last quarter. Finally, Stifel Financial Corp raised its stake in Plug Power by 23.4% during the 3rd quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker's stock worth $3,160,000 after acquiring an additional 265,514 shares during the period. 43.48% of the stock is owned by institutional investors.

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Plug Power Price Performance

PLUG traded up $0.02 during trading hours on Friday, hitting $1.13. The company's stock had a trading volume of 20,929,895 shares, compared to its average volume of 49,355,247. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -0.53 and a beta of 2.07. The business's 50-day moving average price is $1.55 and its 200-day moving average price is $1.99. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 12 month low of $1.08 and a 12 month high of $4.90.

Analyst Ratings Changes

A number of research firms have weighed in on PLUG. Morgan Stanley reduced 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 note on Thursday, March 6th. HC Wainwright reiterated a "buy" rating and issued a $3.00 price target on shares of Plug Power in a research note on Monday, March 24th. UBS Group lowered their price objective on Plug Power from $2.50 to $1.75 and set a "neutral" rating on the stock in a research report on Friday, March 21st. Susquehanna cut their target price on Plug Power from $2.50 to $1.80 and set a "neutral" rating for the company in a research report on Wednesday, March 5th. Finally, BMO Capital Markets decreased their target price on Plug Power from $1.60 to $1.40 and set an "underperform" rating on the stock in a research note on Wednesday, March 5th. Five 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. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.33.

About Plug Power

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.