abrdn plc boosted its position in shares of Plug Power Inc. (NASDAQ:PLUG – Get Rating) by 60.0% during the first quarter, Holdings Channel.com reports. The firm owned 100,956 shares of the electronics maker’s stock after buying an additional 37,847 shares during the quarter. abrdn plc’s holdings in Plug Power were worth $2,960,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of PLUG. Norges Bank purchased a new position in Plug Power during the fourth quarter worth about $208,732,000. Alliancebernstein L.P. raised its stake in Plug Power by 612.3% during the fourth quarter. Alliancebernstein L.P. now owns 3,728,312 shares of the electronics maker’s stock worth $105,250,000 after purchasing an additional 3,204,906 shares during the period. BlackRock Inc. raised its stake in Plug Power by 5.5% during the fourth quarter. BlackRock Inc. now owns 48,032,562 shares of the electronics maker’s stock worth $1,355,961,000 after purchasing an additional 2,483,643 shares during the period. Bank of Montreal Can raised its stake in Plug Power by 270.7% during the fourth quarter. Bank of Montreal Can now owns 2,349,518 shares of the electronics maker’s stock worth $68,072,000 after purchasing an additional 1,715,689 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Plug Power by 65.2% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,629,183 shares of the electronics maker’s stock valued at $74,222,000 after acquiring an additional 1,037,971 shares during the period. 52.07% of the stock is owned by hedge funds and other institutional investors.
Plug Power Trading Down 1.3 %
NASDAQ PLUG opened at $21.34 on Monday. The company has a quick ratio of 10.51, a current ratio of 11.44 and a debt-to-equity ratio of 0.12. Plug Power Inc. has a 52 week low of $12.70 and a 52 week high of $46.50. The stock has a market capitalization of $12.34 billion, a PE ratio of -22.00 and a beta of 1.74. The firm has a 50 day moving average of $17.39 and a two-hundred day moving average of $21.05.
Analyst Ratings Changes
PLUG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. reduced their price target on shares of Plug Power from $32.00 to $28.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 29th. Craig Hallum reduced their price target on shares of Plug Power from $49.00 to $31.00 in a research note on Tuesday, May 10th. KeyCorp reissued an “overweight” rating and issued a $30.00 price target on shares of Plug Power in a research note on Thursday, June 30th. Piper Sandler boosted their price target on shares of Plug Power from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, July 19th. Finally, Susquehanna reduced their price target on shares of Plug Power from $33.00 to $30.00 in a research note on Tuesday, May 10th. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.36.
Plug Power Company Profile
Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.
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