Toroso Investments LLC Purchases 23,394 Shares of Plug Power Inc. (NASDAQ:PLUG)

Toroso Investments LLC grew its stake in Plug Power Inc. (NASDAQ:PLUGGet Rating) by 16.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 164,787 shares of the electronics maker’s stock after acquiring an additional 23,394 shares during the period. Toroso Investments LLC’s holdings in Plug Power were worth $4,714,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of Plug Power during the 4th quarter worth approximately $208,732,000. Electron Capital Partners LLC grew its position in shares of Plug Power by 1,172.8% during the 1st quarter. Electron Capital Partners LLC now owns 3,003,726 shares of the electronics maker’s stock worth $85,937,000 after buying an additional 3,283,726 shares during the period. Alliancebernstein L.P. grew its position in shares of Plug Power by 612.3% during the 4th quarter. Alliancebernstein L.P. now owns 3,728,312 shares of the electronics maker’s stock worth $105,250,000 after buying an additional 3,204,906 shares during the period. BlackRock Inc. grew its position in shares of Plug Power by 5.5% during the 4th quarter. BlackRock Inc. now owns 48,032,562 shares of the electronics maker’s stock worth $1,355,961,000 after buying an additional 2,483,643 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Plug Power by 270.7% during the 4th quarter. Bank of Montreal Can now owns 2,349,518 shares of the electronics maker’s stock worth $68,072,000 after buying an additional 1,715,689 shares during the period. 51.09% of the stock is owned by institutional investors.

Plug Power Stock Up 2.4 %

NASDAQ:PLUG opened at $29.59 on Thursday. Plug Power Inc. has a one year low of $12.70 and a one year high of $46.50. The firm’s fifty day moving average price is $24.17 and its two-hundred day moving average price is $22.33. The company has a current ratio of 9.10, a quick ratio of 8.10 and a debt-to-equity ratio of 0.12.

Plug Power (NASDAQ:PLUGGet Rating) last released its quarterly earnings data on Tuesday, August 9th. The electronics maker reported ($0.30) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.10). Plug Power had a negative net margin of 105.26% and a negative return on equity of 13.73%. The company had revenue of $151.30 million during the quarter, compared to analyst estimates of $162.31 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. Plug Power’s revenue for the quarter was up 21.5% on a year-over-year basis. On average, analysts anticipate that Plug Power Inc. will post -0.96 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Cowen decreased their price objective on shares of Plug Power to $35.00 in a report on Monday, August 15th. Citigroup boosted their price objective on shares of Plug Power from $20.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 11th. JPMorgan Chase & Co. upped their price target on shares of Plug Power from $28.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, August 10th. KeyCorp upped their price target on shares of Plug Power from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, August 10th. Finally, Morgan Stanley upped their price target on shares of Plug Power from $42.00 to $53.00 and gave the company an “overweight” rating in a report on Thursday, August 18th. Eight investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $34.39.

About Plug Power

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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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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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