Advisors Asset Management Inc. Increases Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Advisors Asset Management Inc. grew its position in shares of Plug Power Inc. (NASDAQ:PLUGGet Rating) by 1.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,531 shares of the electronics maker’s stock after purchasing an additional 970 shares during the period. Advisors Asset Management Inc.’s holdings in Plug Power were worth $937,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in Plug Power in the 2nd quarter valued at $27,000. Sandy Spring Bank lifted its stake in shares of Plug Power by 3,363.6% in the 2nd quarter. Sandy Spring Bank now owns 1,905 shares of the electronics maker’s stock valued at $32,000 after purchasing an additional 1,850 shares in the last quarter. Millburn Ridgefield Corp lifted its holdings in shares of Plug Power by 54.7% during the 2nd quarter. Millburn Ridgefield Corp now owns 2,841 shares of the electronics maker’s stock valued at $47,000 after acquiring an additional 1,004 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in Plug Power by 274.1% during the 1st quarter. Catalyst Capital Advisors LLC now owns 1,837 shares of the electronics maker’s stock worth $53,000 after purchasing an additional 1,346 shares during the period. Finally, AdvisorNet Financial Inc increased its holdings in Plug Power by 34.2% in the 2nd quarter. AdvisorNet Financial Inc now owns 3,355 shares of the electronics maker’s stock valued at $56,000 after purchasing an additional 855 shares in the last quarter. Institutional investors and hedge funds own 51.09% of the company’s stock.

Plug Power Stock Down 4.8 %

NASDAQ PLUG opened at $16.71 on Thursday. Plug Power Inc. has a 1-year low of $12.70 and a 1-year high of $46.50. The company has a market capitalization of $9.74 billion, a price-to-earnings ratio of -13.92 and a beta of 1.56. The stock’s 50 day moving average is $20.36 and its two-hundred day moving average is $20.29. The company has a current ratio of 6.09, a quick ratio of 5.23 and a debt-to-equity ratio of 0.13.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PLUG. BMO Capital Markets reduced their price objective on Plug Power from $22.00 to $18.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 9th. Roth Capital restated a “buy” rating on shares of Plug Power in a report on Thursday, October 20th. Morgan Stanley reduced their price objective on Plug Power from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. KeyCorp upped their target price on Plug Power from $30.00 to $32.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 10th. Finally, Northland Securities initiated coverage on Plug Power in a report on Tuesday, August 2nd. They set a “market perform” rating and a $25.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $27.09.

Plug Power Profile

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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.

See Also

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

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