Commonwealth Equity Services LLC boosted its stake in shares of Plug Power Inc. (NASDAQ:PLUG – Free Report) by 23.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 314,949 shares of the electronics maker’s stock after purchasing an additional 59,224 shares during the period. Commonwealth Equity Services LLC owned approximately 0.05% of Plug Power worth $3,691,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Plug Power by 0.3% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 17,273,417 shares of the electronics maker’s stock worth $202,445,000 after purchasing an additional 59,614 shares during the period. Norges Bank acquired a new stake in shares of Plug Power in the fourth quarter worth $211,176,000. State Street Corp increased its position in shares of Plug Power by 6.3% in the third quarter. State Street Corp now owns 14,008,927 shares of the electronics maker’s stock worth $294,328,000 after acquiring an additional 826,142 shares in the last quarter. Morgan Stanley increased its position in shares of Plug Power by 3.1% in the fourth quarter. Morgan Stanley now owns 10,052,469 shares of the electronics maker’s stock worth $124,349,000 after acquiring an additional 303,185 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Plug Power by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 7,633,166 shares of the electronics maker’s stock worth $94,320,000 after acquiring an additional 439,463 shares in the last quarter. Hedge funds and other institutional investors own 49.99% of the company’s stock.
Plug Power Price Performance
Plug Power stock opened at $8.51 on Monday. The firm’s 50-day moving average is $10.43 and its 200-day moving average is $10.46. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.07 and a current ratio of 3.16. Plug Power Inc. has a 1 year low of $7.39 and a 1 year high of $30.43.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on PLUG shares. Northland Securities raised shares of Plug Power from a “market perform” rating to an “outperform” rating and set a $22.00 price objective for the company in a research report on Friday, July 14th. Truist Financial dropped their price objective on shares of Plug Power from $12.00 to $10.00 and set a “hold” rating for the company in a research report on Friday, August 11th. Susquehanna lowered their price target on shares of Plug Power from $15.00 to $14.00 and set a “positive” rating for the company in a report on Monday, August 14th. Seaport Res Ptn reaffirmed a “buy” rating on shares of Plug Power in a report on Tuesday, June 6th. Finally, Royal Bank of Canada lowered their price target on shares of Plug Power from $17.00 to $12.00 in a report on Wednesday, May 10th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.40.
About Plug Power
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 liquid green hydrogen production, storage and handling, transportation, and dispensing infrastructure.
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