Plug Power Inc. (NASDAQ:PLUG) Shares Bought by Mariner LLC

Mariner LLC lifted its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 29.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 177,839 shares of the electronics maker’s stock after acquiring an additional 40,710 shares during the quarter. Mariner LLC’s holdings in Plug Power were worth $379,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Kieckhefer Group LLC acquired a new stake in shares of Plug Power in the fourth quarter valued at approximately $138,000. Arkadios Wealth Advisors grew its stake in shares of Plug Power by 88.0% during the 4th quarter. Arkadios Wealth Advisors now owns 62,082 shares of the electronics maker’s stock valued at $132,000 after buying an additional 29,062 shares during the period. ACT Wealth Management LLC increased its stake in Plug Power by 71.4% during the fourth quarter. ACT Wealth Management LLC now owns 24,000 shares of the electronics maker’s stock worth $51,000 after acquiring an additional 10,000 shares during the last quarter. Sustainable Insight Capital Management LLC acquired a new stake in Plug Power during the 4th quarter worth approximately $79,000. Finally, PFG Investments LLC raised its stake in shares of Plug Power by 16.8% in the 4th quarter. PFG Investments LLC now owns 467,836 shares of the electronics maker’s stock valued at $996,000 after acquiring an additional 67,251 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Down 1.0 %

PLUG stock opened at $0.84 on Friday. The company has a 50 day moving average of $1.30 and a two-hundred day moving average of $1.87. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15. Plug Power Inc. has a 12-month low of $0.76 and a 12-month high of $4.90. The company has a market cap of $780.02 million, a price-to-earnings ratio of -0.39 and a beta of 2.19.

Wall Street Analyst Weigh In

Several brokerages recently commented on PLUG. UBS Group dropped their target price on Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a report on Friday, March 21st. Truist Financial cut their target price on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. B. Riley reduced their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday, March 5th. StockNews.com upgraded Plug Power to a “sell” rating in a research note on Tuesday, March 4th. Finally, Piper Sandler reduced their price target on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating for the company in a report on Wednesday, March 5th. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, Plug Power presently has an average rating of “Hold” and an average target price of $2.29.

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.