Amundi Reduces Holdings in Plug Power Inc. (NASDAQ:PLUG)

Amundi cut its stake in Plug Power Inc. (NASDAQ:PLUG) by 8.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,322,965 shares of the electronics maker’s stock after selling 296,519 shares during the period. Amundi’s holdings in Plug Power were worth $7,078,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in shares of Plug Power by 36.6% in the 3rd quarter. Amalgamated Bank now owns 25,444 shares of the electronics maker’s stock valued at $58,000 after purchasing an additional 6,822 shares during the last quarter. Sigma Planning Corp lifted its stake in Plug Power by 26.4% in the third quarter. Sigma Planning Corp now owns 42,367 shares of the electronics maker’s stock valued at $96,000 after buying an additional 8,837 shares during the last quarter. Nations Financial Group Inc. IA ADV boosted its holdings in shares of Plug Power by 42.3% in the third quarter. Nations Financial Group Inc. IA ADV now owns 15,798 shares of the electronics maker’s stock valued at $36,000 after acquiring an additional 4,700 shares during the period. Victory Capital Management Inc. grew its position in shares of Plug Power by 17.3% during the third quarter. Victory Capital Management Inc. now owns 103,382 shares of the electronics maker’s stock worth $234,000 after acquiring an additional 15,280 shares during the last quarter. Finally, KBC Group NV increased its holdings in shares of Plug Power by 1.4% in the 3rd quarter. KBC Group NV now owns 504,808 shares of the electronics maker’s stock valued at $1,141,000 after acquiring an additional 7,040 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Performance

Shares of PLUG stock opened at $1.66 on Friday. The stock has a fifty day moving average price of $1.99 and a 200 day moving average price of $2.08. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. The stock has a market cap of $1.54 billion, a PE ratio of -0.78 and a beta of 1.98. Plug Power Inc. has a 1 year low of $1.37 and a 1 year high of $4.90.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. HC Wainwright lowered their price objective on shares of Plug Power from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Wednesday, March 5th. Truist Financial dropped their price target on Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a research report on Wednesday, March 5th. Susquehanna decreased their price objective on Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Wednesday, March 5th. StockNews.com raised Plug Power to a “sell” rating in a report on Tuesday, March 4th. Finally, BMO Capital Markets decreased their price target on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a report on Wednesday, March 5th. Six analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $2.34.

Plug Power Company Profile

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.