Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Plug Power Inc. (NASDAQ:PLUG – Free Report) by 25.9% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,945,162 shares of the electronics maker’s stock after purchasing an additional 400,120 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned about 0.26% of Plug Power worth $4,532,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System lifted its position in shares of Plug Power by 5.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 600,188 shares of the electronics maker’s stock worth $2,065,000 after purchasing an additional 33,311 shares during the period. Rafferty Asset Management LLC lifted its position in Plug Power by 69.5% during the fourth quarter. Rafferty Asset Management LLC now owns 359,537 shares of the electronics maker’s stock valued at $1,618,000 after acquiring an additional 147,435 shares during the last quarter. Gabelli Funds LLC lifted its position in Plug Power by 42.9% during the first quarter. Gabelli Funds LLC now owns 250,000 shares of the electronics maker’s stock valued at $860,000 after acquiring an additional 75,000 shares during the last quarter. Diversified Trust Co purchased a new stake in Plug Power during the second quarter valued at approximately $35,000. Finally, Vanguard Group Inc. lifted its position in Plug Power by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 53,987,285 shares of the electronics maker’s stock valued at $242,943,000 after acquiring an additional 283,376 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.
Plug Power Stock Up 4.4 %
PLUG stock opened at $2.15 on Friday. The firm has a market cap of $1.60 billion, a PE ratio of -0.90 and a beta of 1.79. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.91 and a current ratio of 2.07. The firm’s fifty day moving average is $2.06 and its 200 day moving average is $2.59. Plug Power Inc. has a one year low of $1.60 and a one year high of $7.90.
Wall Street Analyst Weigh In
PLUG has been the subject of a number of analyst reports. Truist Financial decreased their target price on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a research report on Monday, August 12th. Piper Sandler decreased their target price on shares of Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Wells Fargo & Company cut their price target on shares of Plug Power from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research note on Friday, August 9th. Royal Bank of Canada cut their price target on shares of Plug Power from $3.50 to $2.50 and set a “sector perform” rating on the stock in a research note on Monday, August 12th. Finally, B. Riley upgraded shares of Plug Power to a “strong-buy” rating in a research note on Tuesday, June 25th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.01.
Read Our Latest Research Report on Plug Power
Plug Power 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.
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