FNY Investment Advisers LLC increased its position in Plug Power Inc. (NASDAQ:PLUG – Get Rating ) by 96.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,227 shares of the electronics maker’s stock after acquiring an additional 16,305 shares during the quarter. FNY Investment Advisers LLC’s holdings in Plug Power were worth $411,000 as of its most recent SEC filing.
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Several other hedge funds have also recently modified their holdings of the business. Riggs Asset Management Co. Inc. purchased a new position in shares of Plug Power during the third quarter valued at $26,000. Exos TFP Holdings LLC acquired a new stake in Plug Power during the third quarter valued at about $30,000. Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in shares of Plug Power by 124.2% in the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,518 shares of the electronics maker’s stock valued at $31,000 after buying an additional 841 shares during the last quarter. TCI Wealth Advisors Inc. increased its holdings in shares of Plug Power by 358.8% during the third quarter. TCI Wealth Advisors Inc. now owns 1,716 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 1,342 shares during the period. Finally, Nvwm LLC bought a new stake in shares of Plug Power in the third quarter worth about $38,000. The hedge fund and other institutional investors own 52.07% of the company’s stock.
Changes in analyst ratings
Several brokerages have recently weighed in on PLUG. BMO Capital Markets cut their target price on Plug Power from $18.00 to $15.00 and set a “market perform” rating for the company in a research report on Thursday, March 2nd. Susquehanna cut their target price on shares of Plug Power from $28.00 to $25.00 in a report on Thursday, January 26th. JPMorgan Chase & Co. lowered their target price on shares of Plug Power from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Thursday, March 2nd. UBS Group assumed coverage on shares of Plug Power in a report on Tuesday, December 13th. They issued a “buy” rating and a $26.00 target price for the company. Finally, Piper Sandler reduced their price objective on shares of Plug Power from $20.00 to $17.00 in a research report on Thursday, March 2nd. Seven equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Plug Power currently has an average rating of “Moderate Buy” and a consensus target price of $23.86, based on data from MarketBeat.com.
Plug Power Price Performance
PLUG traded down $0.54 during trading on Friday, reaching $11.26. The company’s stock had a trading volume of 12,845,304 shares, compared to its average volume of 17,480,188. The company has a market cap of $6.68 billion, a price-to-earnings ratio of -9.33 and a beta of 1.81. The firm has a fifty day simple moving average of $15.16 and a two hundred day simple moving average of $17.33. Plug Power Inc. has a 1-year low of $10.97 and a 1-year high of $32.05. The company has a quick ratio of 4.19, a current ratio of 5.20 and a debt-to-equity ratio of 0.12.
About Plug Power
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Plug Power, Inc is an alternative energy technology provider that focuses on the design, development, commercialization and manufacturing of hydrogen and fuel cell systems primarily used for materials processing and stationary energy markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.
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