Tatro Capital LLC bought a new stake in Plug Power Inc. (NASDAQ:PLUG) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,219 shares of the electronics maker’s stock, valued at approximately $555,000.
A number of other hedge funds have also added to or reduced their stakes in PLUG. BlackRock Inc. boosted its stake in shares of Plug Power by 26.7% during the 1st quarter. BlackRock Inc. now owns 59,768,929 shares of the electronics maker’s stock worth $2,142,117,000 after purchasing an additional 12,607,594 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Plug Power by 89.3% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 12,734,588 shares of the electronics maker’s stock valued at $435,396,000 after buying an additional 6,007,238 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Plug Power by 19.6% during the first quarter. Geode Capital Management LLC now owns 7,922,604 shares of the electronics maker’s stock valued at $283,678,000 after purchasing an additional 1,300,773 shares in the last quarter. Northern Trust Corp raised its position in Plug Power by 17.1% in the first quarter. Northern Trust Corp now owns 5,373,132 shares of the electronics maker’s stock worth $192,572,000 after acquiring an additional 786,456 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Plug Power by 242.3% during the 1st quarter. Ameriprise Financial Inc. now owns 4,066,750 shares of the electronics maker’s stock valued at $145,753,000 after acquiring an additional 2,878,542 shares in the last quarter. Hedge funds and other institutional investors own 47.46% of the company’s stock.
Shares of NASDAQ:PLUG opened at $25.91 on Tuesday. The business’s 50-day moving average is $26.21 and its 200-day moving average is $29.52. Plug Power Inc. has a 1 year low of $10.92 and a 1 year high of $75.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 19.78 and a quick ratio of 18.94. The company has a market capitalization of $14.88 billion, a price-to-earnings ratio of -16.81 and a beta of 1.37.
In related news, insider Sanjay K. Shrestha sold 5,700 shares of the firm’s stock in a transaction dated Tuesday, July 13th. The stock was sold at an average price of $28.43, for a total value of $162,051.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by company insiders.
PLUG has been the topic of a number of analyst reports. Truist lowered their price target on Plug Power from $42.00 to $29.00 and set a “hold” rating on the stock in a research report on Monday, August 9th. Zacks Investment Research lowered Plug Power from a “hold” rating to a “sell” rating in a research report on Friday, August 27th. Seaport Res Ptn reissued a “buy” rating on shares of Plug Power in a report on Thursday, July 15th. Barclays increased their target price on Plug Power from $24.00 to $27.00 and gave the stock an “underweight” rating in a research report on Wednesday, June 23rd. Finally, Wolfe Research started coverage on Plug Power in a research note on Tuesday, August 31st. They set an “outperform” rating and a $34.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Plug Power currently has an average rating of “Hold” and a consensus target price of $39.43.
Plug Power Company Profile
Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power 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.
See Also: Debt-To-Equity Ratio
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