Plug Power Inc. (NASDAQ:PLUG) Shares Acquired by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. increased its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 111.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 158,576 shares of the electronics maker’s stock after purchasing an additional 83,416 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Plug Power were worth $338,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. acquired a new position in shares of Plug Power during the 4th quarter worth about $25,000. Pacific Sage Partners LLC acquired a new position in Plug Power in the fourth quarter valued at approximately $25,000. Jones Financial Companies Lllp increased its stake in Plug Power by 107.4% in the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock valued at $25,000 after purchasing an additional 6,074 shares during the last quarter. Callan Family Office LLC acquired a new stake in Plug Power during the fourth quarter worth approximately $27,000. Finally, Millburn Ridgefield Corp lifted its position in shares of Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after buying an additional 5,631 shares during the last quarter. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Plug Power Trading Down 6.9 %

Shares of Plug Power stock opened at $1.34 on Friday. The business has a 50 day moving average price of $1.74 and a 200 day moving average price of $2.06. The company has a market capitalization of $1.24 billion, a P/E ratio of -0.63 and a beta of 1.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power Inc. has a 1 year low of $1.33 and a 1 year high of $4.90.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Seaport Res Ptn lowered shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. StockNews.com raised Plug Power to a “sell” rating in a report on Tuesday, March 4th. UBS Group dropped their price target on Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a research note on Friday, March 21st. Canaccord Genuity Group reduced their price objective on Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, Truist Financial decreased their price objective on Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a report on Wednesday, March 5th. Six research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.31.

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.