Dimensional Fund Advisors LP boosted its holdings in shares of Plug Power Inc. (NASDAQ:PLUG – Free Report) by 20.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,109,530 shares of the electronics maker’s stock after acquiring an additional 187,205 shares during the period. Dimensional Fund Advisors LP’s holdings in Plug Power were worth $2,588,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Plug Power by 1.9% in the first quarter. Vanguard Group Inc. now owns 54,986,479 shares of the electronics maker’s stock valued at $189,153,000 after purchasing an additional 999,194 shares in the last quarter. Van ECK Associates Corp grew its holdings in Plug Power by 37.0% in the 2nd quarter. Van ECK Associates Corp now owns 3,422,814 shares of the electronics maker’s stock valued at $7,975,000 after buying an additional 923,579 shares in the last quarter. Swedbank AB acquired a new stake in shares of Plug Power in the 1st quarter worth $10,687,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Plug Power by 5.4% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,913,322 shares of the electronics maker’s stock worth $10,022,000 after acquiring an additional 150,088 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Plug Power by 69.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,530,346 shares of the electronics maker’s stock worth $5,896,000 after acquiring an additional 1,036,777 shares during the period. Institutional investors and hedge funds own 43.48% of the company’s stock.
Plug Power Price Performance
Plug Power stock opened at $2.12 on Friday. The company has a quick ratio of 0.91, a current ratio of 2.07 and a debt-to-equity ratio of 0.16. Plug Power Inc. has a 52-week low of $1.60 and a 52-week high of $7.90. The firm has a market cap of $1.86 billion, a PE ratio of -0.90 and a beta of 1.79. The company’s 50 day moving average is $2.03 and its two-hundred day moving average is $2.55.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on PLUG. Truist Financial dropped their price objective on shares of Plug Power from $3.00 to $2.00 and set a “hold” rating for the company in a report on Monday, August 12th. Jefferies Financial Group cut their price target on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a report on Thursday, October 3rd. Wells Fargo & Company reduced 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 report on Friday, August 9th. Canaccord Genuity Group lowered their price objective on Plug Power from $3.00 to $2.50 and set a “hold” rating for the company in a research report on Monday, August 12th. Finally, Craig Hallum reduced their target price on Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $5.01.
View Our Latest Stock Analysis 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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