QRG Capital Management Inc. Acquires 9,977 Shares of Plug Power Inc. (NASDAQ:PLUG)

QRG Capital Management Inc. increased its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 11.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 100,369 shares of the electronics maker’s stock after purchasing an additional 9,977 shares during the quarter. QRG Capital Management Inc.’s holdings in Plug Power were worth $214,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PLUG. Geode Capital Management LLC lifted its position in Plug Power by 23.6% during the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock worth $43,388,000 after purchasing an additional 3,662,456 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after purchasing an additional 1,354,500 shares during the period. XTX Topco Ltd bought a new stake in Plug Power during the third quarter worth about $2,174,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Plug Power by 24.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after purchasing an additional 476,060 shares during the period. Finally, Main Management ETF Advisors LLC bought a new position in shares of Plug Power in the third quarter worth about $823,000. Institutional investors own 43.48% of the company’s stock.

Plug Power Stock Up 7.9 %

Plug Power stock opened at $1.78 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power Inc. has a 52-week low of $1.37 and a 52-week high of $4.90. The firm has a 50 day moving average price of $2.06 and a two-hundred day moving average price of $2.10. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of -0.83 and a beta of 1.79.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PLUG shares. Piper Sandler reduced their price target on shares of Plug Power from $1.40 to $1.10 and set an “underweight” rating on the stock in a research note on Wednesday. Wells Fargo & Company reduced their price target on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 14th. B. Riley reduced their price target on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Wednesday. Morgan Stanley reduced their price target on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a research note on Thursday. Finally, Susquehanna reduced their price target on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Wednesday. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.34.

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.