Azzad Asset Management Inc. ADV bought a new stake in Plug Power Inc. (NASDAQ:PLUG – Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 16,179 shares of the electronics maker’s stock, valued at approximately $37,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Mosley Wealth Management bought a new stake in shares of Plug Power during the 1st quarter worth about $35,000. J.W. Cole Advisors Inc. bought a new stake in shares of Plug Power during the 1st quarter valued at approximately $36,000. HighPoint Advisor Group LLC bought a new position in Plug Power in the 4th quarter valued at approximately $48,000. HBK Sorce Advisory LLC acquired a new stake in shares of Plug Power during the first quarter valued at about $37,000. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in Plug Power during the 2nd quarter worth approximately $26,000. Institutional investors and hedge funds own 43.48% of the company’s stock.
Plug Power Trading Down 8.4 %
NASDAQ:PLUG opened at $2.06 on Wednesday. Plug Power Inc. has a 1 year low of $1.60 and a 1 year high of $7.90. The company has a market cap of $1.53 billion, a P/E ratio of -0.86 and a beta of 1.79. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.07 and a quick ratio of 0.91. The stock’s fifty day moving average price is $2.05 and its two-hundred day moving average price is $2.56.
Analyst Upgrades and Downgrades
Several research analysts have commented on PLUG shares. Truist Financial cut their target price on Plug Power from $3.00 to $2.00 and set a “hold” rating on the stock in a report on Monday, August 12th. Jefferies Financial Group decreased their price target on shares of Plug Power from $2.20 to $2.00 and set a “hold” rating for the company in a research note on Thursday, October 3rd. Piper Sandler reduced their price objective on Plug Power from $2.50 to $2.40 and set an “underweight” rating for the company in a research note on Monday, July 22nd. Craig Hallum dropped their price target on shares of Plug Power from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Susquehanna reduced their target price on shares of Plug Power from $3.00 to $2.00 and set a “neutral” rating for the company in a research note on Monday, August 12th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Plug Power presently has an average rating of “Hold” and an average target price of $5.01.
View Our Latest Stock Report on PLUG
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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