Bayesian Capital Management LP Makes New Investment in Plug Power Inc. (NASDAQ:PLUG)

Bayesian Capital Management LP bought a new position in Plug Power Inc. (NASDAQ:PLUG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 63,400 shares of the electronics maker’s stock, valued at approximately $135,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Plug Power by 5.4% during the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock worth $186,244,000 after buying an additional 4,491,114 shares in the last quarter. Norges Bank bought a new position in Plug Power in the fourth quarter valued at about $146,465,000. Geode Capital Management LLC increased its position in Plug Power by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock worth $42,434,000 after purchasing an additional 722,639 shares during the period. Legal & General Group Plc increased its position in Plug Power by 8.5% in the fourth quarter. Legal & General Group Plc now owns 10,141,849 shares of the electronics maker’s stock worth $21,602,000 after purchasing an additional 796,774 shares during the period. Finally, Northern Trust Corp increased its position in Plug Power by 11.1% in the fourth quarter. Northern Trust Corp now owns 7,907,687 shares of the electronics maker’s stock worth $16,843,000 after purchasing an additional 790,650 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PLUG shares. Susquehanna reduced their target price on shares of Plug Power from $1.80 to $1.25 and set a “neutral” rating on the stock in a research note on Monday, April 14th. UBS Group lowered their target price on shares of Plug Power from $2.50 to $1.75 and set a “neutral” rating for the company in a report on Friday, March 21st. HC Wainwright restated a “buy” rating and issued a $3.00 price target on shares of Plug Power in a research report on Monday, March 24th. B. Riley decreased their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Finally, Canaccord Genuity Group reduced their target price on Plug Power from $2.00 to $1.25 and set a “hold” rating on the stock in a report on Wednesday, March 5th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Plug Power presently has a consensus rating of “Hold” and a consensus target price of $2.29.

Plug Power Trading Up 9.7 %

Shares of NASDAQ:PLUG opened at $0.85 on Friday. The firm has a market cap of $869.89 million, a price-to-earnings ratio of -0.40 and a beta of 2.19. Plug Power Inc. has a 12 month low of $0.76 and a 12 month high of $4.90. The company’s fifty day simple moving average is $1.23 and its 200 day simple moving average is $1.83. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Plug Power Company 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.