Price T Rowe Associates Inc. MD Increases Position in Plug Power Inc. (NASDAQ:PLUG)

Price T Rowe Associates Inc. MD raised its stake in shares of Plug Power Inc. (NASDAQ:PLUG) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 604,427 shares of the electronics maker’s stock after acquiring an additional 39,625 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.07% of Plug Power worth $1,288,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Pacific Sage Partners LLC purchased a new stake in shares of Plug Power during the 4th quarter worth $25,000. Oppenheimer & Co. Inc. acquired a new position in Plug Power during the fourth quarter worth about $25,000. Jones Financial Companies Lllp grew its position in shares of 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 position in shares of Plug Power during the 4th quarter worth approximately $27,000. Finally, Savant Capital LLC purchased a new stake in Plug Power in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Stock Up 1.2 %

NASDAQ PLUG opened at $0.86 on Friday. The stock has a market cap of $880.22 million, a PE ratio of -0.40 and a beta of 2.19. The business has a 50 day moving average price of $1.22 and a two-hundred day moving average price of $1.82. Plug Power Inc. has a fifty-two week low of $0.76 and a fifty-two week high of $4.90. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on PLUG shares. StockNews.com upgraded Plug Power to a “sell” rating in a research report on Tuesday, March 4th. B. Riley cut their price objective on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Seaport Res Ptn lowered Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Piper Sandler dropped their target price on Plug Power from $1.40 to $1.10 and set an “underweight” rating for the company in a research note on Wednesday, March 5th. Finally, UBS Group decreased 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. Five 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, Plug Power has a consensus rating of “Hold” and a consensus price target of $2.29.

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.