161,379 Shares in Plug Power Inc. (NASDAQ:PLUG) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new stake in Plug Power Inc. (NASDAQ:PLUG) in the fourth quarter, HoldingsChannel reports. The fund purchased 161,379 shares of the electronics maker’s stock, valued at approximately $344,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of PLUG. Norges Bank bought a new stake in shares of Plug Power in the fourth quarter valued at about $146,465,000. Vanguard Group Inc. raised its holdings in Plug Power by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock valued at $186,244,000 after acquiring an additional 4,491,114 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Plug Power in the 4th quarter worth approximately $6,235,000. Legal & General Group Plc grew its holdings in shares of Plug Power by 8.5% during the 4th 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 in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Plug Power by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 19,917,268 shares of the electronics maker’s stock valued at $42,434,000 after purchasing an additional 722,639 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Performance

Shares of NASDAQ:PLUG opened at $0.86 on Friday. The business has a fifty day moving average of $1.22 and a 200-day moving average of $1.82. 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 twelve month low of $0.76 and a twelve month high of $4.90. The firm has a market cap of $880.22 million, a PE ratio of -0.40 and a beta of 2.19.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PLUG. Morgan Stanley reduced their target price on Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a research report on Thursday, March 6th. UBS Group decreased their target price on shares of Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, March 21st. StockNews.com raised shares of Plug Power to a “sell” rating in a research note on Tuesday, March 4th. Truist Financial cut their price target on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday, March 5th. Finally, Susquehanna lowered their price objective on Plug Power from $1.80 to $1.25 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $2.10.

About Plug Power

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.