Private Portfolio Partners LLC Buys 19,000 Shares of Plug Power Inc. (NASDAQ:PLUG)

Private Portfolio Partners LLC boosted its stake in Plug Power Inc. (NASDAQ:PLUG) by 51.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 55,700 shares of the electronics maker’s stock after purchasing an additional 19,000 shares during the period. Private Portfolio Partners LLC’s holdings in Plug Power were worth $119,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PLUG. Pacific Sage Partners LLC purchased a new stake in shares of Plug Power during the 4th quarter worth approximately $25,000. Oppenheimer & Co. Inc. purchased a new stake in Plug Power in the fourth quarter worth $25,000. Jones Financial Companies Lllp raised its stake 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 buying an additional 6,074 shares during the period. Callan Family Office LLC purchased a new position in shares of Plug Power during the 4th quarter valued at $27,000. Finally, Millburn Ridgefield Corp grew its stake in shares of Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 5,631 shares during the period. 43.48% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Trading Up 0.8 %

Shares of Plug Power stock opened at $1.32 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. Plug Power Inc. has a 1 year low of $1.24 and a 1 year high of $4.90. The firm has a market cap of $1.22 billion, a PE ratio of -0.62 and a beta of 1.98. The company has a 50 day simple moving average of $1.69 and a two-hundred day simple moving average of $2.05.

Wall Street Analysts Forecast Growth

Several research firms have commented on PLUG. Morgan Stanley dropped their price objective on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a report on Thursday, March 6th. Susquehanna dropped 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, March 5th. StockNews.com upgraded shares of Plug Power to a “sell” rating in a research note on Tuesday, March 4th. UBS Group dropped their target price on Plug Power from $2.50 to $1.75 and set a “neutral” rating on the stock in a research report on Friday, March 21st. Finally, Truist Financial reduced their price target on Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research report on Wednesday, March 5th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Plug Power currently has a consensus rating of “Hold” and an average price target of $2.31.

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.