Mackenzie Financial Corp Raises Stake in Plug Power Inc. (NASDAQ:PLUG)

Mackenzie Financial Corp lifted its position in shares of Plug Power Inc. (NASDAQ:PLUGGet Rating) by 8.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,797 shares of the electronics maker’s stock after buying an additional 2,296 shares during the quarter. Mackenzie Financial Corp’s holdings in Plug Power were worth $510,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stonehage Fleming Financial Services Holdings Ltd purchased a new stake in shares of Plug Power during the second quarter worth about $27,000. Catalyst Capital Advisors LLC boosted its position in shares of Plug Power by 274.1% in the first quarter. Catalyst Capital Advisors LLC now owns 1,837 shares of the electronics maker’s stock worth $53,000 after acquiring an additional 1,346 shares during the last quarter. Sandy Spring Bank boosted its position in shares of Plug Power by 3,363.6% in the second quarter. Sandy Spring Bank now owns 1,905 shares of the electronics maker’s stock worth $32,000 after acquiring an additional 1,850 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Plug Power by 199.0% in the first quarter. Benjamin Edwards Inc. now owns 2,601 shares of the electronics maker’s stock worth $74,000 after acquiring an additional 1,731 shares during the last quarter. Finally, Millburn Ridgefield Corp boosted its position in shares of Plug Power by 54.7% in the second quarter. Millburn Ridgefield Corp now owns 2,841 shares of the electronics maker’s stock worth $47,000 after acquiring an additional 1,004 shares during the last quarter. 51.09% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power Trading Up 2.0 %

NASDAQ PLUG opened at $15.48 on Friday. The company’s fifty day simple moving average is $18.69 and its 200-day simple moving average is $20.05. Plug Power Inc. has a 52 week low of $12.70 and a 52 week high of $43.18. The company has a current ratio of 6.09, a quick ratio of 5.23 and a debt-to-equity ratio of 0.13. The stock has a market cap of $9.02 billion, a P/E ratio of -12.90 and a beta of 1.56.

Analyst Upgrades and Downgrades

PLUG has been the topic of several research analyst reports. B. Riley decreased their target price on shares of Plug Power from $32.00 to $31.00 and set a “buy” rating on the stock in a research report on Thursday, October 20th. Jefferies Financial Group initiated coverage on shares of Plug Power in a research report on Tuesday, October 18th. They issued a “buy” rating and a $28.00 target price on the stock. Oppenheimer decreased their target price on shares of Plug Power from $63.00 to $31.00 in a research report on Wednesday, November 9th. Citigroup reduced their price target on shares of Plug Power from $28.00 to $20.00 and set a “buy” rating on the stock in a research report on Thursday, November 10th. Finally, Royal Bank of Canada reduced their price target on shares of Plug Power from $24.00 to $20.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 9th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, Plug Power has an average rating of “Moderate Buy” and an average target price of $27.09.

Plug Power Profile

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Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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