UBS Group AG Acquires 539,692 Shares of Plug Power Inc. (NASDAQ:PLUG)

UBS Group AG boosted its holdings in Plug Power Inc. (NASDAQ:PLUGGet Rating) by 55.3% in the second quarter, HoldingsChannel reports. The firm owned 1,515,488 shares of the electronics maker’s stock after purchasing an additional 539,692 shares during the period. UBS Group AG’s holdings in Plug Power were worth $25,112,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. increased its holdings in shares of Plug Power by 5.1% during the first quarter. BlackRock Inc. now owns 50,496,523 shares of the electronics maker’s stock valued at $1,444,708,000 after acquiring an additional 2,463,961 shares in the last quarter. State Street Corp increased its holdings in shares of Plug Power by 2.6% during the first quarter. State Street Corp now owns 13,677,472 shares of the electronics maker’s stock valued at $391,312,000 after acquiring an additional 348,875 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Plug Power by 24.1% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 13,421,127 shares of the electronics maker’s stock valued at $222,388,000 after acquiring an additional 2,607,500 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Plug Power by 14.3% during the first quarter. First Trust Advisors LP now owns 3,968,391 shares of the electronics maker’s stock valued at $113,536,000 after acquiring an additional 495,702 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Plug Power by 1.8% during the first quarter. Northern Trust Corp now owns 3,314,593 shares of the electronics maker’s stock valued at $94,831,000 after acquiring an additional 58,174 shares in the last quarter. 51.09% of the stock is currently owned by institutional investors.

Plug Power Stock Up 2.0 %

PLUG stock opened at $15.48 on Friday. The stock’s fifty day simple moving average is $18.69 and its two-hundred day simple moving average is $20.05. The company has a current ratio of 6.09, a quick ratio of 5.23 and a debt-to-equity ratio of 0.13. Plug Power Inc. has a 1-year low of $12.70 and a 1-year high of $43.18. The stock has a market cap of $9.02 billion, a P/E ratio of -12.90 and a beta of 1.56.

Analysts Set New Price Targets

Several research firms have recently commented on PLUG. Cowen decreased their price objective on Plug Power from $33.00 to $30.00 in a report on Wednesday, November 9th. Canaccord Genuity Group restated a “hold” rating and set a $16.00 price objective on shares of Plug Power in a report on Friday, October 21st. BTIG Research decreased their price target on Plug Power to $25.00 in a report on Tuesday, November 15th. Craig Hallum upped their price target on Plug Power from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, August 26th. Finally, Truist Financial decreased their price target on Plug Power from $32.00 to $18.00 in a report on Thursday, November 10th. Seven analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Plug Power has a consensus rating of “Moderate Buy” and a consensus target price of $27.09.

Plug Power Profile

(Get Rating)

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.

See Also

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

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