Industrial Alliance Investment Management Inc. acquired a new position in shares of Plug Power Inc. (NASDAQ:PLUG – Get Rating) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 101,450 shares of the electronics maker’s stock, valued at approximately $2,131,000.
A number of other institutional investors have also recently added to or reduced their stakes in PLUG. Two Sigma Investments LP lifted its holdings in shares of Plug Power by 310.7% in the third quarter. Two Sigma Investments LP now owns 3,456,638 shares of the electronics maker’s stock valued at $72,624,000 after purchasing an additional 2,615,081 shares in the last quarter. Indus Capital Partners LLC purchased a new stake in shares of Plug Power in the second quarter valued at about $20,989,000. Encompass Capital Advisors LLC purchased a new stake in shares of Plug Power in the second quarter valued at about $18,227,000. Handelsbanken Fonder AB raised its position in shares of Plug Power by 184.0% in the third quarter. Handelsbanken Fonder AB now owns 1,613,924 shares of the electronics maker’s stock valued at $33,909,000 after buying an additional 1,045,713 shares during the last quarter. Finally, State Street Corp raised its position in shares of Plug Power by 6.3% in the third quarter. State Street Corp now owns 14,008,927 shares of the electronics maker’s stock valued at $294,328,000 after buying an additional 826,142 shares during the last quarter. Hedge funds and other institutional investors own 52.07% of the company’s stock.
Plug Power Stock Performance
Shares of NASDAQ:PLUG opened at $11.80 on Friday. The stock has a market capitalization of $7.00 billion, a P/E ratio of -9.44 and a beta of 1.81. Plug Power Inc. has a 1-year low of $11.39 and a 1-year high of $32.05. The company has a current ratio of 5.20, a quick ratio of 4.19 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $15.18 and a two-hundred day moving average price of $17.36.
Wall Street Analysts Forecast Growth
About Plug Power
Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.
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