Plug Power Inc. (NASDAQ:PLUG) Shares Purchased by MML Investors Services LLC

Posted by on Mar 2nd, 2023

MML Investors Services LLC raised its position in Plug Power Inc. (NASDAQ:PLUG – Get Rating) by 64.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,966 shares of the electronics maker’s stock after acquiring an additional 26,178 shares during the quarter. MML Investors Services LLC’s holdings in Plug Power were worth $1,407,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PLUG. Indus Capital Partners LLC acquired a new stake in Plug Power during the 2nd quarter valued at $20,989,000. Encompass Capital Advisors LLC purchased a new stake in shares of Plug Power during the second quarter worth about $18,227,000. Handelsbanken Fonder AB increased its position in shares of Plug Power by 184.0% during the third quarter. Handelsbanken Fonder AB now owns 1,613,924 shares of the electronics maker’s stock worth $33,909,000 after acquiring an additional 1,045,713 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in Plug Power by 35.3% in the second quarter. UBS Asset Management Americas Inc. now owns 3,144,151 shares of the electronics maker’s stock valued at $52,099,000 after purchasing an additional 820,148 shares during the last quarter. Finally, Credit Suisse AG grew its stake in Plug Power by 48.5% during the 2nd quarter. Credit Suisse AG now owns 2,265,698 shares of the electronics maker’s stock valued at $37,543,000 after purchasing an additional 740,198 shares in 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 $14.21 on Thursday. The firm’s 50 day moving average is $15.04 and its two-hundred day moving average is $18.43. The company has a debt-to-equity ratio of 0.13, a quick ratio of 5.23 and a current ratio of 6.09. Plug Power Inc. has a 52 week low of $11.49 and a 52 week high of $32.05.

Wall Street Analysts Forecast Growth

PLUG has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their target price on Plug Power from $18.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Friday, January 6th. BTIG Research decreased their price objective on shares of Plug Power to $25.00 in a report on Tuesday, November 15th. Cowen cut their target price on shares of Plug Power from $30.00 to $23.00 in a research note on Thursday, January 26th. Morgan Stanley decreased their price target on Plug Power from $48.00 to $35.00 and set an “overweight” rating for the company in a research note on Tuesday, January 10th. Finally, Susquehanna cut their price objective on Plug Power from $28.00 to $25.00 in a research note on Thursday, January 26th. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $25.57.

About Plug Power

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding PLUG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Plug Power Inc. (NASDAQ:PLUG – Get Rating).

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

Receive News & Ratings for Plug Power Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Plug Power and related companies with MarketBeat.com's FREE daily email newsletter.