112,168 Shares in Plug Power Inc. (NASDAQ:PLUG) Purchased by Brevan Howard Capital Management LP

Brevan Howard Capital Management LP purchased a new stake in Plug Power Inc. (NASDAQ:PLUG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 112,168 shares of the electronics maker’s stock, valued at approximately $239,000.

Several other hedge funds have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in shares of Plug Power by 53.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 15,410 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 5,348 shares during the period. Compagnie Lombard Odier SCmA grew its holdings in Plug Power by 12.8% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 49,000 shares of the electronics maker’s stock valued at $104,000 after buying an additional 5,550 shares in the last quarter. Jones Financial Companies Lllp increased its position in Plug Power by 107.4% during the 4th quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after buying an additional 6,074 shares during the period. Avantax Planning Partners Inc. lifted its holdings in shares of Plug Power by 54.0% during the fourth quarter. Avantax Planning Partners Inc. now owns 18,722 shares of the electronics maker’s stock worth $40,000 after buying an additional 6,561 shares in the last quarter. Finally, Guggenheim Capital LLC boosted its position in shares of Plug Power by 13.0% in the fourth quarter. Guggenheim Capital LLC now owns 65,352 shares of the electronics maker’s stock valued at $139,000 after acquiring an additional 7,539 shares during the period. 43.48% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on PLUG. Truist Financial dropped their price objective on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating for the company in a research note on Wednesday, March 5th. B. Riley lowered their target price on shares of Plug Power from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Wednesday, March 5th. HC Wainwright reiterated a “buy” rating and issued a $3.00 price target on shares of Plug Power in a research note on Monday, March 24th. Morgan Stanley lowered their price objective on Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a research note on Thursday, March 6th. Finally, Seaport Res Ptn cut Plug Power from a “hold” rating to a “strong sell” rating in a report on Monday, January 27th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $2.10.

Plug Power Stock Up 1.2%

PLUG stock opened at $0.86 on Monday. The firm has a 50-day moving average price of $1.22 and a 200-day moving average price of $1.82. Plug Power Inc. has a 12 month low of $0.76 and a 12 month high of $4.90. The company has a current ratio of 2.08, a quick ratio of 0.95 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $880.22 million, a P/E ratio of -0.40 and a beta of 2.19.

Plug Power Profile

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.