Ground Swell Capital LLC Purchases New Shares in Plug Power Inc. (NASDAQ:PLUG)

Ground Swell Capital LLC acquired a new position in Plug Power Inc. (NASDAQ:PLUG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,561 shares of the electronics maker’s stock, valued at approximately $27,000.

Other large investors have also recently made changes to their positions in the company. Mariner LLC increased its stake in Plug Power by 29.7% during the fourth quarter. Mariner LLC now owns 177,839 shares of the electronics maker’s stock worth $379,000 after acquiring an additional 40,710 shares during the last quarter. Norges Bank bought a new position in shares of Plug Power during the 4th quarter valued at approximately $146,465,000. Wells Fargo & Company MN raised its holdings in Plug Power by 2.7% during the 4th quarter. Wells Fargo & Company MN now owns 2,685,413 shares of the electronics maker’s stock valued at $5,720,000 after buying an additional 70,187 shares during the period. KLP Kapitalforvaltning AS bought a new stake in Plug Power in the fourth quarter worth $320,000. Finally, Vanguard Group Inc. boosted its stake in Plug Power by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 87,438,503 shares of the electronics maker’s stock worth $186,244,000 after buying an additional 4,491,114 shares during the period. 43.48% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PLUG has been the topic of several recent analyst reports. Truist Financial reduced their target price on shares of Plug Power from $2.00 to $1.50 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Seaport Res Ptn downgraded shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Canaccord Genuity Group cut their target price on Plug Power from $2.00 to $1.25 and set a “hold” rating on the stock in a research note on Wednesday, March 5th. Susquehanna decreased their price target on Plug Power from $1.80 to $1.25 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, B. Riley dropped their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $2.29.

Plug Power Trading Up 1.2 %

NASDAQ:PLUG opened at $0.86 on Friday. The firm has a 50-day simple moving average of $1.22 and a 200-day simple moving average of $1.82. Plug Power Inc. has a one year low of $0.76 and a one year high of $4.90. The firm has a market cap of $880.22 million, a P/E ratio of -0.40 and a beta of 2.19. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08.

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.