BlackRock Inc. boosted its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 1.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 45,548,919 shares of the electronics maker’s stock after buying an additional 741,751 shares during the quarter. BlackRock Inc. owned 0.08% of Plug Power worth $1,163,322,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its position in Plug Power by 53.3% during the 3rd quarter. SRS Capital Advisors Inc. now owns 1,150 shares of the electronics maker’s stock worth $29,000 after acquiring an additional 400 shares during the period. Moors & Cabot Inc. raised its stake in shares of Plug Power by 311.4% during the 3rd quarter. Moors & Cabot Inc. now owns 36,000 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 27,250 shares in the last quarter. Gradient Investments LLC raised its stake in shares of Plug Power by 160.5% in the 3rd quarter. Gradient Investments LLC now owns 1,542 shares of the electronics maker’s stock valued at $39,000 after acquiring an additional 950 shares in the last quarter. Berman Capital Advisors LLC raised its stake in shares of Plug Power by 78.4% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,254 shares of the electronics maker’s stock valued at $42,000 after acquiring an additional 551 shares in the last quarter. Finally, NEXT Financial Group Inc raised its stake in shares of Plug Power by 24.7% in the 3rd quarter. NEXT Financial Group Inc now owns 1,822 shares of the electronics maker’s stock valued at $46,000 after acquiring an additional 361 shares in the last quarter. 49.21% of the stock is owned by institutional investors and hedge funds.
PLUG has been the topic of several recent analyst reports. BMO Capital Markets lifted their price target on Plug Power from $30.00 to $35.00 and gave the stock a “market perform” rating in a research report on Friday, October 15th. Piper Sandler boosted their price target on Plug Power from $37.00 to $46.00 and gave the company an “overweight” rating in a research note on Friday, October 29th. Evercore ISI reiterated a “buy” rating and issued a $42.00 price objective on shares of Plug Power in a research report on Friday, October 15th. Truist Securities lifted their price objective on Plug Power from $36.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, November 11th. Finally, Cowen boosted their target price on Plug Power from $41.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 10th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $43.28.
Plug Power (NASDAQ:PLUG) last released its earnings results on Tuesday, November 9th. The electronics maker reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.10). The company had revenue of $143.92 million during the quarter, compared to analyst estimates of $142.87 million. During the same quarter in the previous year, the firm earned ($0.11) EPS. On average, research analysts forecast that Plug Power Inc. will post -0.6 earnings per share for the current year.
Plug Power Profile
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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