Amundi Trims Stock Position in Plug Power Inc. (NASDAQ:PLUG)

Amundi cut its holdings in Plug Power Inc. (NASDAQ:PLUG) by 8.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,322,965 shares of the electronics maker’s stock after selling 296,519 shares during the period. Amundi owned 0.36% of Plug Power worth $7,078,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in shares of Plug Power by 53.2% during the 4th 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. Generali Investments CEE investicni spolecnost a.s. purchased a new position in Plug Power during the fourth quarter worth about $38,000. Callan Family Office LLC acquired a new stake in shares of Plug Power during the fourth quarter valued at about $27,000. Pinnacle Wealth Planning Services Inc. purchased a new stake in shares of Plug Power in the 4th quarter valued at approximately $60,000. Finally, Raymond James Financial Inc. acquired a new position in shares of Plug Power in the 4th quarter worth approximately $344,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Canaccord Genuity Group dropped their target price on shares of Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a report on Wednesday, March 5th. StockNews.com upgraded Plug Power to a “sell” rating in a report on Tuesday, March 4th. Piper Sandler lowered their target price on Plug Power from $1.40 to $1.10 and set an “underweight” rating for the company in a report on Wednesday, March 5th. Seaport Res Ptn lowered shares of Plug Power from a “hold” rating to a “strong sell” rating in a research note on Monday, January 27th. Finally, Susquehanna lowered their price objective on shares of Plug Power from $2.50 to $1.80 and set a “neutral” rating for the company in a research note on Wednesday, March 5th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $2.34.

Plug Power Stock Up 0.6 %

Plug Power stock opened at $1.66 on Friday. The stock has a market cap of $1.54 billion, a PE ratio of -0.78 and a beta of 1.98. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.08 and a quick ratio of 0.95. The stock’s fifty day moving average is $1.99 and its two-hundred day moving average is $2.08. Plug Power Inc. has a 1-year low of $1.37 and a 1-year high of $4.90.

Plug Power Company 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.