Pinnacle Wealth Planning Services Inc. Acquires New Shares in Plug Power Inc. (NASDAQ:PLUG)

Pinnacle Wealth Planning Services Inc. acquired a new stake in Plug Power Inc. (NASDAQ:PLUG) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 28,148 shares of the electronics maker’s stock, valued at approximately $60,000.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position in Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after buying an additional 1,354,500 shares in the last quarter. XTX Topco Ltd purchased a new position in Plug Power during the third quarter worth $2,174,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Plug Power by 24.5% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock worth $5,472,000 after buying an additional 476,060 shares in the last quarter. Stifel Financial Corp increased its position in Plug Power by 23.4% during the third quarter. Stifel Financial Corp now owns 1,398,398 shares of the electronics maker’s stock worth $3,160,000 after buying an additional 265,514 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Plug Power by 166.4% during the third quarter. MetLife Investment Management LLC now owns 424,297 shares of the electronics maker’s stock worth $959,000 after buying an additional 265,042 shares in the last quarter. 43.48% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Seaport Res Ptn downgraded Plug Power from a “hold” rating to a “strong sell” rating in a research report on Monday, January 27th. Piper Sandler dropped their price target on Plug Power from $1.40 to $1.10 and set an “underweight” rating for the company in a research report on Wednesday. Canaccord Genuity Group dropped their price target on Plug Power from $2.00 to $1.25 and set a “hold” rating for the company in a research report on Wednesday. StockNews.com raised Plug Power to a “sell” rating in a research report on Tuesday, March 4th. Finally, BMO Capital Markets lowered their price objective on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Plug Power has a consensus rating of “Hold” and a consensus price target of $2.34.

Plug Power Price Performance

Shares of Plug Power stock opened at $1.78 on Friday. Plug Power Inc. has a twelve month low of $1.37 and a twelve month high of $4.90. The stock has a market capitalization of $1.65 billion, a P/E ratio of -0.83 and a beta of 1.98. 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 business’s fifty day moving average price is $2.05 and its 200 day moving average price is $2.10.

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.