Plug Power Inc. (NASDAQ:PLUG) Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Plug Power Inc. (NASDAQ:PLUG) by 19.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 782,049 shares of the electronics maker’s stock after acquiring an additional 128,193 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.09% of Plug Power worth $1,666,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PLUG. Oppenheimer & Co. Inc. acquired a new stake in shares of Plug Power in the 4th quarter valued at about $25,000. Pacific Sage Partners LLC purchased a new position in shares of Plug Power during the fourth quarter worth approximately $25,000. Jones Financial Companies Lllp grew its position in shares of Plug Power by 107.4% during the fourth quarter. Jones Financial Companies Lllp now owns 11,730 shares of the electronics maker’s stock worth $25,000 after acquiring an additional 6,074 shares during the last quarter. Callan Family Office LLC purchased a new stake in Plug Power in the 4th quarter valued at $27,000. Finally, Millburn Ridgefield Corp boosted its stake in Plug Power by 79.9% during the 3rd quarter. Millburn Ridgefield Corp now owns 12,681 shares of the electronics maker’s stock worth $29,000 after purchasing an additional 5,631 shares during the period. Hedge funds and other institutional investors own 43.48% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. 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. BMO Capital Markets reduced their price objective on Plug Power from $1.60 to $1.40 and set an “underperform” rating for the company in a research note on Wednesday, March 5th. Canaccord Genuity Group dropped their target price on Plug Power from $2.00 to $1.25 and set a “hold” rating on the stock in a report on Wednesday, March 5th. HC Wainwright reaffirmed a “buy” rating and set a $3.00 price target on shares of Plug Power in a report on Monday, March 24th. Finally, Morgan Stanley dropped their price objective on shares of Plug Power from $1.75 to $1.60 and set an “underweight” rating on the stock in a research note on Thursday, March 6th. Six 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. According to data from MarketBeat.com, Plug Power has a consensus rating of “Hold” and a consensus price target of $2.31.

Plug Power Price Performance

Plug Power stock opened at $1.31 on Wednesday. The firm has a market capitalization of $1.21 billion, a PE ratio of -0.61 and a beta of 1.98. Plug Power Inc. has a 52 week low of $1.26 and a 52 week high of $4.90. The firm’s 50-day simple moving average is $1.70 and its 200 day simple moving average is $2.05. The company has a quick ratio of 0.95, a current ratio of 2.08 and a debt-to-equity ratio of 0.15.

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.