Cwm LLC trimmed its position in Plug Power Inc. (NASDAQ:PLUG – Get Rating) by 10.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,216 shares of the electronics maker's stock after selling 952 shares during the quarter. Cwm LLC's holdings in Plug Power were worth $136,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Clearstead Advisors LLC raised its holdings in shares of Plug Power by 19.6% in the 1st quarter. Clearstead Advisors LLC now owns 3,045 shares of the electronics maker's stock valued at $87,000 after purchasing an additional 500 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Plug Power by 1.9% in the 1st quarter. CIBC Asset Management Inc now owns 28,496 shares of the electronics maker's stock valued at $815,000 after purchasing an additional 522 shares in the last quarter. Private Capital Group LLC raised its stake in Plug Power by 77.6% during the 1st quarter. Private Capital Group LLC now owns 1,332 shares of the electronics maker's stock worth $38,000 after acquiring an additional 582 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in Plug Power by 20.0% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 3,690 shares of the electronics maker's stock worth $106,000 after acquiring an additional 615 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in Plug Power by 1.8% during the 2nd quarter. D.A. Davidson & CO. now owns 35,603 shares of the electronics maker's stock worth $590,000 after acquiring an additional 645 shares in the last quarter. 51.09% of the stock is currently owned by institutional investors and hedge funds.

Plug Power Stock Down 0.2 %

PLUG stock opened at $16.29 on Monday. The company has a market cap of $9.43 billion, a P/E ratio of -14.94 and a beta of 1.75. Plug Power Inc. has a 52 week low of $12.70 and a 52 week high of $46.50. The company's 50-day moving average price is $24.58 and its 200 day moving average price is $21.36. The company has a current ratio of 9.10, a quick ratio of 8.10 and a debt-to-equity ratio of 0.12.

Analyst Ratings Changes

Several equities research analysts recently commented on PLUG shares. Craig Hallum lifted their price target on shares of Plug Power from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Friday, August 26th. Truist Financial lifted their price target on shares of Plug Power from $21.00 to $32.00 and gave the stock a "hold" rating in a research note on Thursday, August 11th. Morgan Stanley cut their price target on shares of Plug Power from $53.00 to $48.00 and set an "overweight" rating on the stock in a research note on Thursday. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $21.00 to $16.00 and set a "hold" rating on the stock in a research report on Friday. Finally, Royal Bank of Canada lowered their price objective on shares of Plug Power from $29.00 to $24.00 and set an "outperform" rating on the stock in a research report on Thursday. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $32.54.

About Plug Power

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Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.

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