In the most recent filing that Plug Power Inc. made with the Securities and Exchange Commission (SEC), the company revealed that during the third quarter, the State of New Jersey Common Pension Fund D increased its stake. The company’s stock is traded on NASDAQ under the symbol “PLUG” (SEC). The fund had a total holding of 314,231 shares after purchasing an additional 7,298 shares of the electronics manufacturer’s stock throughout the period in question. As a result, the State of New Jersey Common Pension Fund D had a stake in Plug Power worth $6,602,000 at the end of the most recent quarter. This stake represented 0.05% of the total number of shares held by the company at the time.
As a result of recent occurrences, a sizable number of additional institutional investors and hedge funds have shifted their positions about the stock. During the second quarter, Cetera Advisor Networks LLC made a 2.6% purchase of additional Plug Power stock, bringing the total amount of the company’s ownership in that company to 100%. During the most recent quarter, Cetera Advisor Networks LLC increased its shares of the electronics manufacturer by 480, bringing its total number of shares owned in the company to 18,863, with a value of $312,000 per share (up from 17,776 shares before). During the third quarter, Private Advisor Group LLC made a 1.8% purchase of additional Plug Power stock, bringing the total percentage of that company’s shares it owned to 24.4%. As a result of the most recent purchase of 619 additional shares during the most recent quarter, Private Advisor Group LLC now has a total of 35,985 shares of the stock held by the electronics manufacturer. This gives the company a total market value of $756,000. During the second quarter, D.A. Davidson & Co. increased the amount of Plug Power stock owned by 1.8%, bringing its total ownership percentage to 45%. D.A. Davidson & Co. currently directly owns 35,603 shares in the electronics company, which have a value of $590,000. This was achieved due to the company purchasing an additional 645 shares during the most recent fiscal quarter. During the second quarter, Kistler Tiffany Companies LLC achieved a 9.1 percent increase in the proportion of Plug Power stock it owned.
After making additional purchases of 660 shares during the most recent quarter, Kistler Tiffany Companies LLC now holds a total of 7,935 shares of the electronics manufacturer, which gives the company a market value of $131,000. This brings the total number of shares the company owns to 131,000. The last but certainly not least bit of information is that during the second quarter, Natixis Advisors L.P. increased its holdings in Plug Power by 0.9%. This is not to say that this is the least important information. Natixis Advisors L.P. has acquired ownership of 79,424 shares of the electronic manufacturer’s stock, which are currently valued at $1,316,000. This comes from purchasing 723 additional shares during the most recent fiscal quarter. Currently, 52.07% of the company’s shares are owned by hedge funds and other institutional investors.
Multiple equity research analysts have published recent reports on the company’s stock, which have been made available to the public. Citigroup increased its price target for Plug Power shares from $20,000 to $21,000 in a research note published on Thursday, December 15th. Susquehanna has lowered its target price for Plug Power shares from $30.00 to $28.00, as stated in a research note that was made public on Wednesday, November 9th. Previously, the price target was set at $30.00. UBS Group started providing coverage on Plug Power’s shares by publishing a research report on the company’s shares on December 13th. They recommended “buying” the stock and established a price objective of $26.00. Canaccord Genuity Group decreased their target price on Plug Power shares from $21.00 to $16.00 and categorized the company as a “hold” in a research report published on Friday, October 21st. B. Riley downgraded Plug Power from a “buy” rating to a “hold” rating and decreased their target price on the stock from $32.00 to $31.00 in a research report published on Thursday, October 20th. Thirteen analysts have recommended purchasing shares of the company, while seven analysts recom