Callan Family Office LLC Invests $27,000 in Plug Power Inc. (NASDAQ:PLUG)

Callan Family Office LLC purchased a new stake in Plug Power Inc. (NASDAQ:PLUG) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,462 shares of the electronics maker’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PLUG. Geode Capital Management LLC raised its stake in Plug Power by 23.6% in the third quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after purchasing an additional 3,662,456 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Plug Power by 25.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock valued at $15,000,000 after purchasing an additional 1,354,500 shares in the last quarter. XTX Topco Ltd acquired a new position in Plug Power in the third quarter valued at about $2,174,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Plug Power by 24.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock valued at $5,472,000 after purchasing an additional 476,060 shares in the last quarter. Finally, Main Management ETF Advisors LLC acquired a new position in Plug Power in the third quarter valued at about $823,000. Institutional investors and hedge funds own 43.48% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on PLUG. Morgan Stanley dropped their price target on Plug Power from $1.75 to $1.60 and set an “underweight” rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company decreased their target price on Plug Power from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 14th. Evercore ISI decreased their target price on Plug Power from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 13th. BMO Capital Markets decreased their target price on Plug Power from $1.60 to $1.40 and set an “underperform” rating on the stock in a research report on Wednesday, March 5th. Finally, Susquehanna decreased their target price on Plug Power from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Wednesday, March 5th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $2.34.

Plug Power Stock Performance

Shares of PLUG stock opened at $1.67 on Wednesday. The business’s 50 day simple moving average is $2.03 and its 200 day simple moving average is $2.09. Plug Power Inc. has a one year low of $1.37 and a one year high of $4.90. The stock has a market capitalization of $1.55 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.

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.