5 Investors Betting Big on Plug Power (PLUG) Stock

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Plug Power (NASDAQ:PLUG) stock has been on a losing streak lately. As one of the leading names in the hydrogen fuel cell space, however, shares may be a valuable buy-the-dip opportunity.

This former clean energy winner has been trending downward all month. Most recently, shares declined after receiving a downgrade from Morgan Stanley. However, plenty of experts aren’t writing off PLUG stock.

In fact, many see Plug Power as having significant potential, even as shares slide further into the red. The company has been touted for its list of partnerships. InvestorPlace contributor Larry Ramer also recently flagged PLUG as an undervalued growth stock, in part for its growing applications in the aviation space. Back in early March, the company provided fuel cells for a “successful test flight of a small plane that was partially powered by hydrogen.”

All of this suggests that shares are due not just for a rebound, but for substantial growth as markets turn around in 2023. Plug Power operates in a market that’s expected to keep growing as the green revolution continues. While the company may not be profitable yet, InvestorPlace contributor Chris Markoch expects that to “change soon” as well.

So, does institutional investment in PLUG stock remain high? Let’s take a closer look.

Top Investors Betting Big on PLUG Stock

According to data from WhaleWisdom, institutional sentiment toward Plug Power has been mixed recently, although primarily positive. The number of funds holding PLUG stock has decreased by just 3 funds since the previous quarter, falling from 549 to 546. However, the number of 13F shares owned by filers has risen almost 5%. Percentage ownership is also up roughly 4%. New positions in PLUG stock have jumped significantly quarter to quarter as well, spiking 20% from 76 to 91. Bearish sentiment seems to be rising, however, as the put/call ratio is now 1.5, up about 14%.

With that in mind, let’s dive deeper into the institutional investors maintaining top positions in PLUG stock.

On the date of publication, Samuel O’Brient did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Samuel O’Brient has been covering financial markets and analyzing economic policy for three-plus years. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. O’Brient loves helping everyone understand the complexities of economics. He is ranked in the top 15% of stock pickers on TipRanks.

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