Bank of New York Mellon Corp lowered its position in Plug Power Inc (NASDAQ:PLUG) by 2.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 917,469 shares of the electronics maker’s stock after selling 25,409 shares during the quarter. Bank of New York Mellon Corp owned 0.40% of Plug Power worth $2,395,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Swiss National Bank increased its position in Plug Power by 15.3% during the 2nd quarter. Swiss National Bank now owns 325,200 shares of the electronics maker’s stock worth $663,000 after purchasing an additional 43,100 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in Plug Power by 58.4% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock worth $2,484,000 after purchasing an additional 448,639 shares in the last quarter. State Street Corp increased its position in Plug Power by 14.6% during the 2nd quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock worth $7,635,000 after purchasing an additional 477,438 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Plug Power by 14.0% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 851,166 shares of the electronics maker’s stock worth $1,736,000 after purchasing an additional 104,319 shares in the last quarter. Finally, First Trust Advisors LP increased its position in Plug Power by 44.2% during the 2nd quarter. First Trust Advisors LP now owns 232,094 shares of the electronics maker’s stock worth $473,000 after purchasing an additional 71,126 shares in the last quarter. Institutional investors and hedge funds own 24.30% of the company’s stock.

Shares of Plug Power Inc (PLUG) opened at $2.36 on Monday. The company has a quick ratio of 0.86, a current ratio of 1.29 and a debt-to-equity ratio of 0.62. Plug Power Inc has a 52 week low of $0.83 and a 52 week high of $3.21. The stock has a market capitalization of $539.19, a PE ratio of -3.87 and a beta of 1.64.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.04). Plug Power had a negative return on equity of 83.93% and a negative net margin of 96.27%. The firm had revenue of $61.43 million for the quarter, compared to analyst estimates of $54.57 million. During the same period last year, the company earned $0.07 EPS. The firm’s quarterly revenue was up 249.0% on a year-over-year basis. equities analysts predict that Plug Power Inc will post -0.51 earnings per share for the current year.

A number of research firms recently commented on PLUG. B. Riley reiterated a “buy” rating on shares of Plug Power in a research report on Wednesday, November 1st. Zacks Investment Research cut Plug Power from a “hold” rating to a “sell” rating in a research report on Tuesday, September 26th. Canaccord Genuity began coverage on Plug Power in a research report on Friday, December 1st. They set a “buy” rating and a $5.00 price objective for the company. Cowen reiterated a “buy” rating and set a $3.00 price objective on shares of Plug Power in a research report on Sunday, September 17th. Finally, HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Plug Power in a research report on Thursday, December 7th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $3.23.

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Plug Power Profile

Plug Power Inc is a provider of alternative energy technology focused on the design, development, commercialization and manufacture of hydrogen fuel cell systems used for the industrial off-road market and the stationary power market. The Company’s product line includes GenKey, GenDrive, GenFuel, GenCare and ReliOn.

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Institutional Ownership by Quarter for Plug Power (NASDAQ:PLUG)

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