Plug Power, Inc. (NASDAQ:PLUG) saw a significant growth in short interest in August. As of August 15th, there was short interest totalling 41,863,188 shares, a growth of 4.7% from the July 31st total of 39,976,219 shares. Based on an average daily trading volume, of 4,479,458 shares, the short-interest ratio is presently 9.3 days. Currently, 18.8% of the company’s stock are sold short.

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Plug Power by 30.6% in the second quarter. Vanguard Group Inc. now owns 10,432,461 shares of the electronics maker’s stock valued at $21,283,000 after buying an additional 2,444,005 shares in the last quarter. State Street Corp boosted its stake in Plug Power by 14.6% in the second quarter. State Street Corp now owns 3,742,566 shares of the electronics maker’s stock valued at $7,635,000 after buying an additional 477,438 shares in the last quarter. Northern Trust Corp boosted its stake in Plug Power by 39.5% in the second quarter. Northern Trust Corp now owns 2,828,390 shares of the electronics maker’s stock valued at $5,770,000 after buying an additional 800,320 shares in the last quarter. Geode Capital Management LLC boosted its stake in Plug Power by 30.4% in the first quarter. Geode Capital Management LLC now owns 1,750,660 shares of the electronics maker’s stock valued at $2,415,000 after buying an additional 407,653 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in Plug Power by 58.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,217,301 shares of the electronics maker’s stock valued at $2,484,000 after buying an additional 448,639 shares in the last quarter. 23.79% of the stock is currently owned by hedge funds and other institutional investors.

Plug Power (NASDAQ PLUG) opened at 2.17 on Tuesday. The company has a 50-day moving average of $2.17 and a 200-day moving average of $1.85. Plug Power has a 52 week low of $0.83 and a 52 week high of $2.70. The company’s market cap is $487.66 million.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Tuesday, August 8th. The electronics maker reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by $0.03. The company had revenue of $22.60 million during the quarter, compared to analyst estimates of $28.58 million. Plug Power had a negative net margin of 112.95% and a negative return on equity of 86.35%. The company’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share. On average, equities research analysts predict that Plug Power will post ($0.32) EPS for the current year.

A number of brokerages recently commented on PLUG. Cowen and Company set a $3.00 price objective on shares of Plug Power and gave the stock a “buy” rating in a research note on Thursday, August 10th. HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research downgraded shares of Plug Power from a “buy” rating to a “hold” rating in a research note on Saturday, August 12th. BidaskClub raised shares of Plug Power from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Rodman & Renshaw reissued a “buy” rating and issued a $4.00 price objective on shares of Plug Power in a research note on Monday, July 24th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $2.83.

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About Plug Power

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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