Vanguard Group Inc. raised its holdings in Plug Power, Inc. (NASDAQ:PLUG) by 30.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 10,432,461 shares of the electronics maker’s stock after acquiring an additional 2,444,005 shares during the quarter. Vanguard Group Inc. owned approximately 4.67% of Plug Power worth $21,283,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new position in Plug Power in the 2nd quarter valued at approximately $102,000. Creative Planning increased its position in Plug Power by 41.5% in the 2nd quarter. Creative Planning now owns 70,472 shares of the electronics maker’s stock valued at $144,000 after acquiring an additional 20,673 shares during the period. American International Group Inc. increased its position in Plug Power by 7.5% in the 1st quarter. American International Group Inc. now owns 111,649 shares of the electronics maker’s stock valued at $154,000 after acquiring an additional 7,773 shares during the period. Aperio Group LLC increased its position in Plug Power by 6.4% in the 2nd quarter. Aperio Group LLC now owns 119,061 shares of the electronics maker’s stock valued at $243,000 after acquiring an additional 7,166 shares during the period. Finally, Nationwide Fund Advisors increased its position in Plug Power by 8.4% in the 2nd quarter. Nationwide Fund Advisors now owns 127,090 shares of the electronics maker’s stock valued at $259,000 after acquiring an additional 9,865 shares during the period. Hedge funds and other institutional investors own 23.70% of the company’s stock.

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Several research firms have recently weighed in on PLUG. Zacks Investment Research cut shares of Plug Power from a “hold” rating to a “sell” rating in a research report on Tuesday. HC Wainwright reiterated a “buy” rating and set a $4.00 price objective on shares of Plug Power in a research report on Thursday, November 9th. B. Riley reiterated a “buy” rating and set a $3.50 price objective on shares of Plug Power in a research report on Thursday, November 9th. FBR & Co reiterated a “buy” rating on shares of Plug Power in a research report on Tuesday, October 31st. Finally, Cowen and Company reiterated a “buy” rating and set a $3.00 price objective on shares of Plug Power in a research report on Tuesday, October 17th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. Plug Power has a consensus rating of “Hold” and an average target price of $3.03.

Shares of Plug Power, Inc. (NASDAQ PLUG) opened at $2.28 on Wednesday. Plug Power, Inc. has a 12-month low of $0.83 and a 12-month high of $3.21. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.86 and a current ratio of 1.29.

Plug Power (NASDAQ:PLUG) last issued its earnings results on Wednesday, November 8th. The electronics maker reported ($0.04) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). The business had revenue of $61.43 million for the quarter, compared to analyst estimates of $54.57 million. Plug Power had a negative net margin of 96.27% and a negative return on equity of 83.93%. Plug Power’s revenue was up 249.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 earnings per share. equities research analysts expect that Plug Power, Inc. will post -0.47 earnings per share for the current fiscal year.

In related news, Director George C. Mcnamee bought 200,000 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were acquired at an average cost of $2.20 per share, with a total value of $440,000.00. Following the completion of the purchase, the director now directly owns 486,131 shares in the company, valued at $1,069,488.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.90% of the stock is owned by corporate insiders.

Plug Power Company 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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