New York State Common Retirement Fund grew its holdings in Plug Power Inc. (NASDAQ:PLUG – Get Rating) by 1.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 607,100 shares of the electronics maker’s stock after acquiring an additional 9,238 shares during the period. New York State Common Retirement Fund owned about 0.11% of Plug Power worth $17,369,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also modified their holdings of the business. HighTower Advisors LLC grew its stake in shares of Plug Power by 18.9% in the 4th quarter. HighTower Advisors LLC now owns 19,871 shares of the electronics maker’s stock valued at $555,000 after purchasing an additional 3,164 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Plug Power by 3.9% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 153,633 shares of the electronics maker’s stock valued at $4,395,000 after purchasing an additional 5,707 shares during the period. Dimensional Fund Advisors LP grew its position in Plug Power by 22.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 930,216 shares of the electronics maker’s stock valued at $26,270,000 after acquiring an additional 168,277 shares during the period. Principal Financial Group Inc. grew its position in Plug Power by 1,321.1% during the fourth quarter. Principal Financial Group Inc. now owns 925,080 shares of the electronics maker’s stock valued at $26,115,000 after acquiring an additional 859,985 shares during the period. Finally, PSI Advisors LLC lifted its stake in shares of Plug Power by 29.3% during the first quarter. PSI Advisors LLC now owns 5,125 shares of the electronics maker’s stock worth $147,000 after purchasing an additional 1,160 shares in the last quarter. Institutional investors and hedge funds own 52.07% of the company’s stock.
Plug Power Price Performance
PLUG opened at $24.11 on Friday. The company has a fifty day moving average price of $17.94 and a two-hundred day moving average price of $21.05. The company has a debt-to-equity ratio of 0.12, a quick ratio of 10.51 and a current ratio of 11.44. Plug Power Inc. has a 52 week low of $12.70 and a 52 week high of $46.50. The firm has a market capitalization of $13.94 billion, a PE ratio of -24.86 and a beta of 1.78.
Plug Power (NASDAQ:PLUG – Get Rating) last released its earnings results on Monday, May 9th. The electronics maker reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.11). Plug Power had a negative return on equity of 11.78% and a negative net margin of 97.29%. The business had revenue of $140.80 million for the quarter, compared to analyst estimates of $142.99 million. During the same period in the prior year, the firm posted ($0.12) EPS. Plug Power’s revenue was up 95.7% on a year-over-year basis. As a group, analysts anticipate that Plug Power Inc. will post -0.76 earnings per share for the current year.
Analysts Set New Price Targets
Several research firms recently commented on PLUG. KeyCorp reiterated an “overweight” rating and issued a $30.00 price target on shares of Plug Power in a research note on Thursday, June 30th. Susquehanna lowered their target price on Plug Power from $33.00 to $30.00 in a report on Tuesday, May 10th. Northland Securities assumed coverage on Plug Power in a report on Tuesday. They issued a “market perform” rating and a $25.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on Plug Power from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Wednesday, June 29th. Finally, Morgan Stanley decreased their price target on Plug Power from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, July 21st. Seven research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Plug Power presently has a consensus rating of “Moderate Buy” and a consensus target price of $33.00.
Plug Power Company Profile
Plug Power Inc delivers end-to-end clean hydrogen and zero-emissions fuel cell solutions for supply chain and logistics applications, on-road electric vehicles, stationary power market, and others in North America and internationally. It engages in building an end-to-end green hydrogen ecosystem, including green hydrogen production, storage and delivery, and energy generation through mobile or stationary applications.
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