Plug Power Inc (NASDAQ:PLUG) Position Decreased by BlackRock Inc.

BlackRock Inc. decreased its holdings in shares of Plug Power Inc (NASDAQ:PLUG) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,357,492 shares of the electronics maker’s stock after selling 1,006,864 shares during the period. BlackRock Inc. owned approximately 0.06% of Plug Power worth $36,805,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Alps Advisors Inc. boosted its position in shares of Plug Power by 110.3% during the 2nd quarter. Alps Advisors Inc. now owns 396,087 shares of the electronics maker’s stock valued at $891,000 after purchasing an additional 207,701 shares in the last quarter. Aperio Group LLC lifted its stake in Plug Power by 22.9% during the second quarter. Aperio Group LLC now owns 277,537 shares of the electronics maker’s stock valued at $624,000 after buying an additional 51,784 shares in the last quarter. Advisor Group Inc. lifted its stake in Plug Power by 26.7% during the second quarter. Advisor Group Inc. now owns 97,340 shares of the electronics maker’s stock valued at $219,000 after buying an additional 20,500 shares in the last quarter. Fosun International Ltd purchased a new stake in Plug Power during the second quarter valued at about $53,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Plug Power during the second quarter valued at about $666,000. Institutional investors own 32.15% of the company’s stock.

PLUG stock opened at $2.68 on Friday. Plug Power Inc has a one year low of $0.99 and a one year high of $2.94. The firm has a market capitalization of $691.81 million, a PE ratio of -7.43 and a beta of 1.45. The firm has a 50-day moving average of $2.46 and a two-hundred day moving average of $2.40.



Plug Power (NASDAQ:PLUG) last posted its quarterly earnings data on Tuesday, August 6th. The electronics maker reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.02. Plug Power had a negative net margin of 44.51% and a negative return on equity of 6,435.09%. The company had revenue of $57.07 million during the quarter, compared to analyst estimates of $52.47 million. During the same period in the prior year, the firm earned ($0.08) earnings per share. The business’s quarterly revenue was up 62.0% on a year-over-year basis. As a group, analysts forecast that Plug Power Inc will post -0.36 EPS for the current year.

PLUG has been the subject of a number of analyst reports. Cowen set a $3.00 price objective on shares of Plug Power and gave the company a “buy” rating in a research note on Tuesday, September 17th. ValuEngine lowered shares of Plug Power from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. HC Wainwright set a $4.00 price objective on shares of Plug Power and gave the company a “buy” rating in a research note on Wednesday, September 18th. B. Riley set a $3.50 price objective on shares of Plug Power and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Zacks Investment Research lowered shares of Plug Power from a “buy” rating to a “hold” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $2.96.

Plug Power Profile

Plug Power Inc, an alternative energy technology provider, engages in the design, development, manufacture, and commercialization of hydrogen and fuel cell systems for the material handling and stationary power markets primarily in North America and Europe. It focuses on proton exchange membrane (PEM) fuel cell and fuel processing technologies, fuel cell/battery hybrid technologies, and related hydrogen storage and dispensing infrastructure.

See Also: Capital Gains

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

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