State of New Jersey Common Pension Fund D Purchases 333,708 Shares of Plug Power Inc. (NASDAQ:PLUG)

State of New Jersey Common Pension Fund D lifted its position in shares of Plug Power Inc. (NASDAQ:PLUG - Free Report) by 104.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 651,695 shares of the electronics maker's stock after acquiring an additional 333,708 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.11% of Plug Power worth $2,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Schweiz AG lifted its stake in Plug Power by 3.9% in the 3rd quarter. Robeco Schweiz AG now owns 6,201,500 shares of the electronics maker's stock valued at $47,131,000 after purchasing an additional 235,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Plug Power by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,272,687 shares of the electronics maker's stock valued at $24,872,000 after purchasing an additional 61,241 shares during the last quarter. Handelsbanken Fonder AB lifted its stake in Plug Power by 0.5% in the 4th quarter. Handelsbanken Fonder AB now owns 2,884,635 shares of the electronics maker's stock valued at $12,981,000 after purchasing an additional 14,500 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Plug Power by 11.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,763,234 shares of the electronics maker's stock valued at $12,435,000 after purchasing an additional 276,626 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in Plug Power by 9.3% in the 3rd quarter. Schroder Investment Management Group now owns 2,720,386 shares of the electronics maker's stock valued at $20,675,000 after purchasing an additional 230,426 shares during the last quarter. Institutional investors own 43.48% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PLUG. Citigroup lowered shares of Plug Power from a "neutral" rating to a "sell" rating and cut their price target for the stock from $3.25 to $2.00 in a report on Friday, April 5th. Piper Sandler lifted their price target on shares of Plug Power from $2.80 to $2.90 and gave the stock an "underweight" rating in a report on Tuesday, March 5th. Evercore ISI cut their price target on shares of Plug Power from $9.00 to $6.00 and set an "outperform" rating on the stock in a report on Monday, March 4th. Roth Mkm upgraded shares of Plug Power from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $4.50 to $9.00 in a report on Wednesday, January 31st. Finally, Seaport Res Ptn lowered shares of Plug Power from a "buy" rating to a "neutral" rating in a report on Tuesday, February 6th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Plug Power currently has a consensus rating of "Hold" and an average price target of $6.05.

Plug Power Stock Down 0.4 %

Plug Power stock traded down $0.01 during midday trading on Monday, hitting $2.40. 28,041,987 shares of the stock were exchanged, compared to its average volume of 40,048,555. Plug Power Inc. has a 52-week low of $2.25 and a 52-week high of $13.44. The stock has a market capitalization of $1.64 billion, a price-to-earnings ratio of -1.05 and a beta of 1.54. The business's 50-day moving average price is $3.22 and its 200-day moving average price is $4.07. The company has a quick ratio of 0.86, a current ratio of 1.85 and a debt-to-equity ratio of 0.18.

Plug Power (NASDAQ:PLUG - Get Free Report) last released its earnings results on Friday, March 1st. The electronics maker reported ($1.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.56) by ($0.52). The company had revenue of $222.20 million during the quarter, compared to analysts' expectations of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. The firm's revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.38) earnings per share. On average, research analysts expect that Plug Power Inc. will post -0.94 EPS for the current fiscal year.

Plug Power Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.