New York State Common Retirement Fund Sells 31,034 Shares of Plug Power Inc. (NASDAQ:PLUG)

New York State Common Retirement Fund cut its position in Plug Power Inc. (NASDAQ:PLUG) by 7.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 394,000 shares of the electronics maker’s stock after selling 31,034 shares during the period. New York State Common Retirement Fund owned about 0.07% of Plug Power worth $1,773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Robeco Schweiz AG lifted its holdings in Plug Power by 3.9% during the third quarter. Robeco Schweiz AG now owns 6,201,500 shares of the electronics maker’s stock worth $47,131,000 after acquiring an additional 235,000 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of 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 period. Handelsbanken Fonder AB grew its position in shares of 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 period. Mirae Asset Global Investments Co. Ltd. increased its stake in Plug Power by 11.1% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,763,234 shares of the electronics maker’s stock worth $12,435,000 after purchasing an additional 276,626 shares in the last quarter. Finally, Schroder Investment Management Group raised its holdings in Plug Power by 9.3% during the 3rd quarter. Schroder Investment Management Group now owns 2,720,386 shares of the electronics maker’s stock worth $20,675,000 after buying an additional 230,426 shares during the period. 43.48% of the stock is owned by institutional investors.

Plug Power Stock Down 4.5 %

PLUG stock opened at $2.52 on Thursday. Plug Power Inc. has a 1-year low of $2.25 and a 1-year high of $13.44. The business’s 50 day simple moving average is $3.11 and its 200 day simple moving average is $3.87. The company has a current ratio of 1.85, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $1.75 billion, a PE ratio of -1.10 and a beta of 1.64.

Plug Power (NASDAQ:PLUG) last released its quarterly earnings data on Friday, March 1st. The electronics maker reported ($1.08) EPS for the quarter, missing the consensus estimate of ($0.56) by ($0.52). The company had revenue of $222.20 million during the quarter, compared to analyst estimates of $234.21 million. Plug Power had a negative net margin of 153.57% and a negative return on equity of 38.09%. Plug Power’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.38) earnings per share. As a group, research analysts anticipate that Plug Power Inc. will post -0.94 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PLUG. Citigroup downgraded shares of Plug Power from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $3.25 to $2.00 in a research report on Friday, April 5th. Truist Financial upped their price objective on Plug Power from $3.00 to $4.00 and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Marathon Capitl reissued an “equal weight” rating on shares of Plug Power in a research report on Tuesday, March 26th. Evercore ISI reduced their price target on Plug Power from $9.00 to $6.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Finally, BMO Capital Markets downgraded shares of Plug Power from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $3.50 to $2.50 in a report on Wednesday, January 24th. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Plug Power currently has a consensus rating of “Hold” and a consensus price target of $6.05.

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.