Plug Power Inc. (NASDAQ:PLUG) Position Increased by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Plug Power Inc. (NASDAQ:PLUG) by 21.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,136 shares of the electronics maker’s stock after buying an additional 16,432 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Plug Power were worth $3,184,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PLUG. BlackRock Inc. lifted its position in shares of Plug Power by 26.7% in the first quarter. BlackRock Inc. now owns 59,768,929 shares of the electronics maker’s stock worth $2,142,117,000 after purchasing an additional 12,607,594 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Plug Power by 89.3% in the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 12,734,588 shares of the electronics maker’s stock worth $435,396,000 after purchasing an additional 6,007,238 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Plug Power by 19.6% in the first quarter. Geode Capital Management LLC now owns 7,922,604 shares of the electronics maker’s stock worth $283,678,000 after purchasing an additional 1,300,773 shares in the last quarter. Northern Trust Corp lifted its position in shares of Plug Power by 17.1% in the first quarter. Northern Trust Corp now owns 5,373,132 shares of the electronics maker’s stock worth $192,572,000 after purchasing an additional 786,456 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in Plug Power by 242.3% during the first quarter. Ameriprise Financial Inc. now owns 4,066,750 shares of the electronics maker’s stock valued at $145,753,000 after acquiring an additional 2,878,542 shares in the last quarter. 47.46% of the stock is owned by institutional investors.

PLUG opened at $24.63 on Thursday. Plug Power Inc. has a fifty-two week low of $10.92 and a fifty-two week high of $75.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 19.78 and a quick ratio of 18.94. The firm’s fifty day moving average price is $26.43 and its two-hundred day moving average price is $30.07. The company has a market capitalization of $14.15 billion, a P/E ratio of -16.10 and a beta of 1.37.

Plug Power (NASDAQ:PLUG) last posted its quarterly earnings results on Thursday, August 5th. The electronics maker reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.11). On average, equities research analysts expect that Plug Power Inc. will post -0.41 EPS for the current fiscal year.

In other Plug Power news, insider Sanjay K. Shrestha sold 5,700 shares of Plug Power stock in a transaction on Tuesday, July 13th. The stock was sold at an average price of $28.43, for a total transaction of $162,051.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.70% of the stock is currently owned by company insiders.

Several equities analysts recently weighed in on the stock. Evercore ISI reaffirmed a “buy” rating on shares of Plug Power in a research report on Friday, June 25th. Barclays raised their price objective on shares of Plug Power from $24.00 to $27.00 and gave the company an “underweight” rating in a research report on Wednesday, June 23rd. Roth Capital cut their price objective on shares of Plug Power from $65.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, August 6th. BTIG Research assumed coverage on Plug Power in a report on Thursday, May 27th. They set a “buy” rating and a $40.00 price target on the stock. Finally, Morgan Stanley lowered their price target on Plug Power from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 20th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $39.43.

Plug Power Profile

Plug Power, Inc provides alternative energy technology, which focuses on the design, development, commercialization, and manufacture of hydrogen and fuel cell systems used primarily for the material handling and stationary power markets. Its fuel cell system solution is designed to replace lead-acid batteries in electric material handling vehicles and industrial trucks for some distribution and manufacturing businesses.

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

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